(5th meeting) 2026 ECOSOC Forum on Financing for Development Follow-Up (FfD Forum)

Excellencies, DIS delegates, colleagues, I call to order the fifth meeting of the 2026 sessions of the Economic and Social Council Forum on Financing for Development. Follow up Excellencies distinguished with delegates, I now invite the Forum to begin its considerations of the agenda item 2, sub item B special high level meeting with a WTO and the United Nations Conference on Trade and Development. Under that item, this morning's discussions will focus on the implementations of the Serbia commitment actions on trade. Firstly, let me deliver my opening remarks. Excellencies, distinguished delegates, ladies and gentlemen, it is my great pleasure to welcome you all to this first special High level meeting of the Economic and Social Council with the WTO and ONGTAD governing bodies. I thank all of you for joining us today and in particular I extend my appreciation to our partners at the WTO and ONGTAD for their collaborations in bringing this dialogue to life. This meeting represents a timely and important innovation in the FFD forum, putting a spotlight on trade issues in a context that warrants deeper collaborations and joint action. By creating a dedicated space within the Financing for Development process to engage directly with institutions at the heart of the global trade issues, we are acknowledging a simple yet powerful reality. The trade, which can be a powerful engine for sustainable development, is central to the Financing for Development agenda. The task at hand is by no means we meet at a moment of profound uncertainty for the global trading systems. Geopolitical tensions, rising protection measures, supply chain disruptions and the uneven recovery from the global shocks have placed significant strains on international trade. Current conflicts threaten to worsen an already challenging situation with potential supply disruptions in developing countries. For many developing countries, particularly least developed countries and small and vulnerable economies, the challenges are not abstract. They translate into reduced export opportunities, heightened volatility and constraints. Fiscal Space While trade has driven convergence among countries over the past decades, many developing countries, and particularly LDCs continue to lack the necessary capacities to integrate productively into the world economy and global value chains. The share of least developed countries in global trade remains marginal and the benefits of trade are too often distributed unevenly both across and within the countries. The challenges are amplified by an overall financing squeeze for the developing countries. Amid falling aid, high cost of capital and high debt service burdens, countries are struggling to mobilize resources to invest in sustainable development. This is why today's discussions are so critical and so timely. In an era of the growing fragmentations, continued dialogue such as like this is necessary. Recognizing the respective roles of the WTO and onctac, the Sevilla commitment charts a path towards a strengthened global Policy coherence on economic financing and trade issues Today's meeting is an opportunity to discuss how we can achieve this in practice. In particular, this platform allows us to explore how the multilateral trading system can be strengthened to respond to contemporary economic realities. And it encourages us to identify concrete pathways to enhance the participation of the developing countries in global value chains, including through increased local value additions, especially in sectors such as critical minerals and other commodities. We must also recognize that the landscape of trade is evolving rapidly. Digitalization, the green transitions and shifts in global production patterns are reshaping opportunities and risk alike. These transformations hold significant promise, but they also risk depending existing divides if not managed inclusively. Ensuring that developing countries are equipped to navigate and benefit from these changes is therefore an urgent priority. In this context, the role of multilateral cooperations is more important than ever before. The wto, UNCTAD and the broader UN systems. It brings unique expertise and mandates to the table. By working together and by engaging closely with member states, international organizations, the private sector and civil society, we can better support countries in addressing trade related constraints and in leveraging trade as a tool for sustainable development. Let us use this opportunity to listen to one another, to share experiences and perspectives, and to identify areas where we can take collective action. Let us also ensure that the voices and priorities of the developing countries are at the center of our discussions. Excellencies, ladies and gentlemen, the challenges before us are complex, but they are not insurmountable. With the right policies, with partnerships and with political will, trade can be a powerful engine for inclusive and sustainable development. This meeting offers a valuable opportunity to move in that direction. I look forward to a rich and productive discussion and I thank you all for your commitment to advancing this important agenda. I thank you. I now invite His Excellency Jose Sanchez Fungi, President of the Trade and Development Board of unctad, to make a statement. Excellency, you have the floor.

Thank you, Ambassador, and good morning everyone. The first international conference on financing for development held in 2002 in Monterrey, placed financing for development in the global agenda. As a chair of responsibility that is above an action agenda established and the Seville commitment reiterated the important role of ONCTAD within the Financing for Development agenda as the focal point for the integrated treatment of trade and development and interrelated issues in the areas of finance, technology, investment and sustainable development. This calls for a holistic approach. The Seville commitments renewed focus on trade, including to the new special high level meeting with WTO and ONCTET reaffirms that harnessing trade as an engine for development remains A central piece of the financing for development agenda. Mr. President, the opportunities and challenges encountered by the world trade organizations membership during its 14th ministerial conference held last March in Yaounde underscores the strengths and weaknesses of the multilateral trading system. The conference signaled the membership's ongoing commitment to the WTO's cornerstones, including the most favored nation principle and the practice of decision making by consensus. That commitment reflects the WTO's enduring value to its membership. Trade has made a significant contribution to economic development in recent decades through improved market access and participation in global value chains by developing countries. Both channels are supported by the rules based system that the WTO upholds. Moreover, trade and debt are closely related. Trade remains a critical source of foreign exchange for many developing countries. When trade is disrupted, debt services become harder and scarce fiscal resources are diverted away from critical social sectors and from long term investment. ONTAD data shows that in 2023 two out of three developing countries for which data is available spend more than 5% of their exports servicing external public data. Mr. President, notwithstanding the realized and potential gains from trade, much remains to be done to refine trade policies scope to help countries in the process of economic development. Too many developing countries remain locked into exporting raw commodities while the value added stages of production and the jobs that come with them take place elsewhere. Trade policy can certainly help in breaking that pattern. Striking the right balance demands a trade policy embedded in a country's economic development strategy, one that promotes structural transformation towards higher value added activities. This requires a multilateral trading system that works in harmony with the global financial architecture. UNCTAD's foundational mandate actually pursues a basic idea that is international trade must serve development to deliver prosperity for all. Member States reaffirmed that mandate at UNCTAT 16 in Geneva, reinforcing the organization's mission to deliver equitable, inclusive and sustainable development to 2030 and beyond. This mission lies at the heart of the financing for development process. UNCTAD is well placed to contribute to to its implementation and the realization of the Seville commitment. Mr. President, allow me to emphasize on three themes that can advance the agenda that brings us together this week here in New York. First, addressing trade and development demands a comprehensive approach. UNCTAD's intergovernmental machinery offers a platform for consensus building based on the ideas emerging from this forum. Second, there is a scope to advance our collective effort on debt sustainability. Trade can generate the foreign income that developing countries need in order to to meet sovereign debt commitments. But successfully engaging in trade means that developing economies must be able to access the resources to meet that end. The trade finance gap currently totals around US$2.5 trillion. Lack of access to finance holds back production and trade and ultimately worsens an economy's net debt position. As I mentioned before, this is where some of the key deliverables of the Seville Commitment come into play, notably the Borrowers Platform. The Borrowers Platform, with UNCTAD as Secretariat, was launched last week in Washington in the context of the spring meetings of the IMF and the World Bank. The platform's objective is closing a gap in the international financial architecture by allowing borrower countries to share experiences and strengthen their voices as a group. Seville Commitment further calls for a Working Group on principles of responsible sovereign borrowing and lending, an area where UNCTAD's long standing work position it as a crucial partner to desa, the IMF and the World Bank. Third, we must build on the call for better data. The Seville Commitment supports the role of UNCTAD as custodian of the voluntary framework for measuring south south cooperation. South south trade is growing fast. Developing countries now absorb nearly 0, 60% of all developing country exports. However, least developed countries still account for just about 1% of global exports. ONCTAD looks forward to refining the agility of our data tools to react to an evolving global landscape. Mr. President, UNCTAD embraces the Seville commitment. At UNCTAD, 16 member states call for a more robust intergovernmental machinery able to deliver relevant and tangible contributions to the broader work of the UN on development, including that deriving from this forum. In Monterrey we built trust and in Seville we acted with urgency. Today we must act with a vision and courage to realize the aspiration motivating UNCTAD's foundation building a world of peace and prosperity for all. I thank you, Mr. President.

I thank His Excellency Jose Sanchez Fung, President of the Trade and Development Board of On Chat. I next invite His Excellency Mizukisi Kobo, Chair of the Committee for Trade and Development of the World Trade Organizations which joining us virtually to make a statement. Excellency, you have the floor now.

Thank you, Chair. It is an honor to address this special meeting which itself is an institutional innovation born of their Sevilla commitment. When heads of state gathered in Spain in July last year, they resolved to renew the Global Financing for Development framework and placed trade squarely at the center of that effort. They mandated closer engagement between ecosoc, the WTO and UMTAT on the trade and development nexus. Today, your Excellencies, we are giving effect to that mandate. I speak as the outgoing Chair of The WTO Committee on Trade and Development and I would like today to cover mainly two things. First, to provide some feedback on the outcomes of the 14th Ministerial Conference of the WTO, which concluded recently in Yaounde, Cameroon, as well as to touch on the significance of these outcomes for the development agenda. Second, I would like to paint a picture of the CTD's the Committee on Trade and Development's concrete work over the past year in advancing the trade and development agenda, underlining what this means for the commitment made in Sevilla. Let me begin by painting the context in which the Committee on Trade and Development is is operating under geopolitical tensions. Supply chain reconfiguration, the rise of unilateral trade measures and recalibrated preference regimes are indeed reshaping global trade patterns for many developing countries, especially in Latin America, the African continent and the Middle east, and among some of the most structurally vulnerable. This compounds the already existing higher trade costs, reduced market access and increased uncertainty. The gains from globalization have not been evenly shared. Many economies have been left behind due to structural barriers that markets alone will not correct. It's clear that we need to do more to ensure that trade is indeed the engine for development we've seen in history. Trade delivering development dividends. We must also ensure that trade and the financing architecture work together to yield meaningful development outcomes. The 14th ministerial conference held in Yaounde, Cameroon at the end of March was a significant moment for the multilateral trading system, even though its outcomes were limited. Three decisions were formally adopted at conference on the continuation of the Work Programme, on small economies, on the implementation of special and differential treatment provisions in the SPS and TBT agreements, and on fisheries subsidies. A number of other important files, including the WTO reform plan, the E Commerce work program and moratorium, an LDC package and the TRIPS non Violation moratorium were not concluded in Yaounde. Those texts have been preserved and carried forward for finalization in Geneva through the work of the General Council on the WTO reform. The ministerial discussions were substantive and by many accounts more genuinely frank than what we've seen in previous conferences. Breakout sessions on foundational principles, decision making, development and level playing field produced open dialogue and a clear sense of urgency among delegates. And three themes stood out. First, the need for reform to deliver development, not just, you know, the stronger economies, agriculture as long standing unfinished business requiring balanced solutions and to make special and differential treatment more effective in practice. Two plurilateral developments also deserve special mention. 66 WTO members, covering approximately 70% of global trade adopted interim arrangements to bring the Agreement on Electronic Commerce into effect and 129 members participating in the Investment Facilitation for Development Agreement issued a joint Ministerial declaration signaling their determination to secure its timely entry into force. The unfinished business of the Yaounde Ministerial will now be further discussed in Geneva. The WTO General Council taking place in two weeks time will give us a clear sense of of where possible landing zones could be among members now on the work of the Committee on Trade and Development. The Committee serves as a focal point for development work in the WTO. Throughout 2005 I sought to work with members to revitalize the role of the Committee through evidence based forward looking deliberations. Revitalizing the work of the Committee through evidence based discussions is central to supporting developing members fuller integration into global trade. The numbers tell part of the story. A WTO Secretariat report considered by the ctd, the Committee I chair, showed that developing countries, or rather developing economies, combined merchandise Exports stood at US$11.2 trillion in 2024, with their share of global exports reaching 47%. Commercial services exports rose to roughly US$3 trillion, accounting for 33% of global services trade. While these numbers are meaningful, their aggregate masks some disparities within the least developed country or LDC group alone. The top 10 exporters accounted for 75% of all LDC exports in 2023, up from 67% in 1995. This is a sign that even within the most vulnerable grouping, the gains are narrowly distributed. Many developing economies, particularly the most structurally vulnerable, continue to struggle to expand and diversify their participation. Ambassador Sanchez Fung highlighted some of the constraints that are related to limited export profile and lack of economic diversification in his statement. One of the most substantive threats in the CTD's regular work this year was special and differential treatment. Members engaged with the WTO Secretariat its analysis of the implementation of SNDT provisions across the WTO agreements, and we had discussions in the Committee on how special and differential treatment can serve as a genuine enabler of structural transformation on the work Program on Small Economies. The Committee's dedicated session on Small Economies produced some of the most substantive analytic work of the year. I want to draw on it selectively because it illustrates the kinds of concrete findings that should inform the work of this forum on trade integration and trade costs. Our October 2025 session examined a comprehensive Secretariat report showing that small economies face structurally elevated trade costs driven by geographic remoteness, thin maritime routes and high non tariff barriers for island small vulnerable economies, all of whom are seeds in the UN context and which make up nearly two thirds of the group. Connectivity costs erode competitiveness at every link of the supply chain. On food security, the evidence showed that small and vulnerable economies, food imports, significantly exceed the global median. These vulnerabilities underscore structural exposures that require structural responses. It's in this respect that the severe commitment can play a crucial role on climate and trade. Our November session found that small and vulnerable economies face severe climate impacts, with rising sea levels, extreme weather events and ocean warming threatening the agriculture, fisheries and tourism sectors that underpin this economy's export earnings. At the same time, there are concrete opportunities that we should note. Trade in environmental goods is growing within the small and vulnerable economies. Tariffs on clean energy technologies have fallen and further liberalization combined with targeted technical assistance could accelerate renewable energy development. This year we are marking the 20th anniversary of the Aid for Trade initiative. It will coincide with the 10th Global Review taking place from 29th to 30th October 2026. As you are aware, the development cooperation landscape is shifting fast. Earlier this month, OECD announced the biggest ODA cuts in history. A GOTA of the ODA is basically gone, with the most vulnerable being the most impacted. It is in this light that this severe commitment is of extreme importance. An Aid for trade accounting for one fifth of the total ODA will be affected by the trends that I alluded to earlier this week. The World bank colleagues made the point very well when they said that capital intensive trade infrastructure like ports, corridors, logistic hubs and so on are well suited for public private partnerships. At the same time, they can only work if trade policies that help speed up trade flows are in place and these require concessional financing. What is positive though, is that one third of support to trade policies and regulation goes to the most vulnerable members and most of it on concessional terms. And this is something we have to keep in mind as we approach the 20th anniversary of the Aid for Trade Initiative. In conclusion, Mr. Chair, the severe commitment charges us with ensuring that international trade serves as a genuine engine for sustainable development. The Committee on Trade and Development has worked to advance that goal through evidence based thematic sessions. The challenges of trade cause, Food security, resilience, digital inclusion and promoting development span wto, umtad and a broader multilateral system. I trust that this first ECOSOC special meeting with the WTO and UMTAT on trade signals commitment to deeper, sustained partnership in the service of sustainable development. And I thank you.

I thank His Excellency Mizuke Sikobo, Chair of the Committee for Trade and Development. The WTO Excellencies, now we will hear statement by respondents. I first give the floor to His Excellency Edgar Mungatsan, Deputy Minister of Finance of Armenia. Your Excellency, you have the floor now.

Good morning everybody. Honorable Chair, Excellencies, Dear colleagues, allow me to share a few reflections building on the rich and insightful discussion we have heard from previous representers. What emerged clearly is that trade continues to be a key driver of growth and development, yet its potential remains unevenly realized, particularly for developing countries and those in special situations. In this regard, the first priority is to ensure that multilateral trading system remains open, predictable and inclusive, especially in the context of growing geopolitical fragmentation. For many developing countries, including landlocked and middle income countries, rules based system remains essential to ensure fair access to markets and to support integration into global value chains, especially for landlocked countries. Reducing trade costs through customs modernization, efficient border management and improved regional transit connectivity is essential for competitiveness. At the same time, strengthening trading capacities requires addressing underlying structural constraints that continue to limit competitiveness and integration into global markets. High trade costs, limited connectivity and insufficient trained facilitation continues to significantly affect competitiveness, particularly for landlocked developing countries. In this context, advancing implementation of WTO Trade Facilitation agreement and threatening support for transit and logistic infrastructure remains critical. Second important area relates to digital and service trade. These offer new opportunities for diversification and integration into the global economy, including for countries with structural constraints. However, to fully benefit from these opportunities, it's essential to close persistent gaps in digital infrastructure, connectivity and regulatory capacity. This requires targeted investment, capacity building and greater support from international partners. Third, with regard to commodities and critical minerals, there is a need to move beyond traditional export patterns and support greater local value addition. This includes threatening productive capacities, improving transparency in commodity markets and ensuring that trade contributes more directly to sustainable development outcomes. Across all these areas, one common thread is the need for stronger coherence between trade and financing frameworks. Trade related constraints are often closely linked to financing gaps, weathering infrastructure, productive capacity and technology. Addressing them requires coordinated action across the financing for development agenda, including through enhanced support from international financial institutions, development banks and UN entities. In conclusion, unlocking the full potential of trade for development will require not only threatening the multilateral trading system, but also addressing underlying structural constraints and ensuring that countries have the capacities and resources to effectively participate in and benefit from global trade. Thank you for your attention.

I thank His Excellency, the Deputy Minister of Finance of Armenia. I now invite Her Excellency Heidi Scrodus Fuchs Vice President of the UNCTAD Trade and Development Board who is joining us virtually to make a statement.

Honorable Chair Excellencies, good morning and a very good afternoon and greetings from sunny Geneva. Let me start by thanking you, President of ecosoc, for convening us for for this very important constellation. Today we are building and perhaps also reinforcing bridges between two unnecessary divides. First, between UNCTAD and wto. As we all know, both are essential parts of an equitable and just global trade architecture and both have their own task to fill in the Sevilla commitments. And second, between the two UN capitals between Geneva and New York. And having spent more than 20 years of my professional life at the UN headquarters in New York and now close to three years here as a Permanent Representative in Geneva, my main takeaway for all of us is how essential it is to significantly improve the cooperation between the two. This is needed and important at all levels among the UN Secretariat, entities, agencies and even with us, the Member States. After FFD in Sevilla, both organizations, UNCTAD and WTO have had their high level events. UNCTAD 16 ministerial conference was held in October in Geneva and I had the pleasure of being one of the friends of the Chair, facilitating negotiations on two clusters, environment and climate and inclusive trade. UNCTAD 16 was a success in multilateralism. After difficult negotiations we managed to agree on the outcome document the Geneva consensus guiding UNCTAD's work for the next four years. And I'm particularly happy that even during these difficult times we were able to get in strong language on strengthening UNCTAD's support to the least developed countries and the small island developing states. The WTO 14th Ministerial MC14 took place as has been discussed in Cameroon just a few weeks ago and as we all know, the outcome perhaps was not what we had hoped for, but still I would dare to say not without glimpses of hope. One such positive point was the official launch of the third phase of the EIF, the enhanced integrated framework that supports LDCs in their trade ambitions. Finland was the first country to pledge the EIF in Sevilla last year and now we have been joined by several other donors and the implementation has started. Finland, as well as the European Union believes that in and is a defender of a strong multilateral system. The global trade architecture is built around the core of wto. At the same time, the system must be able to adapt to the changing world and realities and we can't let it be kept hostage by any few countries. Maybe the silver lining of MC14 is that it can pave the way for a multi speed dynamic WTO as a way forward. An important case in this regard is the Investment for development agreement. The IFDA. In MC14, no less than 129 countries of the 166 member states proposed the integration of the agreement to the WTO. This included 28 LDC countries. The IFDA would have had a significant development impact and should be considered as one important answer to questions that we are discussing here today. We, the proponents of IFDA need to pursue the case further until we get this into gold. And finally, let me turn to trade and environment. Unfortunately, climate change and the triple planetary crisis is not getting the attention it got just a few years ago. The topic needs to be brought back both as a challenge, but also very much as an opportunity. Finland remains committed to the Green Transition across society from education to business, and this has not changed. The Green Transition allows all countries, especially those most vulnerable to the effects of climate change, to win in the medium and long term. Given the strain on development finance, we must strengthen synergies within aid for trade overall. And I want to give you two concrete examples with regard to climate and trade. First, for the first time, the new third phase of the EIF has strong focus on Green transition. It identifies actions such as climate analysis, support for sustainable value change and environmental standards as well as climate finance mobilization in LDCs. I strongly welcome this focus and the opportunities it will unlock. And second, a joint initiative of the WTO Secretariat, World Economic Forum and the World bank called Act Action on Trade and Climate, which supports governments to identify concrete ways to strengthen the business and trade environment for their green companies. Finland is proud to have provided the seed funding to get this work started. So ladies and gentlemen, let me conclude with a small plea for all of us. I think it's very imperative that we, whether we are in New York or in Geneva, that we work together on all of these important topics. This will only be for the benefit of all. Thank you again for this opportunity and I wish you a very successful rest of the event. Thank you.

I thank Her Excellency Hades Grodos Fox, Vice President of the Ontario Trade and Development Board. And now I invite delegations to to engage the presenters in an interactive discussion. Request for the floor should be made by pressing the microphone button in order to enable the interpreters to do the best job possible. Please deliver a statement at a normal speaking speed. So I now give the floor to Nepal. Speaking of on behalf of the LDC.

Thank you, Mr. President. Dear colleagues, I have the honor to deliver this statement on behalf of the least developed countries International trade can and must be an engine for sustainable development. For LDCs, trade's promise remains constrained by persistent structural vulnerabilities, limited productive capacities and an increasingly uncertain global trading environment. Despite some progress, LDCs remain marginal in global trade. In 2024, LDCs share of world exports of goods and services was only 1.03%. LDC trade remains highly concentrated by exporters, products and markets, exposing us to stocks. In this particular context, the LDC Group wishes to highlight five core first, strengthening a predictable development centered multilateral trading system. A predictable rules based multilateral trading system must be preserved and strengthened with development placed at its core. This is essential to ensure that LDCs can trade under fair, stable and inclusive conditions. Second, making market access real, effective and inclusive market access commitments must be made fully effective through lasting duty free and quota free access, simplified and transparent rules of origin and the reduction of non tariff barriers and compliance constraints. Third, scaling up aid for trade and trade capacity support. Aid for trade and trade related capacity support must be significantly scaled up in line with the commitment to double assistance by 2031 with priority given to trade facilitation, quality infrastructure, SPSTBT compliance and productive capacity for diversification and value addition. Fourth, expanding access to trade, finance and risk mitigation. Access to affordable trade, finance and risk mitigation instruments must be expanded, particularly for micro, small and medium enterprises and women entrepreneurs to translate market access into real exports, jobs and integration into regional and global value chains. Finally, investing in connectivity and digital trade infrastructure. Sustained investment in transport, logistics and digital infrastructure must be prioritized to reduce trade cost and unlock opportunities in services and digital trade, including the growing potential of digitally delivered exports from LDCs. In closing, Mr. President, LDCs are demonstrating dynamism in exports and emerging strength in services and digital delivery. But growth without transformation will not deliver sustainable development. To make trade a true engine for LDC development, we must jointly act on market access, financing capacity, enterprise structure and the establishment.

I thank the distinguished representative of Nepal speaking on behalf of the least developed countries. And now I give the floor to the distinguished representative of Jim Bawi.

Thank you, Mr. President. Zimbabwe welcomes the opportunity to contribute to this dialogue with the WTO and unctad, two organizations that are central to advancing the trade related commitments to the Seville Commitment. For Zimbabwe and many other developing countries, trade is not an end in itself. It is a means to drive structural transformation, industrialization and sustainable development. The SEVU commitment reaffirms the importance of an open, fair and inclusive multilateral trading system with the WTO at its core. Zimbabwe fully supports this principle. Yet, like many developing countries, high trade and transport costs, combined with exposure to external shocks continue to limit our participation in global trade. We therefore welcome commitments to promote value addition, diversification and integration into regional and global value chains. This closely aligns with Zimbabwe's national priorities under the National Development Strategy too. Our initiative is to beneficiate our minerals, modernize agriculture and expand manufacturing. Require a global trading system that facilitates technology transfer, attracts investments and ensure fair market access. In this regard, we encourage the WTO and the UNCTAD to scale up capacity building, policy advice and trade facilitation in developing countries. At the same time, recognition of the special needs of LDCs, LLDCs and SIDS must translate into action. Reducing trade cost, improving connectivity and building resilience require sustained and targeted investment. We also emphasize the need to align trade, finance and development policies. Trade alone cannot deliver development outcomes as highlighted in the latest UNCTAD Trade and Development Report. In conclusion, Zimbabwe reaffirms its commitment to work with all partners towards a more equitable multilateral trading system that delivers on its promise to serve as an engine to sustainable development. I thank you.

I thank the distinguished representative of Jimbawe. Now I give the floor to the district representative of Third World Network Africa.

Thank you very much, Mr. Chairman, for the opportunity to speak on behalf of Terror Network and the civil society mechanism of the ffd. There is a general refrain that we all share here that we have been saying about the role of the WTO and UNCTAD as institutions which are central to maintaining the multilateral trading system and the value for predictability that we need for development. But it's important in this context to be very clear about the reality of those two institutions today and what they have become and what can be done to them so that they can actually fulfill their mandates. Mr. Chairman, there's no sugar coating the fact that WTO in particular has developed into a very hostile place where the capacity of developing, at least developed countries to effectively participate and promote their interest is at stake. The recent Ministerial conference in Cameroon. Actually, however much we say about it, the reality of the deadlock is driven by the fact that big powers like Obito were now using many means to promote their interests and carve advantages for themselves at the expense of the majority. The so called reform proposals put forward by the big powers all the way from North America, Europe and Asia were designed basically to to attack the fundamental principles of Consensus, single order taking, sdt, which are important for the capacity of developing countries and LDCs to effectively participate. And these reform proposals were actually at the expense of the long standing demands by developing countries since 1996 to redress the imbalances of the liability which may have prevented them from benefiting. A few things have been mentioned here. Some of the proposals that were made in Cameroon were more brazen, including people who just wanted to destroy MFN and things like that. But the less brazen ones, including investment for trade facilitation, end up with the same effect. Investment for trade facilitation. There's no record that if you have those degrees, we'll attract investment to developing countries. The danger though is that by bringing together a group of people to launch an agreement against the general consensus of all people, we set up a precedent in which agreements that OBITU would not now be based and discussed consensually by a group of powerful countries can bring their friends and launch agreements which not the smaller countries cannot do. Mr. Chairman, these kinds of development is something that we in a place like the United nations, which is committed to fundamentally to supporting the capacity and participation of the most vulnerable, have to address to because as we say, the Cameroon package will now go to Geneva to be addressed. What it means is that we have got more than 12 months or more in which the developed countries, the big powers, are going to continue their agenda of attacking the fundamental principle of wto. And if you don't wake up to that, then all the claims and aspirations that we put on the WTO will come back to nothing. And we in the United nations have to stand up to that and on the side, all developing countries. Thank you very much.

I thank the distinguished representative of Third World Network of Africa. Now I give the floor to the distinguished representative of South Africa.

Thank you, Mr. President. South Africa notes that current shifts in the global trading system are increasing fragmentation, uncertainty and the cost of participation in trade. The proliferation of unilateral measures, evolving standards and supply chain reconfigurations are constraining market access and weakening the ability of developing countries to compete and integrate into regional and global value chains. In this context, South Africa underscores that the most urgent priorities to safeguard and strengthen a rules based, inclusive, development oriented, multilateral trading system with the WTO at its core. The Sevilla commitment provides an important foundation, but it must now be translated into concrete action that ensure predictable market access, address structural inequities and support the meaningful participation of developing countries in global trade. From our Perspective, Three areas of actions are critical. First, there is a need to scale up support for trade facilitation, including customs modernization, infrastructure development and digitalization, to reduce trade costs and improve connectivity. Second, targeted support is required to help developing countries meet evolving standards that is Technical, sanitary and phytosanitary, as well as emerging digital and environmental requirements, so that they can effectively access and remain in key markets. Third, strengthening productive capacity is also essential. This includes support for industrial development, economic diversification and value addition, particularly through initiatives such as Aid for Trade to enable countries to move up value chains and reduce dependence on primary commodities. In addition, South Africa emphasizes the importance of regional integration, including through frameworks such as the African Continental Free Trade Area, as a key pathway to build scale, enhance resilience and support deeper participation in global value chains. As I conclude, Mr. President, a more coherent and coordinated approach linking trade, finance and development policy is required to ensure that the evolving global trading system supports inclusive and sustainable development for all. Thank you, Mr. President.

Thank you. I thank the distinguished representative of South Africa. Now I give the floor to the distinguished representative of Society for International development.

Thank you, Mr. President. My name is Erica Levinson and I speak on behalf of Regions refocus and the Civil Society Financing for Development Mechanism. Excellencies, distinguished delegates, I voice an urgent concern about the current connection between trade and development. The Financing for development language describes trade as an engine of development, and this is indeed possible. History shows us that trade has a key role to play in the development and structural transformation of countries. But we have not seen the current multilateral trading system prove itself fit to this purpose. We have seen promises prove hollow time and time again. We are continuously told that global free trade can solve the problems that it creates, that if only markets are open enough, if only trade is liberalized and deregulated enough, then it will propel development. Supposedly, global free trade will do all kinds of things. It will propel the adaptation and technology transfer of green production techniques, it will facilitate peace, it will curb migration, and it will improve the lives of women. And yet none of these things have happened. This is because the multilateral trading system, with the WTO at its core, is not oriented to serve development. It is oriented to generate profit and growth, which are often in direct opposition to development. Instead of changing its course in favor of development and equity to respond to the current challenges, the current WTO reform agenda is toeing the line of the mighty attempting to turn the WTO into an even more exclusive, opaque and anti development body. The that cannot address the actual threats the world is facing today. We saw these contradictions at MC14 in Yaounde which ended with no agreement on the major issues. We are at a tipping point. Trade is not only not propelling development, it is actively hindering it. The recent illegal wars and invasions in the Swana region have painfully exposed just how effective trade is as a tool of intimidation, coercion and war. For the big powers trade has provided the weapons helped facilitate the relationships that are colluding to perpetrate the atrocities and generated the profits that enable future illegal interventions through structural dependencies. These wars have sent energy and food prices soaring, threatening lives all around the world. It is incumbent on all of us to reimagine a multilateral trading system that is capable of fulfilling the promises that it has made instead of setting us further and further back. Lives hang in the balance. I thank you.

I thank the District Representative of Society for International Development for these interventions and Excellencies, District delegates, we have just heard from the last speaker in the special high level meeting with the WTO and ongtac. I thank all the delegations for your participation in a productive exchange of Hughes with WTO and onctad. Before making my closing remarks, I invite any final remarks from our invited speakers. His Excellency Jose Sanchez Fung, President of the Trade and Development Board of unctad, to be followed by His Excellency, Chair of the Committee for Trade and Development of the World Trade Organizations. Excellency, you have the floor now.

Thank you, Mr. President. I just want to briefly reiterate our appreciation on my behalf and also the whole membership of UNCTAD for inviting us to this important forum. I would like to join my colleagues who connected remotely Ambassador Charedos Fox of Finland, representing her country in Geneva and our dear friend and Ambassador of South Africa to the wto, Ambassador El Kobo and Chair, current Chair of the CTD at the WTO for their interventions to which we fully align. And finally, let me reiterate the membership's willingness to engage with the delegations here at the United nations in New York in order to further the mandate deriving from the recent meeting in Sevilla in Spain. Thanks once more, Ambassador, and I give you the floor back now. Thank you.

Now I invite His Excellency Mizukisi Kyobu and if you have any final remarks.

President, I think the discussion we've just had now shows just how important the implementation of the Sevia commitment is. The latest report paints a very latest report on financing sustainable development. Part of the Sevilla commitment paints a very gloomy picture. It shows a 4 trillion sustainable development gap. And I do think that it's going to be very important that we double down on the need to make the framework for financing sustainable development real and meaningful. And two, I think it's very clear that trade remains one of the most powerful instruments for development. There are several other tools in the toolkit. It's by no means the only, but is certainly a key, a key leverage especially to enable countries to integrate into global value chains, diversify their economies and build productive capacity. There has been about, I think over 130 high impact initiatives that have been launched under the Sevilla platform for action. We want to see more results because the early progress remains uneven and it's going to be very important that a large part of the activity need to go beyond technical assistance and to look at large scale investment mobilization precisely to animate integration into global value chains by developing countries. And finally, the multilateral trading system remains vital for predictability and creating conditions for fairer and inclusive trade. A predictable rules based system is without any doubt essential for lowering risk, enabling investment and ensuring that developing countries can indeed participate meaningfully in the global value chains. We are not there yet, hence we need to work collaboratively to achieve such ends. Thank you,

thank you, thank you Ambassador Kobo. And so I thank both Ambassadors, President of the Trade and Development Board, Onctad and Chair of the Committee for Trade and Deployment of the WTO as well as our excellent response for this. Now let me close these sessions, Excellencies, distant group delegates, colleagues, as we bring the ECOSOC special high level meeting with the WTO and ONGTAD to a close. I'm deeply encouraged by the day of the insight that I've saved our deliberations throughout this meeting. When countries and communities engaged in trade, they exchange far more goods and services. They exchange knowledge, the exchange labor, investment and more importantly, the potential. Beyond these tangible benefits, the trade embodies a recognition of the necessity of the cooperations. It undergoes the importance of constructive coexistence. Throughout history, many nations have derived their prosperity and development from trade. It is therefore our shared responsibility to ensure that all developing countries, and especially the least developed and those that are small and vulnerable are of food rate the same opportunities. We cannot shy away from the challenges we face today. Rising geopolitical tensions, conflicts, tariffs, policy uncertainty and ongoing disruption to global supply chains are putting increasing pressure on trade as an engine for development. It is understandable that in times of uncertainty, countries may be tempted to turn inward. But trade has consistently shown that prosperity is peeled through openness by engaging with other economies, accessing new technologies and by expanding into new markets. Fragmentation comes at a cost, and developing countries are among the least equipped to observe the impacts of more fragmented global systems. Colleagues, our aim with this biannual meeting is to bring the trade and development communities closer together so that we can identify shared solutions to our common challenges. This requires us to look ahead over the next two years leading up to the next meeting. High level meeting of the ECOSOC with the WTOI and ONGTAD at the FFD forum in 2028 with a plan to continue to advance the implementation of the Soviet commitments Actions on trade Addressing the challenges we now face is not simple, but it is indispensable and it will require collective leadership and our coordinated actions, including, but not limited to, of course, from the institutions represented here today. Therefore, I hope that today's discussion marks a beginning of a stronger partnership among ecosoc, the WTO and ONCTAD in advancing trade as an engine for development. I thank you. The special high level meeting with the World Trade Organization and ONGTAD is thus concluded by. I now briefly suspend the meeting as we prepare for the next panel discussions on international trade as an engine for development in a changing global landscape. The meeting is suspended and will resume at 11:30. Excellencies, distinguished colleagues, the meeting is resumed now. The forum will now resume its considerations of sub item D of agenda item 2 in order to hold the panel discussions on the international trade as an engine for development in a changing global landscape. I am pleased to welcome our distinguished presenters for this discussion. I also welcome our moderator, Mr. Gunther Bhagav, managing Director of Unido, who will conduct this session. I look forward to an open, very constructive and very productive exchange of views in this session. Mr. Bago, you have the floor now.

Thank you, Mr. President, for this introduction and for giving me the floor. Excellencies, delegates, ladies and gentlemen, it's a great honor for me to be here today and to moderate this session on international trade as an engine for development. Please allow me introduce myself very briefly. My name is Gunther Bega. I am the managing director at Unit United Nations Industrial Development Organization. Industrialization is driving force behind economic growth and progress for far reaching effects on employment and prosperity. Therefore, our topic is close to unido's heart given the strong linkages between industrial trade capacities which is also anchored in the Sevilla commitment. Trade as an engine for development, dear colleagues, is at a crossroads. It remains a key engine of growth for developing countries and for least developed countries in particular. However, amid rising geopolitical tensions, policy uncertainty and ongoing global supply chains disruptions. Developing countries are facing challenges and constraints and we have discussed the dramatic impact of the current crisis on the global economy, on trade and especially the developing countries in several discussions and panels during the last days. Let me reiterate some of the broader key trends on our topic from the recently released Financing for Development Report. FSDR despite trade having remained resilient overall in 2025, we see that global trade has become more unstable. Trade restrictions and uncertainties are creating hurdles for many developing countries to unlock trade as an engine for development. Trade in global services has grown significantly with digitally delivered services accounting for more than 50%. Consumer demand is favoring safer, healthier and environmentally friendly products. Regulatory oversights in trade is becoming stricter. However, the increase in south south trade and digital trade, as well as the low carbon transition have created new opportunities for economic desertification for the way forward. The FSDR is clear in its recommendations. Developing countries, especially the LDCs, need additional support and strengthened capacities as critical minerals are becoming increasingly important. A combination of financing, an enabling environment and a coherent industrial strategy is needed to drive local value addition in developing countries. With this background, let us move to the core of our discussion today guided by the following key questions. How are current shifts in the global trading system affecting developing countries? Market access, competitiveness and participation in regional and global value chains? Which actions in the Sevilla commitment are most urgent to strengthen the multilateral trading system? Ensure that that trade rules support inclusive and sustainable development, particular for the LDCs? What policy would have the greatest impact on strengthening the capacities of developing countries to trade and integrate into regional and global value chains? And how can the opportunities presented by rising importance of critical minerals be leveraged to enhance local value addition? I have now the honor to introduce the distinguished panelists on the podium today we have Her Excellency, Ms. Soli Mackeleinen, bornist, Ambassador for Developing Finance and Trade Promotion from the Ministry for Foreign affairs of Finland. Welcome, Excellency. I extend a Warm welcome to Dr. Abubakar Savadogo, Executive Secretary of the National Development Plan, Ministry of Economy and Finance of Burkina Faso. We are also joined by His Excellency, Mr. Sheikh Mohammed Bilal, Managing Director of the Common Fund for Commodities. Welcome, Excellency. And last but Certainly not least, Mr. Thomas Lasseur, lead of Tax and Extractives at the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development of the International Institute for Sustainable Development. Oh long Tittle title. Thank you very much for joining us today. In terms of the House Rules Just a few elements to point out. Even as I learned that we do not have a following meeting, I would ask the distinguished panelists to speech not longer more than five minutes to allow for more time for an interactive discussion to follow. Intervention from the floor by lead discussants should be not longer than three minutes each and speakers are encouraged to be concise and focus on key messages and recommendation on our topic and most importantly, the action needed in this regard. Let me now give the floor to our first speaker, Her Excellency, Ms. Soli Mackelainen. Bohanist Excellency, you have the floor.

Thank you, Mr. Moderator. Excellencies, ladies and gentlemen, the times are turbulent and developing countries and the least developed countries are at the forefront of many challenges that we have heard about during this week.

Already

a big challenge, or should I say threat, is the erosion of multilateralism. Many multilateral agreements seem to be increasingly sidelined as relations have become more transactional in the trade policy. Such challenges have prevailed for quite some time already. The market access of the least developed countries, their participation in value chains and eventually competitiveness may be compromised as a result of eroded multilateralism. Yet we have also witnessed successes. For example, the trade agreement between MERCOSUR and the European Union has been approved after 26 years of negotiations. Finland is really a strong proponent of multilateral cooperation. We believe it brings benefits for every country. The European Union offers the LDCs many trade policy instruments that help boost competitiveness and economic development, most prominently the Everything but arms arrangement. It provides duty free quota free access for all products except arms. EBA is the most generous arrangement for the LDCs within the generalized Scheme of Preferences. I would also like to mention the several economic partnership agreements between the European Union and various African, Caribbean and Pacific countries that help strengthen trade and other relations between the EU and ACP countries. Turning specifically to Africa, where most LDCs are, we shouldn't forget the ambitious African continent wide Free Trade Area. It will create a free trade area of 1.2 billion people, increase intra African trade, advance necessary structural reforms and create employment for the Africans. Finland has supported the Team Europe initiative that supports the development of institutional capacities of trade policy entities in Africa. Not only do we live in a changing geopolitical and trade landscape, we are also seeing changes triggered by climate change. Climate change is both a challenge and an opportunity in Finland. We are committed to the green transition across the whole society from education to business, and this has not been changed. We think that we cannot lose sight of the climate imperative and the green Transition allows all countries, especially the most vulnerable to the effects of climate change, to win in the medium and long term. Given the strain on development finance, we need to strengthen synergies within aid for trade, which has been mentioned here already, and those between development finance, trade and investment. One vehicle for this is the enhanced integrated framework that supports the LDCs in their trade ambitions and the third phase of EIF was launched at the Ministerial Conference of the World Trade Organization in March and Finland is a country that supports this third phase. Along with other donors I want to mention the so called Act Action on Trade and Climate. Finland provides seed funding to the act. The act supports governments to identify concrete ways to strengthen the business and trade environment for their green companies. And to conclude, maybe a few thoughts about Critical mineral value chains Critical minerals are key to the twin digital and green transition. They pose opportunities and challenges for LDC producer countries. The increased competition on critical minerals means that resource rich developing countries stand either to gain or to lose in the race depending on the decisions they make regarding their mineral wealth. Partners such as Finland, who are interested in helping the countries to develop their local mineral value chain and to create decent jobs, and not only in the minerals that can be mined, are the best bet for them when developing new mining projects. Social license to operate is of crucial importance. An important way in which to achieve this is by making sure that mines bring jobs for the local community and not any jobs, but jobs that offer decent wages. Whether it's in artisanal or small scale mining which constitute the majority of mining jobs in developing countries or in industrial scale mines, Finland works together with resource rich countries on capacity building in the mining sector. It's also important to help the countries to develop their fiscal system so that the revenue created by the mineral wealth stays in the country. We believe in broad based cooperation in high environmental, social and governance standards in building critical mineral value chains at home and abroad. Together, putting effort into sustainability in this sector and value chains will pay off. In particular, I would like to emphasize responsible mining practices including zero waste mining and circularity. This is important because mining can also be done in a way that creates more new problems than it solves both social and environmental. So only through building responsible mineral supply chains together can the mineral rich developing countries be among the winners in this race. Thank you

thank you Excellency for sharing your valuable insights and especially overview on the several trade agreements of the EU and the role Finland has played and the contributions from your country. And as Managing Director of unido, I'm also very happy that you are one of the first countries who joined our alliance for Critical Minerals. Thank you for that. Let us now pass to the next distinguished panelist, Dr. Abubakar Sabadogo. Dr. Sabago, you have the floor.

Thank you, Mr. Chairman. Our panel falls in a global context where there are geopolitical tensions and uncertainty about trade policies. And there are also restrictive measures and restricting of supply chains. This has affected the opportunities that developing countries have. This situation has impacted the situation on the market competitiveness and the ability to integrate into regional and global value chains. In this context, therefore, I'm going to talk about some key measures which are as follows. My first measure is clear. Trade needs to be considered to be. Cannot be considered to be an end in itself, but we need to address structural matters. The Seville commitment shows that trade is a motive for inclusive growth. It's a way to curb poverty and it can be put to work for sustainable development. But it's also true that the multilateral system today is in jeopardy while developing countries, especially African countries and LDCs and landlocked countries, have limited productive capacity and insufficient commercial infrastructure. My second message is that for developing countries, the priority is not only exporting more, but exporting better, with more local processing, more technological content and more added value and more decent jobs. This is exactly the spirit of the national development plan for 2026-2023 30 in Burkina Faso, which is a recovery plan and which aims for sovereign competitive growth grounded in local production, transformation of national resources and addressing industry and reducing external dependence. Our country urges our partners to support it through financing for technology as we engage in our industrial push, aiming to turn the page on manufacturing. And we want to increase our manufacturing by 2030. And we want to ensure that trade helps to transform the economy and the well being of the population. My third point has to do with the multilateral trade system. This is a period of growing fragmentation and here we don't need less but more effective multilateralism. It needs to be more fair and more inclusive. The Seville commitment clearly calls for strengthening a multilateral trade system based on open, non discriminatory, transparent and equitable rules, with the WTO at the center. But we need to be frank. Fair rules aren't enough if capacity is falling short. As the 2026 report on development shows, the LDCs are still lagging behind in terms of exports, so their situation has been stable and there's still a high trade deficit here. My fourth message has to do with the global and regional value change. For many African countries, the most resilient Approach means adding value in order to increase the strength of the global level. The 2026 report says that given growing south south trade, regional integration and the digital transformation, new opportunities are opening for us. This means integration of trade, industrialization and infrastructure to transport in industry, facilitate trade and ensure access to financing. And my fifth message has to do with critical minerals. They're increasing in importance. That's opening up major strategic opportunities for developing countries. This opportunity will benefit us only if we use frameworks allowing for raw materials to be exported and materials to be processed. Next, I want to set out three areas for action. First, preserve and reform the multilateral trade system to make it predictable, fair and conducive to development. Second, we need to invest massively in the productive capacity of developing countries. Energy, infrastructure, finance, trade skills and support for LDCs. And next, we need to create

local

value and ensure structural transformations. Thank you.

Thank you Dr. Kaeper for this very important contribution and also the clear messages you sent, especially on the topic of fair trade, added value and the role of critical minerals. And thank you also for being absolutely in time. I have now the pleasure to give the floor to His Excellency Sheikh Mohammed Bilal. Excellency, you have the floor.

Thank you, Mr. Madhajar. Excellencies, distinguished panelists, let me begin by introducing you to Beatrice. Beatrice is a coffee farmer in Uganda. Coffee is her family's only stable income. But it is never truly stable. When rains fall, prices drop or shocks heat. Her entire households feel it. When we came to know her, she had only one hectare of land producing coffee. With our fund, she's now doing two hectares. With that she is little better than what it was. But still, this is why I think this small coffee, cocoa, cashew is where I think our discussion matters. If trade is the engine of development, commodities are the fuel and small holders and SMEs are their drivers. We need to pay attention where it is due. As the system works. It is more working towards the other end of the value chain than it is where it all begins. We thank undesa, ecosoc, everyone for making this forum possible and also putting Common Fund for Commodities and organizations and organization Catalytic finance into the SEBI commitment of actions at 46D. We thank you for that. But how do current shifts in the trading system affect developing countries? Three facts stand out. First, the 2026 Financing for Sustainable Development reports shows that average tariffs on exports from least developed countries rose from 9% to 28% in just one year for the developing countries. For other developing countries, it is from 2 to 19%. This is not a fluctuation. It is a structural penalty on incompleteness. It eats away the limited competitiveness that they had. So punishing countries is still building the capacities to move up the value chain. We need to take care of that. Second, the trade finance gap stands at 2.5 trillion annually in West Africa. Banks cover only 25% of trade in the Mekong, as low as 20%. Without working capital, a farmer cannot buy seats, A cooperative cannot store hardware, A processor cannot run at capacity. Trade becomes a channel of vulnerability, not development. Third, geopolitical shocks, like disruptions in the state of Hormuz, raise energy and fertilizer prices overnight. Commodity dependent countries absorb these shocks, even though they are the least to contribute to that. If we juxtapose these shocks on the severe outcome document, which Severe COVID 19 actions becomes more imminent and urgent. I draw your attention to paragraph 46 on local value addition and paragraph 44 on SME trade finance. But commitments need practical finance. That is where the cfc, the Common Fund for commodities fits. We provide working capital, storage, finance, processing upgrades. Trade finance directly to SMEs, small and medium enterprises, cooperatives, local processors. One example, Western farms in Cameroon, A peak farming enterprise supported by the common fund since 2018. But in 2023, swine fever wiped out the entire stock of 8,500 animals. A terminal shock for the business. Thanks to their resilience and also with our help, we granted them payment delay, investment, holiday and other haircuts. The company recovered, protected jobs, repaid, slowed in full. That is resilience. That is what catalytic finance can do. So how do we scale this? First, a regenerative contribution. In concentrated commodity markets, a few actors capture extraordinary gains during volatility. A modest share of those gains, channeled into a global SME resilience fund, would provide for working capital, storage and processing, stabilizing the base of the value chain. Second, encolad supply chain finance. Large angor farms, exporters trade as processors have access to capital. Using their purchasing agreements to de risk SME financing can unlock liquidity at scale. This needs public guarantees, blended finance and clear standards to work together. These instruments create a powerful system. Regenerative capital absorbs the risks. Encore finance multiplies the resilience. My closing message is simple. Trade is not automatically developmental. It becomes developmental only when we invest in productive capacity at the local level. With SMEs, cooperatives and farmers. Commodities are not a side issue in most developing countries. They are the economy. The choice is clear. Continuous system where risk is concentrated among the many and opportunity among the few or build one where global prosperity is anchored in local resilience. We choose the latter. Think global, act locally. Thank you.

Thank you very much, Excellency for your valuable insights, especially for stressing out the outlining effects of the interruptions of commodity trading on coffee, cacao and other commodities and also the importance of supporting processing industry and the linkage to finance. I would now give the floor to Mr. Thomas Lasour. Mr. Lasour, you have the floor.

Thank you so much. Mr. Moderator, Chair, Excellencies, colleagues, it is a pleasure to join this panel today. And I speak today on behalf of the Intergomodal Forum on Mining, Minerals, Metals and Sustainable Development. I agree with the moderator. It is a very long title, so I may refer to it as IGF as our friends. And so the IGF supports more than 85 member countries in advancing sustainable development to effective governance of the mining sector. And so I will focus my remarks on the trade in critical minerals for obvious reasons. So the question I'd like to answer is how the rising importance of critical minerals can support value addition, technology transfer and and shared benefits. This is a priority for many policing countries and a core focus of our work at the igf. So from a policy perspective this is indeed a real opportunity. But the outcomes depend on the concept of criticality. How it is understood and how policy choices are prioritized in countries and regions that are rich in minerals. So my first comment, I would like to go back to the concept of critical minerals and criticality. And as you know, you may have heard from other colleagues at the igf, we often make the point that criticality is not universal. What's critical for countries is not the same as what's critical for large industrial economies. And what counts as a critical minerals and what government should do about it varies across countries, depending on development objectives, on the economic structure, on their position in the value chains, and on careful market analysis. So first of all, many producing countries start with a domestic definition of critical renewals as part of their value addition strategies. And this is often broader than energy transition minerals alone. A lot of minerals don't qualify necessarily as energy transition minerals, but can be critical for producing countries from their own consumption, for exports for a number of reasons. So that definition is grounded in national development strategies and careful analysis of supply demands and where the markets are leading. And those strategies can prioritize fiscal revenues, local community benefits or mineral based industrial development. There's not necessarily one single right model. It will vary by by country and context. Now Let me go deeper into a few comments on value addition. First, what we've seen is that it's clear that when countries pursue mineral based industrial development, privatization matters. Because not every single mineral or mining project is suited to downstream processing.

It's.

There's a lot of factors have to be taken into account, market access, infrastructure, energy availability, skills and scale before deciding whether there is opportunity for downstream value addition. So successful strategies are typically guided by stock taking exercises to identify where national interest is the greatest. And this is the kind of work that the IGF is supporting several of our member countries in collaboration with international partners. A second point on value addition is that value addition is broader. It's not limited to downstream beneficiation. There are other ways that producing countries can capture value from their mineral sector. So experience shows that some of the most durable development gains in practice have come through local content supplier development, particularly in goods and services that are linked to mining and where domestic firms can realistically compete, scale and integrate into wider value chains. There are also horizontal linkages, for example, with shared use infrastructure, they can be quite promising through rail, ports, power, water, digital connectivity. These can be built by miners, but with a broader development agenda in mind to further encode these benefits into the broader economy. To seize on these opportunities, government need to apply disciplined industrial policy practices. And that includes consulting with stakeholders, enforcing rules, consistently learning from experience and adapting over time. And because these strategies carry risk, adapting over time sometimes means sunset clauses. Exit strategies are important to know when to exit either successful a successful strategy that has paid out or an unsuccessful one that has become a sunk cost. There are also environmental and social risks that were highlighted by my distinguished panelists as well that needs to be considered at the outset and managed and mitigated if they arise. And finally, on value addition, it's important to consider the role of trade and investment agreements and how they are designed and implemented. Because where these frameworks preserve sufficient policy space, governments are better able to supply supplier development, technology transfer and gradual upgrading along critical minerals value chains. Otherwise they can constrain that space and prevent those types of actions, especially in older generation agreements. Now let me turn briefly to taxation and financial benefits.

Briefly, please.

Sorry.

Briefly, please, briefly.

Yes, just a quick point. This is my area expertise. I just say a quick word just to dispel sometimes the myth that there's a trade off between generating financial benefits, tax revenue from minerals and exploring value addition. I don't think there is. I don't think there is any inherent tension between the two. In practice, generous tax incentives at the extraction stage are rarely decisive for downstream investment decisions. And when incentives are needed, they are more effective when targeted and ring fenced around industrial activity itself, preserving the revenue raising potential of extraction. So I will stop here and I look forward to further discussions on what can be done to promote sustainable value chains in critical minerals. Thank you.

Yeah, thank you. Thank you Thomas, especially for your comments on the importance role of value addition and sector and also the investment agreements. So now I would like to invite our lead discussants to deliver their remarks. I remind you that we have agreed three minutes for each. And first of all, I would like to give the floor to Mr. Michael Franschak from the center for Policy Research from the United Nations University. Mr. Francisk, you have the floor.

Thank you. Thank you very much, Chair. And thank you to the panel for setting the stage so clearly. I will try to be brief. Let me just offer three reflections. First, on the global trading system. We are seeing a rapid reconfiguration of trade driven largely by major powers. Critical minerals are now central to energy. Transitions to artificial intelligence into national security strategies for developing countries. There is a risk that this reproduces a familiar dynamic. Minerals flow out and value accumulates elsewhere. In other words, the terms of trade problem could persist in a new form. This is a real concern for the more than 100 countries UNCTAD classifies as commodity dependent. This includes over 80% of the of least developed countries. The Sevilla commitment responds directly to this challenge. It acknowledges the potential for adding local value in processing. But importantly, it also stresses the need for support to do that through in particular the Aid for Trade program. So at a moment when critical minerals are reshaping global demand, the choices now in the next year or two could shape development trajectories for decades. It's important to get it right. Second, this is not just about capacity constraints. It's also about rules and power. Many barriers to value addition are embedded in the trading system itself. Tariffs, subsidies, standards and investment rules that make it harder to industrialize or to respond to shocks. There are also deep asymmetries in negotiating power between states and firms in in contracts, in dispute settlement and even in access to geological data. In Sevilla, countries made important commitments to address these issues, to address trade restrictions that limit processing in least developed countries and to provide support to developing countries to negotiate fairer and more durable contracts. Now they need to implement. Third, there are some lessons from the governance of sovereign debt and I'll provide a few now. Progress in that space has not generally been top down. It's been driven by coordinated action from developing countries and other partners, but especially small island states and LDCs who have pushed for practical changes to the rules. For instance, collective action clauses emerged in the early 2000s as a response to real bargaining disadvantages, helping prevent holdouts. The African Legal Support Facility was created in 2008 to strengthen negotiating capacity and defend against predatory litigation. During the pandemic, pause clauses were advanced by vulnerable countries facing climate and price shocks and were successfully mainstreamed by multilateral lenders. And most recently, the borrowers platform that emerged from Sevilla reflects a similar logic of cooperation and coordination. These did not solve all problems, but they changed the rules of the game in tangible ways for developing countries, and I think in the process moved that discussion from litigating the past to governing the future. And I'll wrap up with just one reflection, that there's a parallel here for critical minerals and trade. We see this, the importance of collective approaches in regional initiatives and in strategies that link trade, industrial policy and resource governance more deliberately so. My last reflection. When global solutions are slow, progress often comes from countries innovating, that is adapting ideas from other domains and in building coalitions that reshape the system. And I think that spirit is fully present in the Seville commitment.

Thank you.

Thank you very much for this very concise intervention, Mr. Franschak. And next I would like to give the floor to Mr. Tete Homiku from the Third World Africa Network, part of the Civil Society FFD mechanism. Mr. Homiku, you have the floor.

Thank you very much, Mr. Chairman. I'm speaking on behalf of the Civil Society mechanism, and I'd like in my presentation to emphasize something that has been implicit in all the remarks so far, but which should be emphasized, that the discussions that we are having today are taking place in the context where international trade regiments has become arena, an instrument of veritable geopolitical battles for hegemony. Some big powers brazenly combine the abuse of various trade instruments and other forms of direct coercion to extract concessions in access to market and key resources for themselves and their opponents deploy more subtle devices on their own, but to the same end. And as we all know, as has been repeated, the control of critical mineral resources, technology and economics is at the heart of this trade war that we are witnessing now. And third party countries, especially from the global south, have become the targets of this crumble for critical mineral resources. I already spoke earlier about how this crumble is leading in the WTO to the dismantling or the fundamental principles of consensus decision making, which is undermining the capacity of developing an LDC to be able to stand for themselves and promote their interest in the wto. I won't repeat that, but what is happening in the WTO is also taking place outside inflated agreements and bilateral dues, where the biggest traders, trading powers again, are combining coercion for their own interest. The irony here is how we in this forum are responding. If you look at the draft outcome document for the Seville platform, this forum that we are having here, we just simply acknowledge that what happened in Cameroon and we are looking forward for the developments, and we actually adopt the language of the big players who are trying to dismantle and reorganize the trade system for themselves. In the area of critical minerals, we repeat the problems of the Seville Platform, which basically acknowledges that critical minerals are important, but focuses less on what must be done in an international trade regime to make it possible for countries to benefit from it by focusing on domestic policies, including simply FDI liberalization, for them to benefit. Now, the question that confronts here as here is this. Given the situation that we are having, what is this assembly of, of intergovernmental mechanism whose fundamental mandate is to promote and support developing countries? In a week it's going to do, are we going to begin to dance around slender and narrow peaceful processes and formations while the house that we are building is burning down and being burned down by the big powers? Or are we going to stand in solidarity and face up to the trade war being launched by the big powers so that we can support them? One thing is clear, that unless we return to the fundamental principles of global solidarity and equity in decision making on trade, we will, and then support the developing countries and the most vulnerable. We will be colluding, surely, but slowly, with the erosion of our own legitimacy. Thank you.

Thank you very much, Mr. Romycoux, for this very valuable insight from the civil society. Before we go now to the discussion, I would like to welcome your Excellency, Mr. Hof Hannesian, sorry, Vice President of ECGESOC. And he will now share here this panel and I would have the pleasure to pass the floor Back to you, Mr. President, for the interactive discussion segment.

Thank you very much, Mr. Beggar, for moderating the panel discussion. I now open the floor for the interactive discussion in order to enable the interpreters to do the best job possible. Please deliver your statement at the normal speed. So I'm giving the floor now to the distinguished representative of Zambia, to be followed by the FAO representative.

As the world

transitions to clean energy. Chairperson, Excellencies, distinguished guests. There's an upsurge in demand for critical minerals which should and must benefit developing countries, Zambia included. Developing countries must harness critical minerals beneficiation through deliberate support and investment in the entire value chains as opposed to relying on extraction as the case is now. Zambia is well posed and has already instituted policy and institutional regulatory frameworks aimed at supporting domestic processing of minerals, smelting, refining and thus establishing mineral based industrial clusters. These measures ensure strengthening of downstream activities, technology transfer and promote greater participation of developing firms in regional and global value chains. We implore developing countries to be deliberate and formulate strategies and regulations that foster business linkages among micro, medium and small enterprises and large mostly owned foreign enterprises. Joint ventures and partnerships must be enhanced to maximize beneficiation and value addition in the country as this can foster industrialization, technology transfer and create new skills and jobs. Promotion of regional cooperation also matters, as can be seen in the ongoing cooperation of the development corridor called Lovito Corridor, which covers Zambia, Democratic Republic of, Democratic Republic of the Congo and Angola. The development of the corridor aims to improve transport, logistics, commerce and trade and energy, telecoms and infrastructure, among others, which are important ingredients to growth of local and regional economies. Distinguished Delegates, challenges in the implementation of these programs still abound. We therefore appeal for partnerships and international cooperation to support infrastructure development, capacity building to artisano and small scale miners and other producers and service providers, effective environmental management enforcement mechanisms and negotiating effective and fair commodity contracts with terms that are predictable, stable for investment, while also providing revenue certainty for governments. Chairperson, I thank you.

I thank Representative of Zambia. I now give the floor to the FAO Report.

Representative thank you, Chair. Trade has long been a cornerstone of economic development. It is a powerful catalyst for food security and resilience. Global trade helps address structural imbalances between where people live, where land and water are available and where key inputs are produced. By combining these factors efficiently, food can be produced year round across regions in ways that are both economically viable and environmentally sustainable. Trade also helps countries cope with extreme weather events, allowing access to global food supplies when floods and droughts disrupt domestic production. In today's interconnected agri food systems, trade goes well beyond physical goods. It enables the flow of technology and knowledge, improved seeds, fertilizers, adapt to local conditions, digital services, artificial intelligence for agriculture and early one systems that help farmers anticipate shocks and adapt to climate and market risks. These exchanges underpin productivity growth and long term development, particularly in food important, dependent and resource constrained countries. The current crisis in the Middle east is a stark reminder of the Importance of keeping Trade flowing As often happens, we truly value trade when it is disrupted. Disruptions to energy and fertilizer supply chains are raising costs, reducing input use, lowering wheat yields and undermining farmers livelihoods. While all countries are affected, the most vulnerable have the least capacity to absorb these shocks. FAO therefore reaffirms the need to maintain open and predictable trade in food and agriculture inputs, especially fertilizers. Fertilizer scarcity ahead of upcoming cropping seasons, particularly in the Southern hemisphere, could have serious global consequences if not addressed. Maintaining trade channels open is not only an economic necessity, but a more imperative to protect, protect livelihoods and stabilize agri food systems in a time of profound uncertainty. I thank you.

I thank representative of the fao. I now give the floor to the distinguished representative of Mexico, to be followed by Cuba.

Mexico

Mexico is grateful for this space to think about international trade as a driver of development at a crucial time for implementation of the civil commitment. For Mexico, trade is a strategic part of development. Our country has one of the broadest trade agreement networks in the world, with preferential access to more than 50 countries. This has made it possible to consider our economy as one of the most integrated into global trade and to drive investment to strategic sectors. More than 80% of our trade is carried out under these agreements, reflecting their central role in our development model. Nevertheless, we also recognize that the global context is becoming more and more complex with fragmentation, non tariff barriers and disruptions in value change. These are disproportionately affecting developing countries and this is why Mexico reiterates that a multilateral trade system that is based on collapse, clear and predictable and inclusive rules continues to be indispensable. In this regard, we are actively supporting reform of the World Trade Organization to strengthen its response capacity and to strengthen the dispute settlement mechanism and to advance digital trade. Nationally. Mexico is deepening its trade policy with with a focus on strengthening productive capacity within the country. This has led to strategic substitution of imports and attraction in far flung areas. Customs reform of 2006 improves traceability standards, facilitating trade and combat tax fraud. Also supporting competitiveness as integral to the system. Mexico is also supporting greater coordination between trade financing and productive development. Broadening access to trade, especially for SMEs to ensure that the new requirements for sustainability are enablers rather than barriers is a priority. Finally, we highlight the role of regional cooperation as a catalyst for strengthening value chains and for driving productive diversification. Scaling Solutions Mexico reaffirms its commitment to the implementation of the Seville commitment and to a global trade system that generates Shared prosperity and sustainable development. I thank you.

I thank the representative of Mexico. I now give the floor to the distinguished representative of Cuba, to be followed by the Society for International Development Organization.

Senhor Presidente Chair Developing countries are suffering the grave consequence of the current multi dimensional economic crisis around the world. We must the current system is perpetuating the problems and exacerbating the precarious position of developing countries. In this regard, we must call out the protectionist unilateral policies that are blocking access to markets and reducing competitiveness of the products exported by the global South. And in this case this hinders the development of countries who have suffered under colonialism and neo colonialism. Similarly, we must reject the arbitrary and illegal unilateral coercive measures imposed against sovereign countries. These are violations of human rights, including the right to development of the population. These measures are also violation of international law, the Charter of the United nations and the the principles that underpin the multilateral trade system. As a general rule, it is developed countries that implement unilateral coercive measures and developing countries who suffer under them. One example of this is the unjust economic trade and financial blockade imposed by the government of the United States against Cuba for more than six decades now. It has now recently increased as being an energy siege. If we want to have a new commercial trade order, there should be real commitments and differentiated treatment and we should adhere to the shared but differentiated responsibility within the unfccc. Increasing the participation of developing countries in international financial institutions is also important. Today it is more important than ever that we build a global trade order that is just and does not lead to discrimination. If we truly want to achieve the promise of leaving no one behind. I thank you.

I thank representative of Cuba. I now give the floor to the representative of Society for International Development to be followed by Zimbabwe.

Thank you, Chair. My name is Erika Levinson and I speak on behalf of regions. We focus in the Civil Society Financing for Development Mechanism. Excellencies, distinguished delegates, let us take this opportunity to critically analyze if the Compromiso de Sevilla responds to the current moment. The connection between trade and development is central in the financing for development process. Following the human capabilities approach to development, trade should be a means to the end of improving people's capabilities. In this sense, and despite growth in gdp, the multilateral trading system has failed to meet its purpose. The Compromiso de Sevilla sets out that a universal rules based, fair, open, transparent, predictable, inclusive, non discriminatory and equitable multilateral trading system should contribute to the achievement of sustainable Development in all three dimensions, providing policy space for national development objectives, poverty eradication and sustainable development, while remaining consistent with relevant international rules and countries commitments should is the key word here. It is an acknowledgement that the current multilateral trading system is not fulfilling these purposes. The direct violence in the Swana region being facilitated by trade and the indirect violence of unilateral coercive measures, price shocks and manipulation are certainly not rules based, predictable, non discriminatory or equitable. And they are in direct opposition to international rules. It has been laid bare that WTO rules are binding for those economically and politically weaker, whether it is at country level or constituency level, while the powerful actors that push these rules in the first place are free to break them. No rule, no principle, no values are sacrosanct anymore. While the fundamental imbalances enshrined in WTO rules must be addressed, the United nations must fulfill its central role of ensuring the global public good. This is precisely why the financing for development process originated in the first place to provide a democratic forum for exchange on the systemic inequalities in the global economy with the understanding that social and economic justice are inherently connected in our current context of might makes right. We are in desperate need of a shared vision of progress and justice and the global solidarity to pursue such a vision. Some of the seeds of these initiatives are located in the Compromiso de Sevilla.

But.

But ambition needs to reach far beyond mere implementation to truly make progress towards trade justice. The Compromiso must be the floor, not the ceiling of global cooperation on trade. Cosmetic fixes on a broken system will not correct our current course. I thank you.

I thank the representative of Society for International Development. I now give the floor to the distinguished representation representative of Zimbabwe, to be followed by the Republic of Korea.

Thank you, Mr. President. Zimbabwe welcomes this important discussion on trade and unlocking value addition in critical minerals. For resource endowed developing countries such as Zimbabwe, this is not just an economic issue. It is central to sustainable development and structural transformation. Mr. President, the Seville commitment recognizes that rising global demand for critical minerals present a strategic opportunity. An opportunity not only to expand exports, but to move up the value chain through processing, manufacturing and deeper integration in global markets. In this context, we reaffirm the principle of permanent sovereignty over natural resources and the right of countries to harness these resources in support of inclusive natural development. Turning this opportunity into reality requires deliberate and decisive policy action. In Zimbabwe, the government took the decision to restrict exports of lithium concentrates. This reflects a clear and considerable choice that our natural resources must underpin industrialization create jobs and generate lasting value at home. We cannot remain confined to the lower end of the value chain. At the same time, we recognized that policy intent needs to be supported by an enabling global environment. In that regard, allow me to share a few points. First, trade and investment frameworks must do more to support downstream activities. This requires mobilizing affordable long term finance for energy, transport, industrialized industrial infrastructure. It also means promoting technology transfer and creating space for local stakeholders to meaningfully participate in value chains. Second, capacity constraint must be addressed through strengthened international cooperation. Supporting project preparation. Access to markets and compliance with international standards will be essential in developing countries if developing countries are to compete effectively. Third, the global trading environment must preserve policy space for industrialization. Our development paths are not similar. We retain the flexibility to pursue strategies that reflect our national priorities and realities. Mr. President, ultimately unlocking value addition in critical minerals goes beyond trade. It is about resilience, equity and ensuring that our resources translate to real improvements in the lives of our people. Zimbabwe stands ready to work with all partners to promote value addition and critical minerals. Strong mutually beneficial partnerships will be key to ensuring that critical minerals become a driver to inclusive and sustainable development for present and future generations. I thank you.

I thank the representative of Zimbabwe and give the floor to the distinguished representative of Republic of Korea, to be followed by Peru and Children and Youth International. The last speaker.

Thank you, Chair and I also appreciate the panelists. If I may, I would like to

pose a question about the proliferating regional

trade agreements in the global trading system. I think because perhaps Ambassador Buhanist mentioned a trade agreement with mercosur. Some are worried about the regional trade agreements as a sign of path of

further fragmentation or reconfiguration.

But others are somewhat more positive thinking that they are building block for more inclusivity ultimately. So how do you see and perhaps design these regional trade agreements to help developing countries or more targeting LDCs in a way that can not just provide market access but also strengthen enabling environment

or institutional capacity as well.

Thank you.

I thank the representative of Republic of Korea. I now give the floor to the distinguished representative of the Peru, to be followed by Children and Youth International.

Gracias.

Thank you very much, Chair. Peru is a mining country and this is why we welcome the opportunity to contribute to this debate. For Peru, generating added value, especially for critical minerals, is not just an issue that is restricted to mining. It represents an axis for development industrialization and is increasingly crucial axis for the transition in the global economy. Peru is a major producer of these for modern industry. Especially copper, zinc and tin. For Peru, the talent is not just a about broadening the offer. The key challenge is ensuring that producer countries actively and effectively participate in segments of greater added value services, innovation, certification, logistics and development of local providers to avoid being limited only to the exportation of raw materials and restricting as this would restrict the processing of our resources. And so Peru considers that generating value when it comes to critical minerals should be promoted through an approach that is focused on development. It should be focused on creating enabling conditions for producer countries to advance to stages higher up in the value chain. This implies access to financing, promoting technology transfer, strengthening technical and scientific capacities and skills, developing infrastructure and especially in the areas of energy transport and digital transformation and consolidating traceability and transparency systems. As part of this effort, international financial institutions have been playing a critical role in catalyzing sustainable development of an added value, coordinating sustainability, creation of local value and strengthening scientific value and resilience of the supply chain. Similarly, strengthening regional value chains contributes to consolidating productive capacity and to reducing vulnerabilities, external vulnerabilities. Peru reaffirms this its commitment to international cooperation reaffirms its readiness to work constructively with its partners to promote sustainable production, to generate local value and to strengthen capacity.

I thank you, I thank representative of Peru and give the floor to the Representative of the Children and Youth International. The last Speaker

Mr. President, I speak on behalf of FFD Children and Youth Constituency. We welcome paragraphs 38 and 40 of the draft outcome which highlight the concerning state of global trade. Today's crisis of multilateralism is reflected in the global trade system, threatening the livelihoods and opportunities of billions of young people, particularly in developing countries. We also welcome paragraph 42's recognition of the digital divide in trade, which remains a key barrier that excludes women and youth from trade systems. But the outcome document needs to do better on a number of counts. First, we call on this forum to operationalize obligations to promote technology transfer to LDCs and measurable incentives and transparent annual reporting, equitable licensing and tech transfer, accelerate access to essential medicines and climate technologies and build local value chains on the ground. This looks like children receiving life savings, care and communities deploying early warning systems to protect against climate disasters. Second, recognize the interlinkages between trade and climate. For trade to function as a driver of sustainable development, it must be clearly aligned with the realities of the triple planetary crisis. We appreciate the Panel's mention of climate and urge the Forum to explicitly name climate change in the outcome document and and to Implement a review on the intersection of trade and climate in the 2027 session. Thirdly, integrate dedicated youth impact assessments into trade policy reviews. Both at the annual FFD Forum and the WTO Ministerial conferences, young people are referenced in paragraph 42 as beneficiaries of trade finance support for youth owned businesses. However, that is not enough. It treats young people as a subcategory of MSMEs rather than as a generation whose economic futures are structurally shaped by these decisions. Mr. President, the FFD Children and Youth Constituency engaged at FFD 4 in Sevilla and at the WTO Ministerial in Yaounde in March. We are in this room today and we will be in this room in 2027. The question is not whether young people understand the multilateral trade system. We do. The question is whether the system will be reformed in time to give a meaningful voice to the generation that must live with its consequences. Thank you.

I thank the representative of the Children and Youth International. And now invite Mr. Beggar to invite key takeaways from each of the panelists and to make his own closing remarks.

Thank you very much. Mr. President, Excellencies, delegates, ladies and gentlemen, I would now like to ask our distinguished panelists to give their concluding remarks focused on one key takeaway or policy recommendation in one minute if possible. And we will start with you, Excellency, Ms. Makelinen Booth. Perhaps you can also try to answer the question of the distinguished delegate from Korea, if possible. And for that, of course, you will get minimum one more minute if possible. Excellency, the floor is yours.

Thank you, Moderator. I hear that there's a lot of demand for the multilateral system. Fair rules. But since the multilateral system is not working perfectly, I think there's also demand for strengthening regional cooperation. And here I think also creating regional cooperation structures and engaging in regional FTAs will also improve the developing countries capacity to take advantage of the multilateral trade systems and agreements. So I see like dual benefits in this. And one more observation would be that trade and finance go together. And here I just want to flag the role of the multilateral development banks. They can help ensure that fair contracts, for example, in critical minerals will be there and high standards will be taken on board. Thank you.

Thank you very much. Very concise remarks. Now I would like to give the floor to Dr. Zawadogo.

Thank you, Chair. In light of what was said, I think the main priorities for action that I mentioned at the end of my statement have been echoed here. And I hear about the need to preserve the multilateral traits system and its multifaceted form. There's a need to massively invest in the productive capacities of developing countries. And there's a need to address the trade of critical minerals and we need to change them into engines for development. And in that regard, I'm very satisfied. Thank you very much.

Thank you very much. And now, Excellency, Mr. Villar, I invite you to take the floor.

Thank you, Mr. Moderator. I don't know. Time is too short and too much to say. I don't know where should I go from either from Botswana's diamond or Jambi's copper or Ghana's gold. Excellency, these discussions is very important and I would only humbly like to suggest that taking lessons from history, we don't try to make the same mistake when we went there to use their minerals and leaving them dry. So we need to find a way where we can build a local partnership and try to work with the community and try to say that they are the main stakeholders. They should decide what should be the game of the play, rule of the play for us in the common for commodities. We have experienced little bit of that in Ghana, where you know that cocoa is the second largest producer after Cordobua and lot of Ghana. And cocoa fields all on a sudden became unavailable because people are going for gold mining. I think you may have seen this report in the New York Times. The lesson is when they are finding that the price of cocoa is so low, it's not sustainable, then they are going for this unsustainable mining practices. So we need to find a way so that we can make it doable with concessional finance. Without construction finance many of the mining practices, it will not work. One critical request would be, if possible, try to make local currency finance available for them. I think there's a huge demand and we really thank you for this kind of job. I think we need to work together because this is a problem of totality. We just cannot treat it in one place and leave the others. Thank you.

Thank you, Excellency. And now I give the floor to Mr. Lasour for your final statement.

Thank you so much. And if I could add one point on the question from the delegate, this MIT from Republic of Korea. Maybe you'll give me one more minute. Thank you so much. I wanted to add a point on trade in critical minerals. What we've looked at over dozens and dozens of trade agreements and for the provisions on critical minerals. And so two lessons I think that are interesting. One is that there's often not enough policy space left for industrial policy in polluter countries. That is changing. You see, in particular, Indonesia and a lot of countries in Southeast Asia have changed some of their trade terms of trade policies. But that could be done, I think, more broadly across the world. And the second lesson is that ESG language is often too weak, not binding enough, and could benefit from strengthening to make sure that operations in critical minerals are done according to the best environmental and social standards. And so, in closing, I would say that recent international commitments, including the Complemiso de Sevilla and the work of the Secretary General's panels on critical energy transient minerals, underscore the consensus around responsible trade, local value addition and shared benefits. And perhaps what I heard today from many delegates, including Zambia, Zimbabwe, Mexico, Peru, is that a lot of those efforts will be best realized at a regional level, where economies of scale can be realized, where countries can pool resources and develop joint strategies to create regional pools of exports in crude oils and downstream beneficiation. Thank you.

Thank you very much, Thomas, also for this final statement and also for trying to answer the question of our distinguished colleague from Republic of Korea. Excellencies, delegates, ladies and gentlemen, I think we have heard many interesting views and also some recommendation today on our topic. And I would like to thank to all the distinguished speakers, especially to make my role as Taiwan timekeeper very easy today. Thank you for that. I would just like to conclude by reaffirming that you can count on Unido as your partner as we navigate these challenging times. So our technical cooperation and industry policy advice. We will continue to support you, our member states, in your sustainable industrialization efforts and trade capacity building, and also in your efforts to mobilize greater private sector investment for development in the context of shrinking developing aid. And now I'm pleased to pass the floor Back to you, Mr. President, for the final remarks.

I thank Mr. Gunther Beger for expertly guiding the discussion. I also thank our distribution distinguished panelists for their substantive contribution and delegation, all delegations, for participating in a productive exchange of use. Distinguished delegates, that concludes this meeting. The forum will reconvene this afternoon at 3pm in this room to continue with its program of work. The meeting is adjourned.