| There is no denying the fact that, as UNCTAD's | | | | possesses considerable expertise. Here the proposal |
| mandate has become multidimensional, so its | | | | is not to alter its earlier position, but to focus more |
| achievements have therefore been of different kinds. | | | | strongly on specific matters which are covered little if |
| The most significant achievements included. a) the | | | | at all by other organizations. In trade field UNCTAD |
| agreement on Generalized System of | | | | should give importance on consensus building. As |
| Preferences(GSP)1971; b) the setting up of the Global | | | | UNCTAD provides a universal forum for policy |
| System of Trade Preferences among developing | | | | analysis, so for consensus on trade policy issue it can |
| Countries(1989); c) negotiation of International | | | | help to prepare ground for later negotiations within |
| Commodity Agreements; d) the establishment of | | | | WTO. UNCTAD and WTO should co-operate with |
| transparent market mechanisms in the form of | | | | each other in the field of international trade. It is |
| intergovernmental commodity expert and study | | | | encouraging that two organization has already started |
| groups, involving consumers and producers; e) the | | | | their co-operation. In their joint meeting held in 8th |
| negotiation of the Common Fund for | | | | Oct. 1996 WTO Director General said "the |
| Commodities(1989); f) the adoption of the resolution | | | | convergence between WTO and UNCTAD was |
| on the retroactive adjustment of terms of Official | | | | evidenced in regular meetings between the heads of |
| Development Assistance debt of low-income | | | | the two organizations, joint research projects, |
| developing countries; g) the establishment of | | | | co-ordinated technical assistance and generally a |
| guidelines for international action in the area of debt | | | | more intense working relationship at all levels of the |
| rescheduling(1980); h) the Programme of Action for | | | | organizations." As the main functions of WTO are the |
| Least Developed Countries for the 1990s and I) the | | | | implementation and negotiation of contractual trading |
| negotiation of convention in the area of maritime | | | | rules and discipline, there is considerable scope for |
| transport. In addition to above UNCTAD made some | | | | complementarity between WTO and UNCTAD.The |
| contributions on matters for implementation in other | | | | policy analysis and consensus building functions of |
| forums. For example, it has contribution in the | | | | UNCTAD can make essential contribution to the |
| improvement of the Implementation compensatory | | | | intergovernmental consideration of trade issues to |
| facility for export earnings shortfalls of developing | | | | the point where they can be fruitfully negotiated in |
| countries; the creation of the Special Drawing Rights | | | | WTO.d) In post cold war economic environment, the |
| by IMF; the reduction of commercial bank debt for | | | | need for collective action by the Third World |
| the highly indebted countries promoted by the World | | | | countries to meet the evolving challenges is more |
| Bank. UNCTAD had also some contribution in the area | | | | important than ever. UNCTAD is the only body in the |
| of code of conduct for the transfer of technology, | | | | UN which has some scope to deal with global |
| computerized systems in the area of customs and | | | | economic issues from a development perspective. |
| debt management. | | | | UNCTAD should be equipped for that purpose.e) |
| Although for many limitations as I mentioned earlier | | | | UNCTAD's monitoring and analytical capacities should |
| UNCTAD could not fulfil all expectations but it has | | | | be increased sufficiently.f) Its efficiency in the area |
| tried and still trying with its limited resources to do its | | | | of foreign investment, technology transfer, |
| work. For the cause of the developing countries the | | | | competition policy regarding Multinational Corporation |
| role of UNCTAD should be strengthen. To make it | | | | should be strengthening.g) UNCTAD should prepare |
| more dynamic and effective some measures should | | | | its answer for Third World country regarding |
| be taken like as follows:a) The Third World countries | | | | liberalization and regional groupings. |
| should minimize their differences and have to sacrifice | | | | Since it has been reorganized to make it more |
| their own interest for the sake of other developing | | | | efficient there is no need to dismantle it. Because it |
| countries. It will be easier for UNCTAD to work in a | | | | still serves a primary purpose to achieve international |
| co-operative atmosphere than of conflict.b) UNCTAD | | | | co-operation in solving international problems of an |
| should give emphasis those issues in which it | | | | economic nature. |