Formation of UNCTAD -

 In the early 1960s, growing concerns about the place of developing

countries in international trade led many of these countries to call for the
convening of a full-fledged conference specifically devoted to tackling
these problems and identifying appropriate international actions. 

 The first United Nations Conference on Trade and Development

(UNCTAD) was held in Geneva in 1964.
Given the magnitude of the problems at stake and the need to address
them, the conference was institutionalized to meet every four years, with
intergovernmental bodies meeting between sessions and a permanent
secretariat providing the necessary substantive and logistical support. 

 Simultaneously, the developing countries established the Group of 77 to

voice their concerns. (Today, the G77 has 131 members.) 

 The prominent Argentinian economist Raúl Prebisch, who had headed the

United Nations Economic Commission for Latin America and the
Caribbean, became the organization's first Secretary-General

Phase1: 1960s and 1970s

 In its early decades of operation, UNCTAD gained authoritative standing:

o as an intergovernmental forum for North-South dialogue and
negotiations on issues of interest to developing countries,
including debates on the "New International Economic Order".
o for its analytical research and policy advice on development
issues.
 Agreements launched by UNCTAD during this time include:
o the Generalized System of Preferences (1968), whereby
developed economies grant improved market access to exports
from developing countries.
 o a number of International Commodities Agreements, which
aimed at stabilizing the prices of export products crucial for
developing countries.
o the Convention on a Code of Conduct for Liner Conferences,
which strengthened the ability of developing countries to maintain
national merchant fleets.
o the adoption of a Set of Multilaterally Agreed Equitable Principles
and Rules for the Control of Restrictive Business Practices. This
work later evolved into what is today known as "Trade and
Competition Policies".

 Furthermore, UNCTAD was a key contributor to:

o the definition of the target of 0.7% of gross domestic product
(GDP) to be given as official development aid by developed
countries to the poorest countries, as adopted by the United Nations
General Assembly in 1970.
o the identification of the Group of Least Developed Countries
(LDCs) as early as 1971, which drew attention to the particular
needs of these poorest countries. UNCTAD became the focal point
within the UN system for tackling LDC-related economic
development issues.

The 1980s

 In the 1980s, UNCTAD was faced with a changing economic and

political environment:
o There was a significant transformation in economic thinking.
Development strategies became more market-oriented, focusing on
trade liberalization and privatization of state enterprises.
o A number of developing countries were plunged into severe debt
crises. Despite structural adjustment programs by the World Bank
and the International Monetary Fund, most developing countries
affected were not able to recover quickly. In many cases, they
experienced negative growth and high rates of inflation. For this
reason, the 1980s become known as the "lost decade", particularly
in Latin America.
 o Economic interdependence in the world increased greatly.
 In the light of these developments, UNCTAD multiplied efforts aimed at:
o strengthening the analytical content of its intergovernmental
debate, particularly regarding macroeconomic management and
international financial and monetary issues.
o broadening the scope of its activities to assist developing countries
in their efforts to integrate into the world trading system. In this
context,
 the technical assistance provided by UNCTAD to
developing countries was particularly important in the
Uruguay Round of trade negotiations, which had begun
under the General Agreement on Tariffs and Trade (GATT)
in 1986. UNCTAD played a key role in supporting the
negotiations for the General Agreement on Trade in Services
(GATS).
 UNCTAD's work on trade efficiency (customs facilitation,
multimodal transport) made an important contribution to
enabling developing economies to reap greater gains from
trade.
 UNCTAD assisted developing countries in the rescheduling
of official debt in the Paris Club negotiations.
o promoting South-South cooperation. In 1989, the Agreement on
the Global System of Trade Preferences among Developing
Countries (GSTP) came into force. It provided for the granting of
tariff as well as non-tariff preferences among its members. To date,
the Agreement has been ratified by 44 countries.
o addressing the concerns of the poorest nations by organizing
the first UN Conference on Least Developed Countries in 1981.
Since then, two other international conferences have been held at
10-year intervals.

From the 1990s until today

 Key developments in the international context:

o The conclusion of the Uruguay Round of trade negotiations under
the GATT resulted in the establishment of the World Trade
 Organizationin 1995, which led to a strengthening of the legal
framework governing international trade.
o A spectacular increase in international financial flows led to
increasing financial instability and volatility.
o Against this background, UNCTAD's analysis gave early warning
concerning the risks and the destructive impact of financial
crises on development. Consequently, UNCTAD emphasized the
need for a more development-oriented "international financial
architecture".
o Foreign direct investment flows became a major component of
globalization.
o UNCTAD highlighted the need for a differentiated approach to the
problems of developing countries. Its tenth conference, held in
Bangkok in February 2000, adopted a political declaration – "The
Spirit of Bangkok" – as a strategy to address the development
agenda in a globalizing world.

 In recent years, UNCTAD has

o further focused its analytical research on the linkages between

trade, investment, technology and enterprise development.
o put forward a "positive agenda" for developing countries in
international trade negotiations, designed to assist developing
countries in better understanding the complexity of the multilateral
trade negotiations and in formulating their positions.
o Expanded work on international investment issues, following the
merger into UNCTAD of the New York–based United Nations
Centre on Transnational Corporations in 1993.
o expanded and diversified its technical assistance, which today
covers a wide range of areas, including training trade negotiators
and addressing trade-related issues; debt management, investment
policy reviews and the promotion of entrepreneurship;
commodities; competition law and policy; and trade and
environment.
Functions-

1. Providing a forum for intergovernmental deliberations

2. Undertaking research, policy analysis and data collection to inform these
deliberations
3. Providing technical assistance to developing countries

Also you can check the official website for more information-
https://unctad.org/en/Pages/DITC/CompetitionLaw/ccpb-Mandate.aspx

Basic Principles of UNCTAD

UNCTAD action programme and priorities have been laid down in the various
recommendations adopted by the first conference in 1964. These
recommendations are based on the following basic principles:

(a) Every country has the sovereign right to freely dispose its natural resources
in the interest of the economic development and well being of its own people
and freely to trade with other countries.
(b) Economic relations between countries, including trade relations, shall be
based on respect for the principles of sovereign equality of states, self-
determination of people, and non-interference in the internal affairs of other
countries, and
(c) There shall be no discrimination on the basis of differences in socio-
economic systems, and the adoption of various methods and trading policies
shall be consistent with this principle.

 The Trade and Development Board have four subsidiary organs to

assist it in its functions. These are:

1. The Committee on Commodities.

2. The Committee on Manufacturers.
3. The Committee on Shipping.
4. The Committee on Invisible Items and Financing related to Trade.

Generally, these committees meet annually. However, they may be called in

special session to consider urgent matters.