UNITED NATIONS CONFERENCE ON TRADE & DEVELOPMENT (UNCTAD)

The United Nations Conference on Trade & Development was set up on 30th of Dec. 1964 and its headquarters are situated in Geneva, Switzerland. The UNCTAD is composed of 194 Member States and works with non-governmental organizations worldwide.

The UNCTAD is the United Nations’ focal point for trade and development, and for interrelated issues in the areas of finance, technology, investment and sustainable development. Its objective is to assist developing countries, especially the least developed countries, and countries with economies in transition, to integrate beneficially into the global economy. It also seeks to help the international community promote a global partnership for development, increase coherence in global economic policy making, and assure development gains for all from trade.

The UNCTAD aims at

• Expanding the capabilities of developing countries in the sphere of trade, investment and development.

• Assisting them in overcoming the difficulties arisen as a result of globalization

• Integrating on an equal footing into the world economy.

Objectives of UNCTAD in the sphere of competition are:

• Analysis and improvement of the international bases of the introduction of competition policy and law.

Harmonization of competition and trade policy,

• Convergence of the national norms of competition with the Set of multilaterally agreed equitable principles and rules relating to the Control of Restrictive Business Practices adopted by the UN Conference.