At which Special Session of the United Nations General Assembly in 1975, a declaration was made for the establishment of a New International Economic Order (NIEO). It is regarded as “a turning-point in the evolution of the international community.

The correct answer is Sixth Special Session.

Key Points

• The Sixth Special Session of the United Nations General Assembly was held in 1974 and is known for the adoption of the Declaration on the Establishment of a New International Economic Order (NIEO).
• The NIEO declaration aimed to address the economic disparities between developed and developing nations.
• The Declaration was a result of growing demands from developing countries, particularly from the Group of 77 (G-77), for a more equitable international economic system.
• The Sixth Special Session is regarded as a historic turning point in fostering global economic justice and solidarity.
• The session emphasized principles such as sovereignty over natural resources, fairer trade terms, and financial reforms to benefit developing countries.

Additional Information

• New International Economic Order (NIEO):
  • The NIEO was a set of proposals aimed at restructuring the global economy to reduce inequalities between the Global North and Global South.
  • It called for sovereign control over natural resources, better trade terms, and increased financial aid to developing nations.
  • The NIEO was a response to the economic domination of developed countries over global trade and finance systems.
• Group of 77 (G-77):
  • The G-77 is a coalition of developing nations established in 1964 at the United Nations Conference on Trade and Development (UNCTAD).
  • It was instrumental in advocating for the NIEO and continues to represent the interests of the Global South in international negotiations.
• Key Principles of NIEO:
  • Economic sovereignty and control over natural resources.
  • Fairer trade relations and access to technology for developing countries.
  • Reforms in international financial institutions to ensure equitable representation.
• Impact and Legacy:
  • Though the NIEO faced resistance from developed nations and was not fully implemented, it raised awareness about global economic inequalities.
  • The principles of the NIEO continue to influence discussions on sustainable development and South-South cooperation.