New International Economic Order

(redirected from Common Fund for Commodities)
Also found in: Acronyms.

New International Economic Order (NIEO)

an economic and political concept that advocates the need for fundamental changes in the conduct of INTERNATIONAL TRADE and ECONOMIC DEVELOPMENT to redress the economic imbalance between the DEVELOPED COUNTRIES and the DEVELOPING COUNTRIES. The UNITED NATIONS responded to the call of developing countries for such a change by issuing in 1974 a Declaration and Programme of Action on the Establishment of a New Inter-national Economic Order that laid down principles and measures designed to improve the relative position of the developing countries. These initiatives have centred on the promotion of schemes such as:
  1. INTERNATIONAL COMMODITY AGREEMENTS to support developing countries’ primary-produce exports;
  2. the negotiation of special trade concessions to enable developing countries’ manufactured exports to gain greater access to the markets of the developed countries;
  3. the encouragement of a financial and real resource transfer programme of ECONOMIC AID;
  4. an increase in economic cooperation between the developing countries.

These aspirations have been pursued primarily through the UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT

but as yet have met with little success. new-issue market see CAPITAL MARKET.

References in periodicals archive ?
Agreement Establishing the Common Fund for Commodities
He was later appointed as ambassador to Italy where as chief of mission to Rome, he also served concurrently as executive director of the Common Fund for Commodities and permanent representative to the Food and Agriculture Organization (FAO) and the International Fund for Agricultural Development.
1983 -- The Amir Sheikh Jaber Al-Ahmad Al-Sabah issued Law 10/83 approving an accord to establish the Common Fund for Commodities, endorsed by the UN Conference for Trade and Development (UNCTAD), in Geneva on June 27, 1980, and signed by Kuwait on December 1, 1981.
The ICO has been channeling grants through its Common Fund for Commodities, which was established in the late 1980s and became operational in early 90s.
The new joint initiative implemented by Sri Lanka Exports Development Board and the National Aquatic Development Agency (NAQDA) will enlist INFOFISH and Common Fund for Commodities (CFC) as resource partners.
The Common Fund for Commodities (CFC) in conjunction with the International Institute of Tropical Agriculture (IITA) has recently launched a scheme to utilise cassava as a high-quality flour.
The Amsterdam-based organisation, Common Fund for Commodities, noted that the oil-rich Gulf countries, are forced to import all their staple food needs, as they lack water for irrigation and fertile lands.
International Zinc Association (IZA), Common Fund for Commodities (CFC) and International Lead Zinc Study Group (ILZSG) have commenced a US$ 3.4 million project to demonstrate the best available technology for optimal production, environmental performance and energy management in hot dip galvanizing.
He has served on the Consultative Committee of the Common Fund for Commodities and has also worked at government level with Ministries in the Netherlands and various other countries.
ITC was Executing Agency for the Gourmet Coffee Project (1998-2000), which was financed by the Common Fund for Commodities and supported by the International Coffee Organization.
GRANT PROGRAMME: - Technical Assistance 3.04 2.93 99.13 91.65 - Special Contribution to IFAD -- -- 20.00 20.00 - Project Preparation -- -- 0.33 0.26 - Research and Similar Activities 0.67 0.48 4.72 3.66 - Emergency Aid 1.50 0.54 44.07 42.81 - Common Fund for Commodities -- -- 83.56 11.53 Sub Total: 5.21 3.94 251.80 169.90 4.