United Nations Conference on Trade and Development (UNCTAD)

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UNCTAD recently raised an alarm over escalating disruptions in shipping routes for global trade in a new report.

About United Nations Conference on Trade and Development (UNCTAD)

  • It is the UN’s leading institution dealing with trade and development.
  • It is a permanent intergovernmental body established by the United Nations General Assembly in 1964. 
  • Its objective is to assist developing countries, especially the least developed countries, and countries with economies in transition, to integrate beneficially into the global economy.
  • It also seeks to help the international community promote a global partnership for development, increase coherence in global economic policy making, and assure development gains for all from trade.
  • 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.
  • Headquarter: Geneva, Switzerland.
  • UNCTAD membership consists of 195 states.
  • Its activities are advisory by nature.
  • Structure:
    • The highest policy-making body of UNCTAD is the Conference, which meets once every four years to set policy guidelines and formulate a program of work.
    • The Trade and Development Board, UNCTAD’s executive body, is responsible for the operations of the organization when the Conference is not in session.
    • The UNCTAD Secretariat, whose members form part of the UN Secretariat, performs policy analysis, monitors and implements the decisions of UNCTAD’s intergovernmental bodies, and provides for technical cooperation and exchanges of information.
  • Reports published by UNCTAD:
    • Trade and Development Report
    • World Investment Report
    • The Least Developed Countries Report

Q1) What is the United Nations General Assembly (UNGA)?

The UN General Assembly (UNGA) is the main policy-making organ of the Organization. Comprising all Member States, it provides a unique forum for multilateral discussion of the full spectrum of international issues covered by the Charter of the United Nations. Each of the 193 Member States of the United Nations has an equal vote.

Source: UNCTAD raises alarm over disruptions in shipping routes for global trade