The Group of 77 (G-77) is an intergovernmental organization and a coalition of developing countries within the United Nations system, designed to promote their collective economic interests and enhance their joint negotiating capacity. It was founded on June 15, 1964, by 77 non-aligned nations who signed the "Joint Declaration of the Seventy-Seven Countries" at the conclusion of the first session of the United Nations Conference on Trade and Development (UNCTAD) in Geneva. The group was created to solve the problem of developing countries feeling marginalized and lacking representation in the international economic and political arena, which was largely dominated by developed nations.
The G-77's mechanism is based on collective bargaining and lobbying within the UN system, with the aim of establishing a united front on issues of common concern. Its basic principles were outlined in the Charter of Algiers, adopted at the first Ministerial Meeting in Algiers in October 1967. The organization has a permanent institutional structure with Chapters in key international locations like Geneva (UNCTAD), Rome (FAO), Vienna (UNIDO), and New York (UN Headquarters). The highest decision-making entity is the South Summit, which convenes periodically. The Chairmanship, which is the highest political body, rotates annually on a regional basis among Africa, Asia-Pacific, and Latin America and the Caribbean.
The G-77 is closely connected to the concept of South-South cooperation and the Global South, advocating for a New International Economic Order. It is often juxtaposed with the G7 group of the world's wealthiest nations. Although the number of members has expanded to 134 countries, the original name has been retained due to its historical significance. A notable recent development is the frequent inclusion of China in its activities, leading to the common designation "G77+China", although China does not formally consider itself a member. The group continues to focus on issues like climate financing, debt restructuring, and reform of global financial institutions.