United Nations Conference on Trade and Development

Ian Taylor

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World Trade Organization Law International Development and Aid World Systems and Global Transformations

Abstract

Abstract The United Nations Conference on Trade and Development (UNCTAD) was formed in 1964 to generate an institutionalized forum where the developed nations of the United Nations would negotiate demands centered on measures aimed at benefiting the developing world. In short, it is a forum to significantly rework existing norms regarding trade and development. UNCTAD's founding reflected the growth in membership of newly independent states within the United Nations. A large number of the elites of these new entities keenly felt the iniquity of the world order upon which they had been launched. UNCTAD and the later call for a “New International Economic Order” (NIEO) therefore was a rejoinder to problems encountered by developing countries as a result of the creation and operation of the Bretton Woods institutions (BWIs).

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