20th Anniversary of UNCTAD (December 24, 1984)

The United Nations Conference on Trade and Development (UNCTAD) was established as an organ of the UN General Assembly in December, 1964 to formulate proposals and implement policies and measures for promoting expansion of international trade and economic development. All States which belong to the United Nations or its specialised agencies are its members. The Principal organs of UNCTAD include the Conference (held once in four years); Trade and develop-ment Board; the Secretariat located in Geneva and seven committees dealing with i) commodities; ii) manufactures; iii) shipping; iv) invisible and financing; v) economic co-operation among developing countries; vi) transfer of technology and vii) special committee of preferences. The developing countries played a very dynamic role in the creation of the UNCTAD, as they felt that the world prosperity was poorly shared, and there was an urgent need to establish a forum which could be used to help foster their growth and development.
UNCTAD has been active in bringing about conditions that would enable developing countries to increase their exports of manufactured and semi-manufactured goods and has made sustained efforts to promote international co-operation in trade and development. It has consistently highlighted the inter-dependence of the world and the inter-linkage of international economic issues. Specifically, UNCTAD has been instrumental in bringing about agreements and arrangements such as Integrated Programme for Commodities; Generalised System of Preferences (GSP) envisaging trade concession for products of developing countries; Convention on a Code of Conduct for liner Conferences; the Multi-model Transport Convention; the set of Multilaterally Agreed Equitable Principles and Rule for the Control of Restrictive Business Practices; Action Programme for Least Developed Countries; etc. UNCTAD is also serving as a forum for consideration, analysis and study of world economic issues with a view to finding their solutions. The development of developing countries remains the focal point of UNCTAD activities.
The 20th anniversary of UNCTAD which falls in December, 1984 provides an opportunity to highlight its role as an important factor in bringing about an equitable international division of labour in the framework of the New International Economic Order (NIEO). To celebrate this anniversary, Pakistan Post Office is issuing on December 24, 1984 a Commemorative postage stamp of the denomination of 60 paisa.