The United Nations Conference on Trade and Development (UNCTAD) is an intergovernmental body established by the United Nations General Assembly in 1964. UNCTAD's primary objective is to promote sustainable development and equitable integration of developing countries into the global economy. It functions as a forum where member nations can discuss and coordinate policies related to trade, investment, finance, technology transfer, and sustainable development.
UNCTAD's mandate is to help developing countries, particularly the least developed ones, to overcome structural economic challenges and improve their participation in international trade. It conducts research and analysis on global economic issues, provides technical assistance and capacity-building programs, and offers policy recommendations to member states.
By fostering dialogue and cooperation between governments, UNCTAD aims to address the imbalances and inequalities in the global trading system. It advocates for fair and inclusive trade policies, promotes equitable distribution of benefits from trade, and seeks to enhance the development prospects of developing countries. Additionally, UNCTAD contributes to policy discussions on global governance and provides a platform to negotiate international trade agreements.
UNCTAD also focuses on the importance of sustainable development, recognizing that economic growth must go hand in hand with social inclusivity and environmental preservation. It provides guidance on integrating sustainable practices into trade and investment policies and assists countries in aligning their development strategies with the United Nations Sustainable Development Goals.
In summary, UNCTAD is an intergovernmental organization that supports developing countries by providing policy advice, technical assistance, and capacity-building programs focused on trade, investment, finance, technology, and sustainable development.
