News

By Rachid Bouhia, Economist, UNCTAD, and Emily Wilkinson, Researcher, ODI

The European Union has approved additional funds for a project supporting the African nation’s quest to diversify exports and reduce its dependency on oil for economic growth.

New funding will boost efforts to help developing countries better manage soaring debt levels and the resulting economic vulnerability, particularly in the aftermath of the coronavirus pandemic.

Guidelines to help governments, companies and consumers benefit from sustainable trade in precious plants and animals now include elements such as climate resilience and marine biodiversity.

The government sees honey as a product that could help diversify the country’s oil-dependent economy and is working with UNCTAD and the European Union to improve production and boost exports.

A new call to action urges countries to make BioTrade a lever for recovery and resilience in the wake of the pandemic.

The project is a point of convergence for conservation and sustainable use of marine resources, and a driver for a blue and green recovery from COVID-19.

Written by Dona Bertarelli, UNCTAD Special Adviser for the Blue Economy

While it is the fastest growing economy in Latin America, the Dominican Republic’s economy is still not diversified enough, a joint report shows, highlighting what needs to be done.

An UNCTAD study highlights opportunities for Bhutan, Kazakhstan, Mongolia and Turkmenistan to diversify their exports and transform their commodity-driven economies.