Abstract

The United Nations Conference on Trade and Development (UNCTAD) was formed in 1964 to ‘create a forum in which the more prosperous member countries [of the United Nations] would come under pressure to agree to measures benefiting the less-developed countries’. More specifically, its formation was ‘a deliberate effort to use international bureaucracy and conference diplomacy to alter current norms affecting trade and development’. UNCTAD's founding reflected the growth in membership of the United Nations of newly independent states. A large number of the e´lites of these new entities keenly felt the iniquity of the world order which had ushered in their formal statehood. UNCTAD and the later call for a ‘New International Economic Order’ (NIEO) therefore were rejoinders to problems encountered by developing countries as a result of the creation and operation of the Bretton Woods system.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.