UNCTAD (United Nations Conference on Trade and Development) rebranded as UN Trade and Development.
About UNCTAD (United Nations Conference on Trade and Development):
- The UNCTAD, short for United Nations Conference on Trade and Development, was established in 1964. It was set up as a permanent intergovernmental body by the United Nations General Assembly.
- Its main goal is to assist developing countries, especially those that are least developed or transitioning, to effectively integrate into the global economy.
Membership
- UNCTAD has 195 member nations, including India.
Headquarters
- The headquarters of UNCTAD are in Geneva, Switzerland.
Missions of UNCTAD:
- UNCTAD helps countries explore options to tackle large-scale development challenges.
- It supports efforts to diversify economies and reduce reliance on commodities.
- The organization aims to limit exposure to financial volatility.
- UNCTAD promotes a global partnership for development and seeks to improve coherence in global economic policymaking.
- It ensures that all countries reap the benefits of development gains linked to trade.
Objectives of UNCTAD:
- Diversify economic activities to minimize dependence on commodities.
- Promote global partnerships and coherence in economic policy-making.
- Ensure that all countries benefit from trade-related development gains.
Structure of UNCTAD:
- The highest policy-making body of UNCTAD is the Conference, which meets every four years to establish policies and create work programs.
Functions of UNCTAD:
- The Trade and Development Board acts as the executive body, managing operations when the Conference is not in session.
- The UNCTAD Secretariat, a part of the UN Secretariat, carries out policy analysis, monitors and implements decisions, and facilitates technical cooperation and information exchanges.
Key Activities of UNCTAD:
- UNCTAD conducts economic and trade analysis and facilitates consensus-building.
- It offers technical assistance to make use of trade, investment, finance, and technology for inclusive and sustainable development.
Reports of UNCTAD:
- The organization publishes important reports such as the Trade and Development Report, the World Investment Report, and the Least Developed Countries Report.
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