The Full Form of ‘ITC’ in Organisation is ‘International Trade Center’.
Full Form of ITC
ITC, or International Trade Center, is a global organization that specializes in promoting international trade and investment. ITC was founded in 1964 as part of the United Nations Conference on Trade and Development (UNCTAD) and is headquartered in Geneva, Switzerland.
ITC’s mission is to help developing countries improve their economies through increased exports and foreign direct investment. The organization provides businesses with technical assistance in areas such as marketing, product development, standards-compliance, market access strategies, and finance. Additionally, ITC serves as an advocate for developing countries by facilitating negotiations at the World Trade Organization (WTO) and other international forums.
One of ITC’s key initiatives is its Market Access Map, which provides detailed information about tariff barriers to trade for more than 180 countries around the world. This helps exporters from these countries identify potential markets for their goods or services based on data about the tariff costs associated with exporting to each country. ITC also offers a range of other services such as market research reports on different sectors and business consultancy services.
In addition to its work with businesses, ITC is also involved in advocacy efforts to ensure that developing countries are given a fair say in international trade negotiations. This includes advocating for lower tariffs on imports from developing countries to facilitate increased market access; pushing for greater consideration of environmental issues when negotiating trade agreements; and lobbying for fairer rules concerning intellectual property rights that protect producers in developing countries while still allowing them access to technology needed for economic growth.
The full form of ITC is “International Trade Center” and it plays a vital role in helping businesses from all over the world gain access to global markets. It provides businesses with technical assistance, market research reports, finance options, advocacy support during WTO negotiations, and more – all aimed at facilitating increased international trade opportunities for companies from developing nations. Ultimately this helps promote economic growth worldwide by providing new export opportunities for companies from these nations who may not otherwise have had access to global markets due to high tariffs or other unfair trade practices.
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