UNCTAD

The United Nations Conference on Commerce and Development (UNCTAD), founded in 1964 by the General Assembly, is the UN organisation in charge of dealing with development concerns related to international trade – a key driver of sustainable development. UNCTAD aims to maximise developing countries’ trade, investment, and growth prospects and support them in their attempts to integrate into the global economy on an equitable basis through its three pillars of policy analysis, consensus building, and technical assistance.

The United Nations Conference on Trade and Development (UNCTAD) is the UN’s central point for trade and development and connects finance, technology, investment, and sustainable development concerns. Its goal is to help developing nations, particularly the least developed countries and those in transition, integrate more effectively into the global economy. It also aims to assist the international community in promoting a global partnership for development, increasing consistency in global economic policymaking, and ensuring that trade results in development advantages for all.

Foundation

• Growing worries over developing nations’ role in international commerce prompted several of these countries to demand the convening of a full-fledged conference devoted only to addressing these issues and adopting suitable global actions in the early 1960s.
• In 1964, the United Nations Conference on Trade and Development (UNCTAD) convened its inaugural meeting in Geneva. The UNCTAD headquarters are in Geneva.
• Given the gravity of the issues at hand and the urgency they must address, the conference was formalised to meet every four years, with international bodies convening in between sessions and a permanent secretariat providing substantive and logistical assistance.
• Simultaneously, the Group of 77 was formed by developing nations to express their concerns. (The G77 now has 131 members.)
• The organization’s first Secretary-General was Ral Prebisch, a distinguished Argentinian economist who previously chaired the United Nations Economic Commission for Latin America and the Caribbean.

Purpose

The United Nations Conference on Trade and Development (UNCTAD) was founded to encourage development among newly independent nations classified as “undeveloped” or “underdeveloped.” Its goal was to make it easier for small economies to integrate into the global economy by taking a balanced approach. 

The United Nations Conference on Trade and Development (UNCTAD) was established in 1964 to carry out a development mandate. Since then, the world has changed dramatically. The North/South axis is still a reality, although it is becoming less so as emerging countries become more diverse. The wisdom of the early proponents of political democracy and economic incentives has been placed into sharp focus by the thought on proper development strategy. 2 Report of the Panel of Eminent Persons. The role of the external environment in which developing nations must operate has also shifted from being viewed as a danger to being viewed as an opportunity.

Major global challenges

Attempts to re-establish the global economy and accelerate progress toward the timely achievement of the Sustainable Development Goals occur amid enormous global issues that have become more acute since the Conference’s fourteenth session. Growing inequality and vulnerability, exceptionally high debt levels are among these issues, as is accelerated climate change, ongoing environmental damage, and the rising digital gap. Therefore, accomplishing the 2030 Agenda and resuming progress would require all development institutions and stakeholders to perform their assigned roles in the global endeavour to achieve prosperity for everyone.

In tackling these three concerns, UNCTAD should consider several critical underlying issues for inclusive, sustainable, and equitable growth and development, most prominently:

• Respect for human rights, particularly the right to development, gender equality, the empowerment of women and youth, and a general commitment to a fair, non-discriminatory, and democratic society founded on the rule of law.
• Continue to improve its efficiency, effectiveness, transparency, and accountability, primarily via efficient results-based management and to maintain a member-state-driven process through the intergovernmental machinery and ensure optimal resource use.

Conclusion

UNODC has played a vital role in aiding the Member States in creating and implementing drug control policies over the past 25 years. Alternative development is a critical component of a comprehensive drug control strategy. It remains the primary tool used by the Members States and the UNODC to combat illicit drug crop growing. The UNODC’s alternative development programmes focus on assisting small farmers with licit revenue production activities to lessen their reliance on opium and coca-growing as a source of income. In addition, health, education, basic infrastructure, community development, and food security are key priorities. Environmental protection and increased markets for alternative development items are given particular emphasis.