Evaluate the NIEO of 1970s
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Posted by Reva Nahar 5 years, 7 months ago
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Yogita Ingle 5 years, 7 months ago
The most of the non-aligned countries were the Least Developed Countries (LDCs) and their main objective was development and to lift their people out of poverty.
The UN Conference on Trade and Development (UNCTAD) brought a report in 1972 entitled ‘Towards a New Trade Policy for Development’. It proposed the changes in the global trading system so as to :
(i) give the LDCs control over their natural resources.
(ii) obtain access to Western markets for the LDCs.
(iii) reduce the cost of technology from the Western countries, and
(iv) provide the LDCs a greater role in international economic institutions.
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