United Nations Conference on Trade and Development

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United Nations Conference on Trade and Development

Also called UNCTAD. An organization created by the United Nations in 1964 and charged with increasing international trade and investment, especially in developing countries. It was responsible for implementing the Generalized System of Preferences, which exempted some developing countries from WTO trade requirements.

United Nations Conference on Trade and Development (UNCTAD)

an international institution which promotes the economic interests of DEVELOPING COUNTRIES by sponsoring INTERNATIONAL COMMODITY AGREEMENTS to improve export earnings on primary foodstuffs and minerals; by negotiating QUOTA and TARIFF reductions on developing countries' exports of manufacturers to the developed world; and by securing economic aid packages for its members.

United Nations Conference on Trade and Development (UNCTAD)

a multinational institution established in 1965 to represent the economic interests of the DEVELOPING COUNTRIES and to promote the ideals of the NEW INTERNATIONAL ECONOMIC ORDER.

Unctad's main work is undertaken at a series of conferences, held every four years, and has centred on three areas of particular concern to the developing countries:

  1. EXPORTS of manufactures, where it has attempted to negotiate TARIFF- and QUOTA-free access to the markets of the developed countries. This is in addition to those concessions obtained through the WORLD TRADE ORGANIZATION (WTO);
  2. exports of commodities, where it has promoted the extension of INTERNATIONAL COMMODITY AGREEMENTS aimed at stabilizing the export prices of primary products as a means of stabilizing developing countries’ foreign exchange earnings and producers’ incomes;
  3. ECONOMIC AID, where it has attempted to secure a greater volume of financial assistance and technology transfer from the developed countries.

So far, Unctad has achieved very little, mainly because developed countries have not been prepared to support Unctad initiatives to the fullest extent.

As a result of the growing foreign exchange problems and balance of payments difficulties of developing countries, the INTERNATIONAL MONETARY FUND has established a number of‘special’ funding facilities for those countries.

References in periodicals archive ?
Kenya, South Africa, Nigeria and Egypt were the only countries in Africa selected for the survey conducted by Paris-headquartered global research firm, Ipsos, on behalf of the Centre for International Governance Innovation (CIGI) in partnership with UNCTAD and the Internet Society.
Although these numbers are not very large in relation to global trade [about $17 trillion in 2017], for many countries they represent a substantial share of export,' Unctad said.
In contrast to the overall decline in foreign investment, the UNCTAD report highlights a 42 per cent increase in so-called "greenfield" projects, to $454 billion.
UNCTAD observed a worrying negative trend in the rate of return for global investments.
In a bilateral meeting with Secretary General UNCTAD, the minister reflected upon the achievements of Pakistan in the arena of ICT and future plans for continued growth in this sector to enable transformation into 'Digital Pakistan'.
IPR has been conducted by UNCTAD in cooperation with the RCC's South East European Investment Committee (SEEIC) and it was finalized upon extensive consultations with national stakeholders from seven SEE economies: Albania, Bosnia and Herzegovina, Montenegro, Moldova, Serbia, The Former Yugoslav Republic of Macedonia and Kosovo.
It is worth mentioning that the Sudan Mission in Geneva and UNCTAD are currently arranging an investment forum for the Sudan at the beginning of 2018 in Geneva, with the participation of the relevant ministries and the private sector from the Sudan as well as the African, Arab and Swiss Chambers of Commerce, beside the Swiss businessmen, investors and companies.
He emphasized the need to explore avenues to strengthen relations between UNCTAD and the Government of Sri Lanka to promote Science, Technology and Innovation for SDG achievement in Sri Lanka and to assess a policy review on Science, Technology and Innovation in Sri Lanka.
"Iran attracted $3.37 billion in 2016," the UNCTAD said in its latest report released in June 2017.
Summary: According to the most recent report of the United Nations Conference on Trade and Development (UNCTAD) published on Wednesday, June 7, 2017, foreign direct investment (FDI) to Africa fell by
Muscat, Oct 9 (ONA) The 35th Thirty-fifth Regional Course on Key Issues on the International Economic Agenda organized by the Ministry of Commerce and Industry in collaboration with United Nations Conference on Trade and Development (UNCTAD) started today and lasts up to 27th of this month.
He was delivering the Asia-Pacific Group statement at the Group of 77 and China Ministerial Meeting on the sidelines of the 14th session of United Nations Conference on Trade and Development (UNCTAD) in Nairobi, Kenya.