Globalization, including a phenomenal expansion of trade, has helped lift millions out of poverty. But not nearly enough people have benefited. And tremendous challenges remain.
UNCTAD supports developing countries to access the benefits of a globalized economy more fairly and effectively. And UNCTAD helps equip them to deal with the potential drawbacks of greater economic integration. To do this, they provide analysis, consensus-building, and technical assistance. This helps them to use trade, investment, finance, and technology as vehicles for inclusive and sustainable development.
Working at the national, regional, and global level, efforts help countries to:
Diversify economies to make them less dependent on commodities
Limit their exposure to financial volatility and debt
Attract investment and make it more development friendly
Increase access to digital technologies
Promote entrepreneurship and innovation
Help local firms move up value chains
Speed up the flow of goods across borders
Protect consumers from abuse
Curb regulations that stifle competition
Adapt to climate change and use natural resources more effectively
Together with other UN departments and agencies, they measure progress by the Sustainable Development Goals, as set out in Agenda 2030.
UNCTAD also supports implementation of Financing for Development, as mandated by the global community in the 2015 Addis Ababa Agenda, together with four other major institutional stakeholders: the World Bank, the International Monetary Fund, the World Trade Organization, and the United Nations Development Programme.
While they work mainly with governments, to effectively deal with the magnitude and complexity of meeting the Sustainable Development Goals, UNCTAD believes that partnerships and closer cooperation with the private sector and civil society are essential.
Ultimately, they are serving the citizens of the 194 countries that make up the organization. UNCTAD’s goal is prosperity for all.