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COMMON FUND FOR COMMODITIES
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A Parallel Interactive Thematic Session at the 2nd UN Conference on LLDCs

UNCTAD, CFC and UN-OHRLLS will lead a high-level dialogue on "Policies and strategies to turn commodity dependence into sustainable, inclusive and equitable economic growth and development for Landlocked Developing Countries" during the 2nd UN Conference on LLDCs which will be held in Vienna from 3 to 5 November 2014. This event will take place on 4 November (15:15 - 16:45) at Vienna International Centre, Room M7. 

 

Background

The commodities sector is crucial for the economic revival, growth and sustained development of landlocked countries (LLDCs). Resource-based goods (i.e. commodities and natural resource-based manufactures) are the principal export across nearly all of the LLDCs. Commodities account for some three-quarters of all exports from LLDCs in the past decade. While primary commodities comprise a large share of export from LLDCs it is with very little or no value-addition. Therefore commodity-based policies will need to be at the heart of any intergovernmental LLDC action plan, including in the context of the post-Almaty Programme of Action and the anticipated sustainable development goals.

Ensuring that the role of commodities is incorporated into national development strategies can increase the likelihood of LLDCs maximizing the potential gains from the sector.  A more holistic approach that incorporates a development perspective and that takes into account the role and functions of commodity sector in economic growth and poverty reduction will be required. Establishing regional commodity value chains (RVCs) could also be an important step to enhancing the ability to pool resources and capabilities across neighboring countries.  Hooking into RVCs can serve as stepping stone for LLDCs to join global commodities value chains. This, in turn, can lead to a shift towards more productive manufacturing activities leveraging resource base in neighboring countries and subsequently boosting the domestic value-addition of exports.

Discussion question

The High-level dialogue will provide opportunities to deliberate potential policies and strategies that could turn commodity dependence into sustainable, inclusive and equitable growth and development for LLDCs. It will specifically address the following questions:

  • What mix of policies and strategies are necessary to turn commodity dependence in LLDCs into sustainable, inclusive and equitable growth and development?
  • What specific measures are necessary to address socioeconomic vulnerability in LLDCs arising from their excessive dependence on commodities and volatile international commodity prices?
  • How can LLDCs foster industrialization and promote exports of manufactures based on their natural resources endowments to generate decent jobs?
  • How can LLDCs participate in the higher segments of commodity value chains, including through promoting investment inflows into the commodities sector?

PRESS RELEASE

2nd UN Conference on LLDCs

High-Level Dialogue:  Policies and Strategies to turn commodity dependence into sustainable, inclusive and equitable economic growth and development for Landlocked Developing Countries; Vienna - 4 November 2014

Thematic Session Discussion Note 4-11-2014

Policies & Strategies to turn commodity dependence into sustainable, inclusive & equitable economic growth & development for Landlocked Developing Countries;

A Parallel Interactive Thematic Session at the 2nd UN Conference on LLDCs organized by UNCTAD, CFC and UNOHRLLS