What is Group of 77 (G-77)?
The Group of 77 (G-77) is an alliance of developing countries established on 15 June 1964. Initially, 77 countries signed the Declaration of the Seventy-Seven Countries at the end of the United Nations Conference on Trade and Development (UNCTAD) in Geneva.
The institutional structure of G-77 consists of five chapters based in Geneva, Nairobi, Paris, Rome and Vienna, and an inter-governmental Group of 24 based in Washington D.C. The G-77 has been continuously working to develop a common voice of the developing Southern nations in matters of trade, investment, environment and development and in increasing a collective negotiating power in dealing with the countries or groups of the North.
What are the Goals of G-77?
- To maintain the independence and sovereignty of all developing countries
- To defend the economic interests of member countries by insisting on equal standing with developed countries in the global marketplace.
- To establish a united front on issues of common concern and to strengthen ties between member countries.
The G-77 plays a crucial role in advocating for the interests of developing countries in various UN bodies and forums, including the General Assembly, the Economic and Social Council (ECOSOC), and the UN Conference on Trade and Development (UNCTAD). It often focuses on issues such as:
1. Economic Development: Promoting policies and initiatives to stimulate economic growth, reduce poverty, and improve the living standards of people in developing nations.
2. Trade: Advocating for fair trade practices and addressing trade imbalances to benefit developing countries.
3. Finance: Pushing for increased financial assistance, debt relief, and access to capital for development projects.
4. Sustainable Development: Advocating for environmentally sustainable development practices and addressing climate change.
5. Global Governance: Participating in discussions on UN reforms and equitable representation within international institutions.
While the G-77 represents a diverse group of countries with varying levels of development, its unity enables it to have a stronger negotiating position in international forums and to advance the interests of developing nations on a global scale.
