The Commonwealth of Nations is a voluntary association of 54 sovereign states. Most of them were British colonies or dependencies of those colonies. No one government in the Commonwealth exercises power over the others, as is the case in a political union. Rather, the Commonwealth is an international organization in which countries with diverse social, political, and economic backgrounds are regarded as equal in status, and cooperate within a framework of common values and goals, as outlined in the Singapore Declaration issued in 1971. Such common values and goals include the promotion of democracy, human rights, good governance, the rule of law, individual liberty, equality before the law, free trade, multilateralism, and world peace, which are promoted through multilateral projects and m