The non-aligned countries were more than merely mediators during the’ Cold War. The challenge for most of the non-aligned countries a majority of them were categorized as the Least Developed Countries (LDCs) was to be more developed economically and to lift their people out of ***. Economic development was also vital for the independence of the new countries. Without sustained development, a country could not be truly free. It would remain dependent on the richer countries including the colonial powers from which political freedom had been achieved. The idea of a New International Economic Order (NIEO) originated with this realization.
The UNCTAD brought out a report in 1972 entitled Towards a New Trade Policy for Development. The report proposed a reform of the global trading system so as to:
(i) give the Least Developed Countries (LDCs) control over their natural resources exploited by the developed western countries.
(ii) obtain access to western markets so that LDCs would sell their products and, therefore, make trade more beneficial for the poorer countries.
(iii) reduce the cost of technology from the western countries, and
(iv) provide the LDCs with a greater role in international economic institutions.
