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Consider the following statements regarding, United Nations Conference on Trade and Development (UNCTAD) : (a) It is a permanent intergovernmental body established by the United Nations General Assembly in 1964. (b) It is a part of the UN General Assembly and also a part of the World Trade Organisation. (c) It is headquartered in Washington D.C. (d) In 2017, UNCTAD and the government of Vietnam signed a memorandum of understanding on debt and development finance strategies. Which of the above statements are correct?

Consider the following statements regarding, United Nations Conference on Trade and Development (UNCTAD) : (a) It is a permanent intergovernmental body established by the United Nations General Assembly in 1964. (b) It is a part of the UN General Assembly and also a part of the World Trade Organisation. (c) It is headquartered in Washington D.C. (d) In 2017, UNCTAD and the government of Vietnam signed a memorandum of understanding on debt and development finance strategies. Which of the above statements are correct? Correct Answer (a) and (d)

The correct answer is (a) and (d).

Key Points

United Nations Conference on Trade and Development

  • UNCTAD is a permanent intergovernmental body established by the United Nations General Assembly in 1964. Hence statement a is correct.
  • Its headquarters are located in Geneva, Switzerland, and it has offices in New York and Addis Ababa. Hence statement c is not correct.
  • UNCTAD is part of the UN Secretariat. Hence statement b is not correct.
  • It reports to the UN General Assembly and the Economic and Social Council but has its own membership, leadership, and budget.
  • It is also part of the United Nations Development Group.
  • The organization's goals are to: "maximize the trade, investment and development opportunities of developing countries and assist them in their efforts to integrate into the world economy on an equitable basis".
  • The primary objective of UNCTAD is to formulate policies relating to all aspects of development including trade, aid, transport, finance and technology.
  • UNCTAD and the Government of Vietnam signed a Memorandum of Understanding (MoU) on debt and development finance strategies. Hence statement d is correct.​
    • Signed on the sidelines of the Trade and Development Board session, the MoU will serve as the basis for future cooperation in support of Vietnam's development agenda and promote the achievement of the Sustainable Development Goals (SDGs).
    • The Vietnamese government lauded UNCTAD for its capacity-building support in the development of the rule-based, transparent, inclusive international trading system and the ongoing cooperation.

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