Q.What is UNCTAD, and why was it created specifically for developing countries?

Developing countries felt the existing trade framework of their era did not adequately represent their interests, leading to a dedicated UN body. …

UNCTAD (United Nations Conference on Trade and Development) was established in 1964 as a permanent body of the United Nations. It arose because many developing countries felt that the GATT framework of the time was shaped primarily around the trade concerns of industrialised economies, and did not adequately address issues central to developing economies — such as volatile commodity export prices, limited market access for developing-country manufactured goods, and the need for development-oriented trade preferences. …

Confusing UNCTAD (a UN-affiliated policy/advocacy forum) with the WTO (the actual rules-enforcing trade organisation) — UNCTAD does not itse …