The United Nations Conference on Trade and Development (UNCTAD) was established in 1964. UNCTAD promotes the development-friendly integration of developing countries into the world economy. Presently, 193 countries are members of UNCTAD. UNCTAD ensures that domestic policies and international action are mutually supportive in bringing about sustainable development.
The three key functions of UNCTAD are as follows:
- It functions as a forum for intergovernmental discussions, supported by experts.
- It undertakes research, policy analysis and data collection for the debates of government representatives and experts.
- It provides technical assistance to developing countries, especially to the needs of the least developed countries and economies in transition.
UNCTAD works together with member Governments, governmental and non-governmental organizations, research institutes, universities worldwide, and trade and research institutions to perform its functions.