Without policy change, these countries risk falling short of achieving sustainable development by 2030, UN report warns

11 December 2017, Geneva/Rome

Without a renewed commitment to policy change, commodity-dependent developing countries (CDDCs) are by 2030 set to lag behind countries with more diverse economies in their social and economic achievements, UNCTAD and the Food and Agriculture Organization of the United Nations (FAO) said in a report issued today. 

The Commodities and Development Report 2017 argues this is a likely scenario given that global food and non-food commodity prices, with the exception of oil, are expected to remain at their 2010 levels. They may even increase slightly in the years leading to 2030 - the target date for the achievement of the Sustainable Development Goals (SDGs) agreed by the international community in 2015. However, the report notes that these global price patterns may diverge once broken down to the regional and national levels.

The 2003-2011 commodity price boom drove up export revenues and, generally, economic growth rates for many CDDCs, but this trend has either slowed down or has been reversed since global commodity prices stabilized at a lower level, the report notes. 

This in turn has brought to light the importance of investing in human capital and social protection as well as of redistributive policies, considering that strong overall economic growth alone does not necessarily translate into poverty reduction and food security achievements.

The report stresses the need for CDDCs to pursue structural transformation to improve their social and economic prospects, reduce poverty, realize food security and achieve the SDGs at large.

To support its policy recommendations, the report reviews policies pursued by several countries and their respective socio-economic impacts. The case studies cover such commodities in producing countries as soybeans in Argentina and Brazil, rice in Bangladesh, diamonds in Botswana and Sierra Leone, cotton in Burkina Faso, coffee and bananas in Costa Rica, cocoa in Ghana, nickel in Indonesia, sorghum in Mali, oil in Nigeria, and copper in Zambia.

According to the report, policies that can promote inclusive growth over the next 15 years include economic diversification, expanding the linkages between the commodity sector and the national economy, adopting countercyclical expenditure policies which build commodity revenue buffers during price upswings to use them during downswings, adding value to raw commodities, and investing in social protection, health and education. 

CDDCs will require more policy space in order to tailor the right policy mix to fit their economic conditions and circumstances and drive their sustainable economic development in an increasingly globalized world.

Ultimately, structural transformation should result in the successful implementation of the 2030 Agenda for Sustainable Development, of which the SDGs are the core, the report concludes.    

Source: FAO

Illustration Photo: Aerial view of Danang Port. The Port is the third largest port system in Viet Nam and lies at the eastern end of the GMS East–West Economic Corridor (EWEC), which connects Viet Nam with Lao PDR, Thailand, and Myanmar. (credits: Asian Development Bank / Flickr Creative Commons Attribution-NonCommercial 2.0 Generic (CC BY-NC 2.0))

Comments

No comments to display.

Related posts

EU's Call for Proposals: An empowering, inclusive Next Generation Internet

The objective is to support actions on smarter, open, trusted and personalised learning solutions to optimise digital learning and to allow learners to engage and interact with content and with peers.
Application Deadline in 5 months

Singapore to establish Additive Manufacturing Facility and Applications in Maritime Sector

The facility’s location also leverages PSA’s parts supplier base and facility operations to support just-in-time inventory. This move towards digitised inventories reduces the need to hold excess inventory, which lowers storage costs, while shortening turnaround time from weeks to days due to improved availability of spare parts. In the long run, PSA will expand the scope of these services to the wider maritime industry, including ship owners, to help build its business adjacencies.

EU's Call for Proposals: The AQUAEXCEL2020 twelfth call for access

The facilities available cover the entire range of production systems (cage, pond, recirculation, flowthrough, hatchery and disease challenge); environments (freshwater, marine, cold, temperate and warm water); scales (small, medium and industrial scale); fish species (salmonids, cold and warm water marine fish, freshwater fish and artemia); and fields of expertise (nutrition, physiology, health & welfare, genetics, engineering, monitoring & management technologies).
Application Deadline in a month

Environment and Big Data: Role in Smart Cities of India

This study identifies six environmental factors, which should be integrated in the development of smart cities. These environmental factors include indicators of landscape and geography, climate, atmospheric pollution, water resources, energy resources, and urban green space as a major component of the environment.

Corteva Agriscience and IRRI Ink Partnership to Develop Advanced Rice Technologies and Programs

The partnership seeks to improve the genetic outcomes of breeding programs, encourage sustainable rice cultivation, and develop new rice varieties which deliver higher yields and are more resilient against biotic and abiotic stresses.

Call for Applications: Communication projects which mitigate anthropogenic climate change

The Minor Foundation for Major Challenges (MFMC) is inviting applications from all over the world to fund communication projects which mitigate anthropogenic climate change.
Application Deadline in a month

EU's Call for Proposals: Digital technologies for improved performance in cognitive production plants

Proposals need to develop new technologies to realise cognitive production plants, with improved efficiency and sustainability, by use of smart and networked sensor technologies, intelligent handling and online evaluation of various forms of data streams as well as new methods for self-organizing processes and process chains.
Application Deadline in 4 months

Study reveals best use of wildflowers to benefit crops on farms

For the first time, a Cornell University study of strawberry crops on New York farms tested this theory and found that wildflower strips on farms added pollinators when the farm lay within a "Goldilocks zone," where 25 to 55 percent of the surrounding area contained natural lands.

EU's Call for Proposals: Reinforcing the EU agricultural knowledge base

Activities shall analyse and compare the approaches taken on their performance and impact for farmers/foresters as well as effectivity of the communication and information channels used for dissemination in countries and regions.
Application Deadline in 3 months

The Bali Fintech Agenda: A Blueprint for Successfully Harnessing Fintech’s Opportunities

In response to the Bali Fintech Agenda, the World Bank will focus on using fintech to deepen financial markets, enhance responsible access to financial services, and improve cross-border payments and remittance transfer systems.