The Group of 77 (G77) was established on June 15, 1964 by the signatories of seventy-seven developing countries under the "Joint Declaration of the Seventy-Seven", issued at the end of the first Session of the United Nations Conference on Trade and Development (UNCTAD) in Geneva.
From the first "Ministerial Meeting of the Group of 77” in Algiers, Algeria, from the 10th to the 25th of October, 1967, the “Charter of Algiers" was adopted, and a permanent institutional structure was created, which gradually led to the creation of Chapters of the Group of 77 with liaison offices in Geneva (UNCTAD), Nairobi (UNEP), Paris (UNESCO), Rome (FAO / IFAD), Vienna (UNIDO) and the Group of 24 (G-24) in Washington (IMF and World Bank). Although the country members of the G-77 have increased to 131 countries, the original name was kept due to its historical meaning.
The G-77 is the largest intergovernmental organization of developing countries at the United Nations which provides the means for countries of the South to articulate and promote their collective economic interests and enhance their ability for joint negotiation on major international economic issues in the United States, the United Nations system, and promote South-South cooperation for development.
The Presidency is the highest political body within the organizational structure of the G -77 and rotates on a regional basis (between Africa, Asia and Latin America and the Caribbean); it is kept for one year in all chapters. Currently, the Republic of Argentina is chairing the G-77.
The South Summit is the highest decision-making body of the G-77. The South Summits were held in Havana, Cuba, on April 10 to 14, 2000 and in Doha, Qatar on June 12 to 16, 2005. In accordance with the principle of geographic rotation, the Third Summit will be held in South Africa.
The annual meeting of Foreign Ministers of the G-77 is summoned at the beginning of the period of sessions of the General Assembly of the United Nations in New York. Sectoral ministerial meetings are called periodically to prepare the UNCTAD sessions and the conferences of UNIDO and UNESCO.