UNCTAD is the focal point within the United Nations Secretariat for matters related to foreign direct investment (FDI). It seeks to improve the understanding of developing countries and economies in transition of policy choices; strengthen their abilities to formulate and implement policies, measures and action programmes; and promote understanding of emerging issues, including the role of international arrangements for the purpose of attracting and benefiting from foreign direct investment (FDI). UNCTAD also hosts the secretariat of the World Association of Investment Promotion Agencies (WAIPA).