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 for negotiations for commodity agreements, technical elaborations of new trade activities designed to assist low income countries in the areas of trade and capital.
The UNCTAD managed to obtain some concessions for the developing countries, more important among them being the General Scheme for Trade Preferences (GSTP). The GAl I was also progressively made more liberal. The Uruguay Round of the GATI also found ways and means to expand the scope of the organization by including services, investment and intellectual property rights. The UR proposals were accepted by all the members of the GATT in December 1993 at the official level and in March 1994 at the ministerial level. The UR agreement thus called for the establishment of the WTO. Table 13 .1 provides a chronological development of the WTO.
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 for negotiations for commodity agreements, technical elaborations of new trade activities designed to assist low income countries in the areas of trade and capital.
The UNCTAD managed to obtain some concessions for the developing countries, more important among them being the General Scheme for Trade Preferences (GSTP). The GAl I was also progressively made more liberal. The Uruguay Round of the GATI also found ways and means to expand the scope of the organization by including services, investment and intellectual property rights. The UR proposals were accepted by all the members of the GATT in December 1993 at the official level and in March 1994 at the ministerial level. The UR agreement thus called for the establishment of the WTO. Table 13 .1 provides a chronological development of the WTO.
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