what is G-77 .why these demanded a new international economics order. Here is your questions.now answer the question.
Answers
Explanation:
15 June 1964 by seventy-seven developing countries signatories of the "Joint Declaration of the Seventy-Seven Countries" issued at the end of the first session of the United Nations Conference on Trade and Development (UNCTAD) in Geneva. Beginning with the first Ministerial Meeting of the Group of 77 in Algiers in 1967 which adopted the Charter of Algiers, a permanent institutional structure gradually developed which led to the creation of Chapters of the Group of 77 in Rome (FAO), Vienna (UNIDO), Paris (UNESCO), Nairobi (UNEP) and the Group of 24 in Washington, D.C. (IMF and World Bank). Although the membership of the G-77 has increased to 133 countries, the original name was retained because of its historic significance.
The G-77 countries consists of a group of 77 developing countries which came into existence in late 20 century to demand a New International Economic Order(NIEO).
Their demands were:-
(i) A new international economic order that would give them real control over their natural resources.
(ii) More development assistance.
(iii) Better access for their manufactured goods in developed countries' markets.
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