Briefly describe what the new international economic order includes?

Mondo International Updated on 2024-01-31

1) The sovereign equality of all States, the practice of national self-determination, the preservation of territorial integrity, non-interference in the internal affairs of other States, and the right of States to implement economic and social systems suitable for their own development;

2) All countries have full and permanent sovereignty over their own natural resources and all economic activities, and developing countries can make full use of their own resources, develop their national economies independently, and have the right to control, supervise and manage transnational corporations until nationalization measures are taken

3) Broad cooperation among countries on the basis of equity to ensure accelerated development for all developing countries, with special attention to assistance to underdeveloped countries;

4) Improving the conditions for establishing a fair and reasonable relationship between the export of raw materials, primary products and imported manufactured goods by developing countries, and the granting of preferential and non-reciprocal treatment to developing countries in all fields of international economic cooperation;

5) Provide active assistance to developing countries without any strings attached, promote the transfer of technology in favor of developing countries, reduce the debt burden, reform the international monetary system, and create favorable conditions for the transfer of financial funds to developing countries;

6) Strengthen economic and technical cooperation among developing countries, promote the role that producer country organizations can play in the context of international cooperation, develop regional economic cooperation, and promote the spirit of collective self-reliance.

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