Glossary
United Nations Conference of Trade and Development
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The Vital Role of the United Nations Conference of Trade and Development (UNCTAD)
The United Nations Conference on Trade and Development, often abbreviated as UNCTAD, is a specialized agency of the United Nations established in 1964. UNCTAD plays a crucial role in promoting international trade and development and provides valuable insights and guidance on various aspects of global trade and investment.
- UNCTAD offers policy advice and technical assistance to member states, helping them formulate and implement trade and development policies that align with their economic goals.
- UNCTAD provides capacity-building programs and training to help countries enhance their trade-related skills and infrastructure.
- UNCTAD actively promotes trade facilitation measures to simplify and streamline international trade processes. It advocates for reducing trade barriers, enhancing customs procedures, and improving transport and logistics infrastructure to make trade more efficient and cost-effective.
- It places a strong emphasis on sustainable development. It explores ways to ensure that trade and investment activities contribute to environmental protection, social inclusion, and economic development.
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