NIEO or the New International Economic Order was an idea that originated with the realisation that economic development was vital for the independence of the new countries which more often than not was marked as Least Developed Countries or LDCs. Its main objective was the upliftment and development of the LDCs through trade regulations and negotiations with the developed countries of the West. It aimed to stop the exploitation of the LDCs by the developed countries and provide the LDCs with a platform to contribute in the international economic institutions in a better manner.