HPAS/Allied Mains 2022 Answer Writing Challenge Day 231: Model Answer

Question: What are the Objectives of UNCTAD? (8 marks/ 120 words)

Answer:

The United Nations Conference on Trade and Development was established in 1964 as a permanent intergovernmental body. It is the part of the United Nations Secretariat dealing with trade, investment, and development issues. Currently, UNCTAD has 195 member states and headquartered in Geneva, Switzerland.

Objectives of UNCTAD

• Comprehend options to address macro-level development challenges
• Achieve beneficial integration into the international trading system
• Diversify economies to make them less dependent on commodities
• Limit their exposure to financial volatility and debt
• Attract investment and make it more development friendly
• Increase access to digital technologies
• Promote entrepreneurship and innovation
• Help local firms move up value chains
• Speed up the flow of goods across borders
• Protect consumers from abuse
• Curb regulations that stifle competition
• Adapt to climate change and use natural resources more effectively