What is UNCTAD and its function?
UNCTAD is the part of the United Nations Secretariat dealing with trade, investment, and development issues. The organization’s goals are to: “maximize the trade, investment and development opportunities of developing countries and assist them in their efforts to integrate into the world economy on an equitable basis”.
What is the full meaning of UNCTAD?
The first United Nations Conference on Trade and Development (UNCTAD) was held in Geneva in 1964.
What are the objectives of UNCTAD?
UNCTAD Objectives Comprehend options to address macro-level development challenges. Achieve beneficial integration into the international trading system. Diversify economies to make them less dependent on commodities. Limit their exposure to financial volatility and debt.
What is UNCTAD Upsc?
The United Nations Conference on Trade and Development (UNCTAD) is a body of the UN that aims to develop opportunities, investments and trade in developing countries. Such international bodies and programs are relevant to the IAS exam.
What is the structure of UNCTAD?
In terms of structure, UNCTAD consists of the Conference, the Trade and Development Board (TDB) and subsidiary intergovernmental bodies, together with the secretariat.
What are the basic principles of UNCTAD?
Basic principles of UNCTAD technical cooperation:
- Embracing country ownership.
- Based on principle of transparency, efficiency, effectiveness and accountability.
- Geographically balanced implementation.
Who is the head of UNCTAD?
Rebeca Grynspan, of Costa Rica, was appointed the eighth Secretary-General of United Nations Conference on Trade and Development (UNCTAD) on 13 September 2021. She is the first woman to hold this position in the history of the organization.
Why was UNCTAD formed?
United Nations Conference on Trade and Development (UNCTAD), permanent organ of the United Nations (UN) General Assembly, established in 1964 to promote trade, investment, and development in developing countries.
What is the role of UNCTAD in the development of trade?
“UNCTAD´s main role in the field of trade in goods and services should be to help maximize the positive impact of globalization and liberalization on sustainable development, by assisting in the effective integration of developing countries and economies in transition into the international trading system and …
Who spearheaded the creation of UNCTAD?
The developing nations established the Group of 77 to raise their issues. (as of now the G77 has 131 members.) The Argentina based economist Raúl Prebisch, who had headed the United Nations Economic Commission for Latin America and the Caribbean, became the UNCTAD’s founder Secretary-General.
How did the creation of UNCTAD improve the world economy?
UNCTAD was established to promote development among the so-called “un-developed” and “under-developed” newly independent countries. Its purpose was to facilitate the integration of these economies into the world economy through a balanced approach.
Why was UNCTAD created?