Economy, Domestic Economy

Iran Takes G77 Presidency

Iran Takes G77 PresidencyIran Takes G77 Presidency

Iran has taken over the presidency of the Group 77 (G77) in the Food and Agriculture Organization of the United Nations (FAO). The chairmanship was transferred from Cameroon to Iran in FAO headquarters in Rome, IRNA reported. The chairman of the Group 77 in FAO changes on an annual basis and is responsible for representation and coordination of the group’s proceedings within the organization over the year.  The Group of 77 at the United Nations is a coalition of developing nations, designed to promote its members’ collective economic interests and create an enhanced joint negotiating capacity at the world body. The organization was founded by 77 states in 1964 (Iran was one of the founding members). However, by November 2013, it expanded to 134 countries.