No, it is time to implement the convention. The convention is not implemented for every single country because it's interpreted in a particular way, and the definition of refugees is applied according to national standards. The problem is that the convention also has an article that talks about the monetary mechanisms the UN has to develop to make this convention what you are talking about. But the problem is that governments and states are not interested in developing that mechanism, and they are not interested in being observed and being criticized and having a particular standard imposed.
On February 8th, 2007. See this statement in context.