This project addresses the concern of international commodity policy makers about the roots of international consensus on commodities, based on the Integrated Programme for Commodities adopted in 1970-s which have not been fully re-examined since then. As the matter of relationship between commodities and development had never been fully addressed in a holistic manner since that time, current discussions on international measures in commodity markets are limited in scope, which has impact on the effectiveness of international cooperation in commodity driven development.
The project is driven by the UN resolution on commodities adopted in November 2011, and accompanying resolution on commodity market volatility which called on the CFC to facilitate cooperation between international agencies and to organize a High Level Thematic Debate (HLTD) on commodity market volatility which would report to the UN General Assembly. The goal of the project is, therefore, to enable informed debate and to facilitate proper input to the deliberations of the UN. The conclusions of this debate will have direct implications on the discussions on the future role and mandate of the CFC.
The specific objectives of the project are as follows:
- to facilitate informed debate on the current understanding of development significance of commodity dependence;
- to recognize factors behind high volatility and risk relating to commodities; and
- to present areas for international consensus action in commodities.