International Trade Center Flashcards
What is the International Trade Center (ITC) ?
Development agency that is fully dedicated to support internationalization of small and medium sized enterprises (SMEs)
It is a joint agency of the World Trade Organization and the UN
When was it established ?
1964
Who are the members of ITC?
The ITC does not have its own individual members, its members are the members of WTO of UNCTAD
How is ITC organized?
The activities and guidelines of the ITC is made by the General Council of WTO and the Trade and Development Board of UNCTAD
What is the ITC mission?
ITC’s mission is to foster inclusive and sustainable economic development and contribute to achieving the UN global goals for sustainable development. It works towards creating “trade impact for good”
What is the goals of ITC?
To strengthen the integration of the business sector of developing countries
Improve the performance of trade and investment support institutions for the benefits of SMEs
Improve the international competitiveness of SMEs
How is the ITC working to achieve its goals?
Bringing enterprises closer to markets
Facilitating efforts to expand trade between neighbouring countries
Improving the skills of business owners in the field of trade intelligence
Where does ITC prioritize projects?
ITC prioritizes project implementation in Sub-Saharan Africa, small and vulnerable economies (SVEs), as well as post conflict and fragile states. ITC has committed to spending at least 80% of its country-level assistance in these priority countries
How are ITC financed?
ITC activities are financed by equal contributions from UNCTAD and WTO to the regular budget.
