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United Nations Conference on Trade and Development (UNCTAD)


A United Nations organization, established in 1964, which is intended to represent the less developed countries (LDCs), and which acts as a pressure group for increased aid and an international regime for trade and investment more favourable to LDCs. Proposals for a New International Economic Order (NIEO) came from UNCTAD.

Reference: Oxford Press Dictonary of Economics, 5th edt.