Abuja Treaty establishes an African Economic Community

The G77 high-level conference adopted measures for economic cooperation among developing countries in trade, technology, finance and other fields.

The General Assembly adopted the Declaration on the Right to Development, linking people’s participation and self-determination to economic and social rights.

The Agreement on the Global System of Trade Preferences among Developing Countries was signed in Belgrade to promote trade concessions within the South.

The GSTP became operational, providing a treaty framework for preferential trade among participating developing countries.

Foreign ministers renewed the group’s call for South–South cooperation and a more equitable international economic system.

The treaty’s legal commencement advanced the framework for African economic integration envisaged in 1991.

Developing countries reaffirmed the group’s founding commitments to solidarity, economic cooperation and fairer international relations.

Its founding agreement entered into force, creating a research and policy institution owned by developing countries to support collective action.

The group’s ministerial conference adopted a declaration and action plan on trade, investment and finance among developing countries.

Ministers put forward cooperation among developing regions as a means to expand trade and development opportunities.