MOSCOW (Sputnik) — The format of the Group of 20 of the world’s leading economies is more capable of having an impact on international situations than the G8 format, which Russia is beginning to lose interest in, Kremlin spokesman Dmitry Peskov said Monday.
“Overall the relation to the current configuration of various formats has already been said at different venues, and of course the G20 format has been shown to be more presentable and more capable in today’s international situation. This format has a much wider potential,” Peskov told RIA Novosti when asked whether Russia would return to the G8.
He said that Russia would first of all need to determine whether it needs to be in the G8.
“Of course, if we take into the discussion Russia’s participation or non-participation in one or another format, first of all you need to understand Russia’s intentions or the lack of intentions for that, so today Russia’s interest in the G8 isn’t as much as it was before,” Peskov said.
Previoulsly, Kremlin spokesman Dmitry Peskov noted that reviving the G8 was not on Russia’s agenda as the country was more interested in cooperating with the G20 nations.
BRICS are developing active cooperation and collaboration with many countries that are outside G-20.
Group of 77
The Group of 77 (G-77) was established on 15 June 1964 by 77 developing countries 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.
As the largest intergovernmental organization of developing countries in the United Nations, the G-77 provides a means for developing countries to articulate and promote their collective economic interests and enhance their joint negotiating capacity on all major issues within the United Nations system, including the promotion of SSC for development.
Although the membership of the G-77 has increased to 131 countries, the original name has been retained owing to its historic significance. Since 2000, the G-77 has convened South Summits every five years and the UN Office has been called on to implement some of the decisions of the first and second South Summits.
As the largest Third World coalition in the United Nations, the Group of 77 provides the means for the developing world to articulate and 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 (ECDC/TCDC).
The organization and modalities of work of the G-77 in the various Chapters have certain minimal features in common such as a similarity in membership, decision-making and certain operating methods. The Group’s work in each Chapter is coordinated by a chairman who acts as its spokesman. The chairmanship rotates on a regional basis (between Africa, Asia, and Latin America and the Caribbean) and is held for one year in all the Chapters. Currently the Islamic Republic of Iran holds the Chairmanship of the Group of 77 in New York for the year 2001.
The Ministerial Meeting is the supreme decision-making body of the Group of 77. They are convened annually at the beginning of the regular sessions of the General Assembly of the United Nations in New York and periodically in preparation for UNCTAD sessions and the General Conferences of UNIDO and UNESCO. Special Ministerial Meetings are also called as needed such as on the occasion of the Group’s 25th anniversary (Caracas, June 1989) and 30th anniversary (New York, June 1994). In April 2000 the Group of 77 met for the first time at the level of heads of state or government which therefore elevated decision-making within the Group of 77 to the highest political level.
The Intergovernmental Follow-up and Coordination Committee on Economic Cooperation among Developing Countries (IFCC) is a plenary body consisting of senior officials which meets once every two years to review the state of implementation of the Caracas Programme of Action (CPA) adopted by the Group of 77 in 1981. The IFCC was last convened in Manila in 1996. Subsidiary structures created to support the CPA include, among others, the Core of Assistants to the Chairman of the Group of 77, the Committee of Experts of the Perez-Guerrero Trust Fund (PGTF) for ECDC/TCDC, the General Conference and Steering Committee of Chambers of Commerce and Industry of the Group of 77, Action Committees, and National Focal Points for ECDC.
- Journal of the Group of 77, periodical newsletter published in English.
- The Third World without Superpowers: The Collected Works of the Group of 77 (20 volumes), 1983-. Oceana Publications, Dobbs Ferry, New York.
- Guide to ECDC: Supplement to the ECDC Handbook, 1983.
Economic and Technical Cooperation among Developing Countries: the Group of 77 in Action, 2 vols., 1984.
- Raul Prebisch: Obras, 1919-1949, vols. III and IV, 1994. Published in cooperation with the Raul Prebisch Foundation (Argentina) with financial support from the Perez- Guerrero Trust Fund.
- 30 Years of the Group of 77 (1964-1994), 1994. South Centre publications, Geneva.