UN adopts New International Economic Order declaration

G77 ministers set out a common agenda for development, trade and solidarity, strengthening the group’s continuing institutional role.

The Algiers political declaration raised the demand for a New International Economic Order to change unequal patterns of trade, finance and control over resources.

The General Assembly decided to hold a special session on development and international economic cooperation, bringing demands from non-aligned countries onto the UN agenda.

The General Assembly convened to address raw materials and development, giving developing states a venue to press for changes in the international economic system.

Algerian president Houari Boumediene addressed the special session, calling attention to unequal exchange and the right of countries to control their natural resources.

Resolution 3202 (S-VI) set out measures on trade, industrialization, technology and financing to put the New International Economic Order agenda into action.

The charter affirmed states’ sovereignty over economic activities and natural resources and presented principles for international economic relations.

UNIDO’s Lima conference adopted a declaration and plan of action pressing for a larger share of world industrial production for developing countries.

At their foreign ministers’ meeting, non-aligned countries adopted a programme for mutual assistance and solidarity, including cooperation among developing states.

The Fifth Non-Aligned Summit concluded with an action programme for cooperation among developing countries as part of the pursuit of economic independence.