UNCTAD16 Global commodities forum

Your Excellency, Mr. Julien Paluku Kahongya, Minister of External Trade of the Democratic Republic of the Congo,

Your Excellency, Ms. Julia Imene-Chanduru, Permanent Representative of Namibia to the UN in Geneva,

Dear Mr. Djatmiko Bris Witjaksono, Director General for International Trade Negotiation of the Ministry of Trade of Indonesia,

Your Excellency, Ms. Francisca Tatchouop Belobe, Commissioner for Economic Development, Trade, Tourism, Industry, and Minerals of the African Union Commission,

Dear guests,

Welcome to the Global Commodities Forum.

The focus of this forum is on those resources that now stand at the heart of international economic policy and climate diplomacy: Critical energy transition minerals - or CETMs.

These minerals underpin the energy and digital transitions that define our time.

Minerals and metals such as lithium, copper, cobalt, and nickel are no longer just commodities; they are strategic assets reshaping global markets. As the world accelerates its transition to cleaner and smarter technologies - from solar panels and electric vehicles to wind turbines and battery storage – critical minerals are becoming the backbone of a new industrial era.

According to recent forecasts, demand for these minerals could triple by 2030 and quadruple by 2040 if we are to meet global net-zero commitments. These are not just projections. They are a stark reminder of the scale and urgency of the transformation ahead of us.

For developing countries - many of which hold the lion’s share of global reserves - this represents a moment of immense opportunity.

Rising global demand opens new possibilities, but it also brings economic, political, and environmental challenges—for both producing and consuming nations.

The question before us today is therefore not only economic, but transformative and deeply political, and central to shaping a more sustainable and equitable future.

If history is a guide, we know that commodity wealth can be a double-edged sword. To this day, about two thirds of developing countries are  commodity-dependent, relying on raw material exports for at least 60 per cent of their export revenues. In least developed countries, that number is even higher, above 80 per cent.

Too often, mineral-rich nations have seen their wealth leave their shores unprocessed, missing the chance to add value, generate decent jobs, spur innovation, and build resilient economies. In many of these nations, over 70 per cent of exports consist of unprocessed raw materials, while processed products represent only a small fraction of total trade.

At the same time, global supply chains for critical minerals remain highly concentrated and fragile. For several key minerals, refining and processing capacity remain concentrated in just a few countries.

This reality underscores the strategic importance to national interest, but also the inherent vulnerability of such concentrated supply chains.

The extraction, transformation, and governance of critical minerals have become matters of global concern—not only among governments and industries, but also across the United Nations system.

A resilient future demands not just responsible extraction, but also equitable value creation, fair risk-sharing, and inclusive governance.

Excellencies,

UNCTAD is uniquely positioned at the intersection of global debates on the clean energy and digital transitions.

Our work on critical energy transition minerals seeks to ensure that this global shift becomes a genuine development opportunity for resource-rich developing countries - not a new form of dependency.

We have reshaped the narrative, with focusing on how countries can capture more value, diversify and transform their economies.

Our approach emphasizes local value addition, productive capacity-building, and fairer integration into global supply chains.  By aligning mineral development with national development priorities, expanding policy space, facilitating technology access, and mobilizing investment for value addition and industrial development, we can unlock better outcomes for developing countries. Strengthening regional processing capacities will also reduce supply chain overconcentration.

These issues are being discussed at the highest levels in international fora. Last year, the UN Secretary-General established a Panel on Critical Energy Transition Minerals, which articulated guiding principles and actionable recommendations to embed equity and justice in the race to net-zero emissions. UNCTAD, together with the Climate Action Team of the Secretary-General’s Executive Office and UNEP, proudly co-led the Secretariat of this important initiative.

Building on this momentum, the United Nations has now established a dedicated Task Force on Critical Energy Transition Minerals to coordinate system-wide support for the implementation of the Panel’s recommendations. UNCTAD is a core member and co-chair of this Task Force, alongside UNEP and UNDP. We will lead the technical clusters on value addition, benefit sharing and diversification; and on traceability, transparency and global markets.

And we are moving from principles to practice.

Through a project in Southern Africa, funded by the Government of Japan, UNCTAD is working closely with national stakeholders to identify diversification pathways—both within and beyond the mineral value chain. We want to offer country-specific, actionable policy recommendations to help countries strengthen domestic capabilities, deepen their integration into global value chains, and harness their mineral wealth.

Excellencies, ladies and gentlemen,

Let us seize the moment to forge enabling policy frameworks and practical partnerships that turn principles into progress. Together, we can drive a global energy transition that is not only cleaner but also more inclusive and equitable. And in doing so, we can turn this historic moment into a true opportunity for resource-rich developing countries to thrive.

Thank you.