UNCTAD's Mission to Integrate Developing Countries into Global Economy

What's Happening?

The United Nations Conference on Trade and Development (UNCTAD) was established in 1964 as the main organ of the United Nations General Assembly dealing with trade, investment, and development. Its mission is to integrate developing countries into the world economy, ensuring that domestic policies and international actions are mutually supportive in achieving sustainable development. UNCTAD acts as a forum for intergovernmental deliberations, undertakes research and policy analysis, and provides technical assistance tailored to the specific needs of developing countries. This approach aims to build consensus and support the development goals of these nations.

Why It's Important?

UNCTAD's work is significant in promoting sustainable development and economic growth in developing countries. By facilitating dialogue and providing technical assistance, UNCTAD helps these countries navigate complex international trade negotiations and formulate effective policies. This support is crucial for developing countries to enhance their economic capabilities and participate more fully in the global economy. The organization's efforts contribute to reducing economic disparities and fostering a more inclusive global trade environment, which is essential for achieving long-term development goals.