United Nations Conference on Trade and Development

United Nations Conference on Trade and Development Latest News

According to a new report by the United Nations Conference on Trade and Development (UNCTAD) developing countries could save nearly $500 billion annually if they were able to borrow at the same interest rates as developed economies. 

About United Nations Conference on Trade and Development

• It is a permanent intergovernmental body established by the United Nations General Assembly in 1964.
• It supports developing countries to access the benefits of a globalized economy more fairly and effectively.
• It provides economic and trade analysis, facilitates consensus-building and offers technical assistance to help developing countries use trade, investment, finance and technology for inclusive and sustainable development.
• It is part of the UN Secretariat.
• It reports to the UN General Assembly and the Economic and Social Council but has its own membership, leadership, and budget.
• It is also part of the United Nations Development Group.
• Members: 195 nations (including India)
• Headquarter: Geneva, Switzerland
• It 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
• Reports published by UNCTAD
  • Trade and Development Report
  • World Investment Report
  • The Least Developed Countries Report

Source: DTE

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