TEHRAN, Feb. 24 (Press Shia) – Iran’s Ambassador to the International Atomic Energy Agency Reza Najafi has been appointed by consensus as the chairman of Group-77 for a one-year term.

The Group of 77 (G-77), as the largest Third World coalition in the United Nations, was established on 15 June 1964 by seventy-seven developing countries, including Iran, that were signatories of the “Joint Declaration of the Seventy-Seven Countries” issued at the end of the first session of the United Nations Conference on Trade and Development (UNCTAD) in Geneva.

Although the membership of the G-77 has increased to 134 countries, the original name was retained because of its historic significance.

The Group of 77 aims to provide the means for the developing world to promote its collective economic interests and enhance its joint negotiating capacity on all major international economic issues in the United Nations system, and promote economic and technical cooperation among developing countries.

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