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United Nations Conference on Trade and Development
Some of the most important objectives and functions of UNCTAD are given below:-
Objectives
The objective of UNCTAD is (a) to reduce and eventually eliminate the trade gap between the developed and developing Countries, and (b) and to accelerate the rate of economic growth of the developing world.
Functions:
The main Functions of the UNCTAD are:
(i) To promote international trade between developed and developing countries with a view to accelerate economic development.
(ii) To formulate principles and policies on international trade and related problems of economic development.
(iii) To make proposals for putting its principles and policies into effect, (iv) To negotiate trade agreements.
(iv) To review and facilitate the coordination of activities of the other U.N. institutions in the field of international trade.
(v) To function as a centre for a harmonious trade and related documents in development policies of governments.
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FAQs on UNCTAD - International Organisations and Arrangements, Business Environment - Business Environment - B Com
| 1. What is UNCTAD and what is its role in international organizations and arrangements? |  |
Ans. UNCTAD stands for the United Nations Conference on Trade and Development. It is a United Nations body that aims to promote inclusive and sustainable development through trade and investment. UNCTAD plays a crucial role in fostering cooperation among member states, providing policy advice, conducting research, and organizing conferences and meetings to address global trade and development issues.
| 2. How does UNCTAD contribute to improving the business environment? | |
Ans. UNCTAD contributes to improving the business environment by providing technical assistance and capacity-building programs to developing countries. It helps countries enhance their trade policies, promote investment, and strengthen their regulatory frameworks. UNCTAD also assists in creating an enabling environment for small and medium-sized enterprises (SMEs) by offering support in areas such as entrepreneurship development, access to finance, and market access.
| 3. What are some key international arrangements and agreements facilitated by UNCTAD? | |
Ans. UNCTAD has facilitated several key international arrangements and agreements, including the Generalized System of Preferences (GSP), which enables developing countries to access markets in developed countries on preferential terms. UNCTAD also played a critical role in the establishment of the United Nations Framework Convention on Climate Change (UNFCCC) and the World Trade Organization (WTO). Additionally, UNCTAD has been actively involved in the negotiation and implementation of various regional trade agreements.
| 4. How does UNCTAD promote sustainable development in the context of business? | |
Ans. UNCTAD promotes sustainable development in the context of business by encouraging responsible investment practices and promoting corporate social responsibility (CSR). It emphasizes the importance of integrating environmental, social, and governance (ESG) considerations into business strategies. UNCTAD also advocates for the use of trade and investment as tools for achieving sustainable development goals, such as poverty reduction, gender equality, and environmental sustainability.
| 5. How can businesses benefit from UNCTAD's work and initiatives? | |
Ans. Businesses can benefit from UNCTAD's work and initiatives in several ways. UNCTAD's research and analysis provide valuable insights into global economic trends, market opportunities, and policy developments. Businesses can access UNCTAD's technical assistance programs to enhance their competitiveness, expand their market access, and navigate regulatory challenges. Moreover, UNCTAD's platform and events offer opportunities for business networking, knowledge sharing, and collaboration with other stakeholders in the international trade and investment community.
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