Group of 77

Group of 77 or G-77, also known as United Nations Conference on Trade and Development (UNCTAD) Group of 77, grouping of developing countries formed in October 1967 to harmonize their negotiating positions on trade and economic development, to promote their economic interests, and to enhance their bargaining power. Its original objective was to coordinate the policies of developing countries at sessions of the United Nations (UN). As its title suggests, the Group was formed by 77 countries, but as of early 2005 had 132 members (including Palestine). It produces joint declarations on specific topics and coordinates a programme of cooperation on trade, industry, food and agriculture, energy, raw materials, finance, and monetary matters. In 1988 G-77 adopted the Agreement on a Global System of Trade Preferences Among Developing Countries (GSTP), which makes tariff concessions, particularly on agricultural products and manufactures.

The Group holds an annual meeting of ministers in New York; its decisions are relayed by the Follow-up and Coordination Committee to regional chapters in Geneva, Nairobi, Paris, Rome, Vienna, and Washington, D.C.; action committees are then allocated specific activities. Group finances derive from members' contributions.