Origin and Development
The United Nations Conference on Trade and Development (UNCTAD) was established in 1964 as an organ of United Nations Organisation, following the protest called by developing countries requesting the United Nations to convene a meeting to discuss the worsening economic situation of developing countries against the rich nations of the world. The conference which is held every four years is of great importance to African countries.
The first meeting was held in Geneva, Switzerland in 1964, the second in New Delhi, India in 1968, the third in Santiago, Chile in 1972, the fourth in 1976. Many other conferences have been held since then.