UNCTAD Full Form: Work, Objective, Reports & More!

The United Nations Conference on Trade and Development promotes economic cooperation and integration among its member states. Today we will talk about UNCTAD, its History and its full form? And will give complete information about what its functions are. Here you will have the complete details on UNCTAD.

What is UNCTAD

The United Nations Conference on Trade and Development (UNCTAD) is a United Nations body responsible for dealing with development issues, particularly international trade.

Its work focuses on the following key areas: Least Developed Countries and Special Programmes; Globalization, interdependence and development; international trade and commodities; investment and enterprise; and technology and logistics. This work often results in analysis and recommendations that can inform national and international policy-making processes and promote economic policies to end global economic inequalities and generate people-centred sustainable development.

UNCTAD Overview

Today UNCTAD is functioning in more than 195 countries and dealing with trade, investment, and development issues.

UNCTAD	United Nations Conference on Trade and Development (UNCTAD)
Headquarters	Geneva, Switzerland
Formation	30 December 1964
Secretary-General	Rebeca Grynspan
Parent Organization	United Nations General Assembly, United Nations Secretariat
Website	www.unctad.org
Member	195 countries

UNCTAD Objectives

Framing policies in various domains such as trade, technology, finance, aid, and transport is the most important priority of UNCTAD. Geneva is the permanent secretariat of UNCTAD, and the conference ordinarily meets once in four years. Working at the national, regional, and global levels, our efforts help 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 effectively

Functions and Activities of UNCTAD

The Main Functions of the UNCTAD are:

(i) To promote international trade between developed and developing countries with a view to accelerating economic development.

(ii) To formulate principles and policies on international trade and related problems of economic development.

(iii) To make proposals for putting its principles and policies into effect,

(iv) To negotiate trade agreements.

(v) To review and facilitate the coordination of activities of the other U.N. institutions in the field of international trade.

(vi) To function as a centre for a harmonious trade and related documents in the development policies of governments.

UNCTAD Reports

UNCTAD produces several topical reports, including:

• The Trade and Development Report
• The Trade and Environment Review
• The World Investment Report
• The Economic Development in Africa Report
• The Least Developed Countries Report
• UNCTAD Statistics
• Digital Economy Report (formerly known as the Information Economy Report)
• The Review of Maritime Transport
• The International Accounting and Reporting Issues Annual Review
• The Technology and Innovation Report

Frequently Asked Questions (FAQs)