ABSTRACT
The secretariat of the United Nations Conference on Trade and Development (UNCTAD) was founded in 1964, for the purpose of introducing into the discussions and negotiations on international trade issues considerations on the growth prospects of developing countries. The arguments put forward by developing countries, and in particular Raul Prebisch, the first Secretary-General of UNCTAD, stressed economic conditions and political power relationships, which were understood as making trade less favourable for developing countries than for developed countries. The general attitude of UNCTAD towards trade liberalization has been very much along the lines of thinking. In a way, the UNCTAD approach came even closer to mercantilism by insisting that developing countries should not be obliged to reciprocate with concessions of their own, allowing them to maintain or even increase the level of protection of their industries, while trade barriers abroad were being reduced.
