The United Nations and the International Olympic Committee has signed a historic agreement to use the power of sports to promote peace and economic development. The move is described as one which strengthens collaboration between two of the world's major organizationsIOC President Thomas Bach yesterday told a UN event celebrating the strengthened relationship that UN Secretary-General Ban Ki-moon was right when he said Olympic principles are United Nations principles.He said that both the UN and Olympic charters, call for international cooperation to promote peace, a better life for people around the world and preserving human dignity.Secretary-General Ban said the Memorandum of Understanding signed with the IOC was a logical and historic step after years of ever closer collaboration in using sport to promote development and peace.The agreement calls for joint sporting initiatives between the IOC, national Olympic committees, international sports federations, organizing committees and international athletes and the 193 UN member states, UN agencies, envoys and goodwill ambassadors.