A subsidiary organ of the United Nations General Assembly that seeks to focus international attention on economic measures that might accelerate Third World development. The first conference, UNCTAD-I, was convened in Geneva in 1964, and sessions were held quadrennially up to 1976: UNCTAD-II, New Delhi, 1968; UNCTAD-III, Santiago, 1972; and UNCTAD-IV, Nairobi, 1976. UNCTAD-V met in Manila in 1979, UNCTAD-VI in Belgrade in 1983, UNCTAD-VII in Geneva in 1987, and UNCTAD VIII in Cartagena, Colombia in 1992. The UNCTAD Trade and Development Board, which exercises the powers of the conference between its sessions, meets twice a year; and the main UNCTAD committees--which include those concerned with commodities, shipping, manufactures, invisibles and financing related to trade, and the transfer of technology--meet several times between sessions of the conference. Negotiations in UNCTAD take place principally between "Group B" (developed countries) and the "Group of 77" (developing countries) which separately determine their own positions through intra-group discussions prior to the negotiations. UNCTAD is supported by a permanent secretariat based in Geneva. UNCTAD has been an executing agency for UNDP technical assistance projects since 1968, and now administers such projects as ports management, regional economic integration, the transfer of technology, the improvement of customs procedures and other fields related to its programs and activities.
See also: Common Fund, Economic Cooperation Among Developing Countries, Generalized System of Preferences, Group B, Group D, Group of 77, Integrated Program for Commodities, International Trade Center UNCTAD/GATT, Restrictive Business Practices, United Nations Development Program,

This definition is in context to Customs. See more contextual defintions for United Nations Conference On Trade And Development (UNCTAD).