UNCTAD
UNCTAD: United Nations Conference on Trade and Development. Established in 1964 through United Nations General Assembly resolution (XIX) 1995 to promote a greater participation by developing countries in the global trading system and thereby promote their economic development. It now has a membership of 188 countries. UNCTAD describes itself as the primary forum for analysis, discussion and consenus-building on policies designed to achieve sustainable development in all regions to accelerate growth in weaker economies. The reasons leading to the formation of UNCTAD were broadly the difficulties developing countries appeared to experience in furthering their economic development, and the absence of any specialized international organization which might have assisted them in this challenge. Pressure for adequate attention to their problems increased as many colonies became independent in the early 1960s. In 1961, the Second Committee of ECOSOC asked the United Nations Secretary- General to consult on the possibility of holding a world conference on international trade problems, and in 1962 the United Nations General Assembly decided to hold the conference in Geneva in 1964. This conference became known as UNCTAD I. One of its early effects was the formation of the Group of 77 which quickly seized the initiative in formulating the UNCTAD agenda. Many of the issues that would ultimately make up UNCTAD's work program were discussed at this conference, including commodities trade and arrangements, manufactures, transfer of capital and shipping. Later additions to the work program included debt, insurance, ECDC (economic cooperation between developing countries), restrictive business practices, transfer of technology, and the problems of least developed countries, among others. Despite the contribution UNCTAD
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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