NIEO is the New International Economic Order. NIEO was a set of proposals put forward during the 1970s by the developing countries with the following main objectives:(i) To revise the international economic system in favour of the developing countries.(if) The developing nations wanted a system that would give them a real control over their natural resources.(iii) The developing countries wanted to set up a system under which they could get a fairer price for raw materials, and better access for their manufactured goods in the developed countries markets.(iv) Developing countries must be entitled to regulate and control the activities of the Multinational Corporations (MNCs) .