Explain the following:
(i) G-77
Answer:
Points to Remember
- A group of 77 nations called for a New International Economic Order (NIEO).
- To control the natural resources that developed nations were using for their o wn benefit.
- At the United Nations Conference on Trade and Development , the G-77 group was established.
- To address the financial needs and issues faced by developing nations .
- Total Members as of 2019 are 134 Nations
*Elaborate above-mentioned points.
Answer to be written in the exam
Developing countries organized a group of 77 (G-77) members to demand for the New International Economic Order i.e NIEO to control the natural resources that developed nations were using for their own benefit . At the United Nations Conference on Trade and Development , the G-77 group was established (UNCTAD). The primary goal is to address the financial needs and issues faced by developing nations . They urged for increased development aid and reasonable raw material costs. In 2019 , there were 134 members states in the group.
