New Delhi Conference

The New Delhi Conference, held in February and March 1968, was a forum that allowed developing countries to reach an agreement on the basic principles of their development policies. The conference in New Delhi was an opportunity for schemes to be finally approved. The conference provided a major impetus in persuading the North to follow up UNCTAD I resolutions, in establishing generalized preferences. The target for private and official flows to LDCs was raised to 1% of the North's GNP, but the developed countries failed to commit themselves to achieve the target by a specific date. This has proven a continuing point of debate at UNCTAD conferences. The conference led to the International Sugar Agreement, which seeks to stabilize world sugar prices.