P166 short courses on key international economic and development issues for Geneva-based delegates

Commodity dependence and impacts of recent events on commodity markets

Commodity dependence is associated with a range of risks and vulnerabilities that threaten the achievement of the Sustainable Development Goals. Shocks to the global economy due to the pandemic and the war in Ukraine caused volatility and disruptions in international commodity markets and are a reminder of the importance of building resilient economies.

Price volatility, sudden price hikes and supply chain uncertainties with regard to basic commodities such as food, fuels and fertilizers also pose major challenges for net importers of these commodities, particularly if imports are concentrated in a narrow range of supplying markets and account for a large share of domestic availability. Furthermore, the global energy transition required to address climate change will have profound impacts on future commodity demand patterns and thereby on the growth and development prospects of commodity-dependent economies.

The objectives of the course are as follows:

• Provide an overview of the impacts of the pandemic and the war in Ukraine on global commodity markets
• Show the risks and challenges associated with commodity dependence in the context of the 2030 Agenda for Sustainable Development
• Highlight the importance of economic diversification and value upgrading for commodity-dependent developing countries

The aim of the courses is to give delegates from permanent missions an opportunity to become better acquainted with topical issues and developments in the international economic agenda as they are reflected in the work of UNCTAD.

The secretariat invites permanent missions to nominate delegates who follow matters pertaining to UNCTAD and/or the World Trade Organization to attend these courses.