ABSTRACT
Regional cooperation among developing countries (RCDC) is the operational modality of Economic co-operation among developing countries (ECDC). The way in which the majority of the currently planned steps and measures can be implemented. RCDC, joined with interregional co-operation among the regional groups of developing countries, and between developing and developed country groupings, is the logical manner to proceed toward the implementation of the objectives of the New International Economic Order. The priority sectors for ECDC identified by the Group include trade, technology, food and agriculture, energy, raw materials, finance, industrialization, and technical cooperation. Increased regional co-operation in the area of long-term finance is an essential prerequisite for exploiting the full industrial and agricultural production capacity of developing countries. The innovative form of RCDC in the financial area involves a major step toward the restructuring of the international monetary system through the creation of joint regional financing facilities.
