High Time to Look Seriously at Commodities
The new Global Initiative on Commodities
In an effort to take commodities from a long period of virtual oblivion to the centre of poverty reduction strategies, a “Global Initiative on Commodities” is being taken that brings together governments, NGOs and private sector representatives at a conference in Brasilia from 7 to 11 May. The initiative is spearheaded by the Common Fund for Commodities (CFC), the United Nations Conference on Trade and Development (UNCTAD), the United Nations Development Programme (UNDP) and the African, Caribbean and Pacific Group of States (ACP Group). WDEV reports.
Out of 144 developing countries 86 depend on commodities for more than half of their export earnings. Half of the total export income of 38 countries derives from a single commodity, while another 48 countries depend on only two commodities. New opportunities – but also new challenges – opened up for developing countries with the rapidly increasing demand witnessed in recent years for oil, other minerals and agricultural products ...
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Posted: 8 May 2007
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