What is the Group of 77 formed during UNCTAD I in 1964?
Group of 77 (G-77) was formed on June 15, 1964 by seventy-seven developing countries during UNCTAD I (United Nations Conference on Trade and Development) who issued the “Joint Declaration of the Seventy-Seven Countries.” The aim of G-77 is to lobby for the interest of the developing countries as they hold the position of the largest third world coalition in the United Nations. The activities of G-77 include negotiating trade and economic rights for developing countries as well as attending various international conferences as lobbyists for third world interests. Back to Top What is the meaning of the term New International Economic Order? In an attempt to discuss the ever-growing differences of economic status between first world and third world countries, the term New International Economic Order (NIEO) was used. Developed at the United Nations Conference of Trading and Developing, NIEO is equivalent to what developing countries see as economic equality in the future. Their intrinsic
