Context: UNCTAD, the United Nations Conference on Trade and Development, has undergone a significant rebranding as “UN Trade and Development” to mark its 60th anniversary.

• This strategic move reflects its commitment to enhancing its impact and amplifying its voice on behalf of developing countries.

• The rebranding initiative includes a new visual identity aimed at better reflecting the organization’s work and values.

• The organization will adopt its new name and logo across all official channels in the six UN languages.

About UNCTAD (United Nations Conference on Trade and Development)

• The UNCTAD, short for United Nations Conference on Trade and Development, was established in 1964. It was set up as a permanent intergovernmental body by the United Nations General Assembly.

• Its main goal is to assist developing countries, especially those that are least developed or transitioning, to effectively integrate into the global economy.

Membership

• UNCTAD has 195 member nations, including India.

Headquarters

• The headquarters of UNCTAD are in Geneva, Switzerland.

Missions of UNCTAD

• UNCTAD helps countries explore options to tackle large-scale development challenges.

• It supports efforts to diversify economies and reduce reliance on commodities.

• The organization aims to limit exposure to financial volatility.

• UNCTAD promotes a global partnership for development and seeks to improve coherence in global economic policymaking.

• It ensures that all countries reap the benefits of development gains linked to trade.

Objectives of UNCTAD

• Diversify economic activities to minimize dependence on commodities.

• Promote global partnerships and coherence in economic policy-making.

• Ensure that all countries benefit from trade-related development gains.

Structure of UNCTAD

• The highest policy-making body of UNCTAD is the Conference, which meets every four years to establish policies and create work programs.

Functions of UNCTAD

• The Trade and Development Board acts as the executive body, managing operations when the Conference is not in session.

• The UNCTAD Secretariat, a part of the UN Secretariat, carries out policy analysis, monitors and implements decisions, and facilitates technical cooperation and information exchanges.

Key Activities of UNCTAD

• UNCTAD conducts economic and trade analysis and facilitates consensus-building.

• It offers technical assistance to make use of trade, investment, finance, and technology for inclusive and sustainable development.

Reports published by UNCTAD

1. Trade and Development Report

2. World Investment Report

3. The Least Developed Countries Report