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2. Commodity markets are still highly unstable Extreme price volatility Many commodity-dependent economies unable to participate effectively and diversify successfully. Commodity booms and busts caused in part by speculation disrupt the investment process There are structural mismatches between supply and demand. Risk management at a micro/local transactional level difficult to access and at high cost Smaller scale participants continue to face challenges of access to finance, logistics and other services in supply chains. Improvements in functioning of commodity markets and commodity policies are of importance for achieving sustainable production and consumption modes Issues to address

3. GCF: a multi-stakeholder approach History shows that attempts to address commodity problems only through inter- governmental negotiations is not enough Intervention has in the past created challenges GCF will be a neutral platform bringing together key stakeholders Only a dialogue between ALL stakeholders may enable moves towards an optimal balance between market practices and regulation.

4. The Structure of GCF The first GCF meeting focuses on extractive industries – oil, gas and metals markets Plenary and parallel sessions focus on market instability/price volatility, developing sustainable supply capacity and making commodities an “Ëngine for Growth” Plenaries tend to be policy focused and the parallel sessions are more market orientated Structure envisages GCF in future as not just a meeting event but also an information portal. We plan to develop a GCF eForum website to distribute UNCTAD analytical materials (issues for discussion, specialised journals and publications)

5. Who is coming to GCF? Governments: 7 government ministers have confirmed; Ecuador, Mali, UAE, Iraq, Switzerland, Qatar. More are expected. Heads of international agencies: OPEC, CFC, ACP Secretariat, IEA, WTO* Private sector – more than 40 banks including Deutsche Bank, HSBC, SMBC, BNP Representative organisations such as the Berne Union Commodity exchanges: CME, Dubai Mercantile Exchange, LME Academics & others More than 200 delegates registered

6. Reaching Stakeholders SUC outreach globally Email, dedicated registration platform Development of central online database for GCF/SUC

7. What will be achieved? Improving communications between key stakeholders Creating platform to regain consultation initiative on key commodity issues Improved information-sharing in and transparency Understanding volatility and risk issues from a management perspective Tackling the regulatory dilemma & dealing with volatility debate Improving information flows and measurement of the commodity economy Assessing mechanisms to better contribute to price discovery/transparency Improved supply and demand forecasts Combining supply and stock management

8. Thank you for your attention For further questions: rouben.indjikian@unctad.org daniel.day-robinson@unctad.org Special Unit on Commodities UNCTAD