Context:
United Nations Conference on Trade and Development (UNCTAD) rebranded as UN Trade and Development
UNCTAD:
- Permanent intergovernmental body by the United Nations General Assembly
- Established in – 1964
- Mandate – Helping countries to
- Comprehend options to address macro-level development challenges
- Diversify economies to make them less dependent on commodities
- Limit their exposure to financial volatility, etc.
- Members – 195 nations (including India)
- Headquarters – Geneva, Switzerland
- Activities are advisory by nature.
- Structure –
- UNCTAD Conference – Highest policy-making body of UNCTAD which meets once every 4 years
- Trade and Development Board – UNCTAD’s executive body which is responsible for the operations of the organization when the Conference is not in session.
- UNCTAD Secretariat – Performs policy analysis, monitors and implements the decisions of UNCTAD’s intergovernmental bodies, and provides for technical cooperation.
- Key Reports – Trade & Development Report, World Investment Report & Least Developed Countries Report
Source: UNCTAD
Previous Year Question
Consider the following statements:
1. The value of Indo-Sri Lanka trade has consistently increased in the last decade.
2. “Textile and textile articles” constitute an important item of the trade between India and Bangladesh.
3. In the last five years, Nepal has been the largest trading partner of India in South Asia.
Which of the statements given above is/are correct?
[UPSC Civil Service Exam – 2020 Prelims]
(a) 1 and 2 only
(b) 2 only
(c) 3 only
(d) 1, 2 and 3
Answer: (b)
Explanation:
Statement 1 is not correct. The value of India-Sri Lanka trade has not considerably increased in the last decade. It registered a downfall post 2014-15.
Statement 3 is not correct. In South Asia, Bangladesh has been India’s largest trading partner.
