United Nations Conference on Trade and Development (UNCTAD)

UNO declared 1960-70 as the development decade. In 1961 UNO attempted to increase the income of developing countries with the growth rate of 5% p.a. during that development decade. In July 1960 a conference of developing countries was held at Cairo which resolved to convene a world conference for this purpose. Economic and Social Council of UNO organise a World Trade and Development Conference from March 31, 1964 to July 16, 1964. A worldwide International Trade Policy was determined in this conference. Various issues related to extension of international trade of developing countries were also discussed in that conference. The conference came to be known as UNCTAD-I.

Presently, UNCTAD has become a permanent organisation for promoting international trade with its head quarter at Geneva (Switzerland), Mr. Allec Irwin is its present Chairman. Generally, UNCTAD has its session after four years. IMF has got the permanent representation in all its bodies. This is reason why IMF includes all UNCTAD proposals in its policies. UNCTAD recommendations are only suggestions and no country can be compelled to accept them.

The details of various UNCTAD are as follows:

UNCTAD I	Cairo	Mar 31 – June 16, 1964
UNCTAD II	New Delhi	Feb – March 1968
UNCTAD III	Santiago (Chile)	April – May 1972
UNCTAD IV	Nairobi (Africa)	May 1976
UNCTAD V	Manila (Philippines)	May 7 – June 2, 1979
UNCTAD VI	Belgrade (Yugoslavia)	June 6 – July 3, 1983
UNCTAD VII	Geneva (Switzerland)	1987
UNCTAD VIII	Cartegina DE Indias (Columbia)	1992
UNCTAD IX	Midrand (Africa)	April 27 – May 11, 1996
UNCTAD X	Bangkok (Thailand)	Feb 12 – Feb 19, 2000
UNCTAD XI	Sao-Paulo (Brazil)	June 13 – June 18, 2004
UNCTAD XII	Accra (Ghana)	April 20 – April 25, 2008

Objectives of UNCTAD

1. To promote international trade specially with the view to accelerating the economic development of underdeveloped countries.
2. To determine policies and principles for international trade and economic development.
3. To propose the strategy for implementing pre-approved principles and policies.
4. To assist Economic and Social Council of the UNO.
5. To provide a suitable platform for trade dialogues.

Members of UNCTAD

Though UNCTAD is functioning as a permanent agency of the UNO, but its membership is fully optional. Any country may join or quit UNCTAD. 

The functioning of UNCTAD on democratic principles every member has only one voting right. For general disputes, simple majority among present members but two third majority is needed for important issues.