International Trade Center Flashcards

1
Q

What is the International Trade Center (ITC) ?

A

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

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2
Q

When was it established ?

A

1964

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3
Q

Who are the members of ITC?

A

The ITC does not have its own individual members, its members are the members of WTO of UNCTAD

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4
Q

How is ITC organized?

A

The activities and guidelines of the ITC is made by the General Council of WTO and the Trade and Development Board of UNCTAD

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5
Q

What is the ITC mission?

A

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”

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6
Q

What is the goals of ITC?

A

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

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7
Q

How is the ITC working to achieve its goals?

A

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

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8
Q

Where does ITC prioritize projects?

A

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

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9
Q

How are ITC financed?

A

ITC activities are financed by equal contributions from UNCTAD and WTO to the regular budget.

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