Cold War, Trade War: The Soviet Union, the EEC, and UNCTAD’s battle for free trade
In 1964, the United Nations Conference on Trade and Development (UNCTAD) was born with an ambitious objective: convincing UN member states to lower or remove all barriers to the free circulation of goods and commodities worldwide. According to the liberal convictions of UNCTAD founders, free trade was the best tool to boost development in Africa, Asia, and Latin America and reduce the inequality gap with the “Global North”. The Soviet Union and most of the socialist world jumped on the UNCTAD bandwagon immediately.