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UN Conference on Trade and development
- In the early 1960s, growing concerns about the place of developing countries in international trade led many of these countries to call for the convening of a full-fledged conference specifically devoted to tackling these problems and identifying appropriate international actions.
- The first United Nations Conference on Trade and Development (UNCTAD) was held in Geneva in 1964. Given the magnitude of the problems at stake and the need to address them, the conference was institutionalized to meet every four years, with intergovernmental bodies meeting between sessions and a permanent secretariat providing the necessary substantive and logistical support.
UNCTAD helps countries to:
- 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
- Attract investment and make it more development-friendly
- Increase access to digital technologies
- Promote entrepreneurship and innovation.
- Help local firms move up value chains.
- Speed up the flow of goods across borders.
- Protect consumers from abuse.
- Curb regulations that stifle competition.
- Adapt to climate change and use natural resources more effective.