UNCTAD
The Formation of UNCTAD During the course of the working GATT earned the dubious distinction of sending the interests developed nations and was nicknamed as the “Rich men’s club”. The developing Countries Constituting a majority of the GATT’s members Wanted to revive the idea of setting up the IT while USA, that had scuttled it earlier, opposed the idea. To find a solution to the deadlock, the UN appointed a committee that suggested a sort of via media-U NCTAD (United Nations Conferen on Trade and Development). Accor- ingly, the UNCTAD was established in 1964 to perform m following functions: • To promote inte(natjonaj trade with at view to accelerating economic development. • To formulate principles and policies on international trade and related problems of economic development. • To negotiate multinational trade agreements. • To make proposals for putting its principle and policies into effects. The major activities of UNCTAD include undertaking research and extending support f...