The Kuala Lumpur Declaration of 1971 is an Agreement On Developing Countries’ Economic Cooperation.
The Kuala Lumpur Declaration of 1971 is a significant agreement among developing countries. It was signed by the heads of state and government of 25 participating nations at the Second Conference of Heads of State or Government of Non-Aligned Countries held in Kuala Lumpur, Malaysia.
The declaration highlights the need for economic cooperation and solidarity among developing countries to promote their self-reliance and economic growth. It acknowledges the challenges faced by developing countries in attaining economic development, such as the limited access to capital, technology, and markets.
The signatories of the declaration pledged to take measures towards achieving a new international economic order, which would be fair, just, and equitable. They recognized the importance of expanding trade relations among developing countries, promoting the transfer of technology and knowledge, and increasing investment flows.
Additionally, the declaration emphasized the need to promote international cooperation and solidarity to address the common concerns of developing countries, such as the struggle against colonialism, apartheid, and imperialism.
The Kuala Lumpur Declaration of 1971 was an essential milestone in developing countries’ history as it represented their collective determination to chart their development course and pursue economic cooperation. It served as a platform for the creation of various regional economic cooperation arrangements, such as the Association of Southeast Asian Nations (ASEAN), the Economic Community of West African States (ECOWAS), among others.
In conclusion, the Kuala Lumpur Declaration of 1971 is a landmark agreement that remains relevant today. It represented the collective determination of developing countries to achieve economic development and promote cooperation. The principles and commitments espoused in this declaration continue to guide developing countries’ efforts towards economic cooperation and self-reliance.