UNIDO & CUTS signs agreement to counter economic impact of COVID-19

United Nations Industrial Development Organization (UNIDO) and the Consumer Unity and Trust Society (CUTS) to empower consumers to contribute to the global development agenda as well as support their respective governments in times of global crisis due to coronavirus.

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The objective of the MOU:

  • The MoU is valid for 5 years and the aim is to create joint technical co-operation initiatives to support ongoing activities in achieving the 2030 Sustainable Development Goal (SDG).
  • As per the MoU, CUTS will support e-commerce as a platform to accelerate Member States’ transition to the digital economy and adapt to the 4th Industrial Revolution.

What is CUTS?

Consumer Unity and Trust Society (CUTS) is an India-based institution and established in 1983, working to realize “consumer sovereignty within the framework of social justice, economic equality and environmental balance within and across borders”. The main engagement areas of CUTS are promoting rules-based trade, good governance and effective regulations.

Important takeaways for all competitive exams:

  • UNIDO Headquarters: Vienna, Austria.
  • UNIDO Director General– LI Yong
  • Consumer Unity and Trust Society (CUTS) Headquarters: Jaipur, Rajasthan.
  • Consumer Unity and Trust Society (CUTS) Secretary General: Pradeep S. Mehta.

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