REGIONAL> Development
China hosts 2009 Round Table Meeting on Commodity Development
By Zhu Yanting (China Daily Guangxi Bureau)
Updated: 2009-08-17 18:15

The Common Fund for Commodities (CFC), an international financial institution established by the United Nations, will be holding its annual Round Table Meeting (RTM) on Commodity Development from August 17-20 in Nanning, Guangxi Zhuang autonomous region.

"It's a great privilege to have this year's RTM in China," said Zhu Hong, deputy director general of the International Department of the Chinese Ministry of Commerce. "We hope that hosting this roundtable in Nanning will contribute to the establishment of a platform, whereby countries in Asia can discuss commodity related issues of common concern."

It's the first time the CFC has held such a meeting in Asia, which will focus on general commodity-related problems and assess the constraints commodity producers are facing in the region. Practical solutions to individual commodities problems and suggestions for supportive measures by the Fund will be discussed and evaluated in small working group sessions at the meeting.

"As the largest developing country in the world, China plays an important role in helping developing countries to address the current global financial crisis," said Ali Mchumo, CFC managing director. "I believe the RTM held in Nanning will be equally successful."

As the host city of CAEXPO, a State-level international fair in cooperation with CAFTA, Nanning was proposed by the Ministry of Commerce to host the three-day meeting.

The Amsterdam-based CFC’s specific mandates are to support commodity-dependent developing countries to improve and diversify commodities production and trade. In the Asia-Pacific region, the Common Fund has financed nearly 70 commodity projects so far with a total commitment of $170 million in various sectors, including jute, tea, coffee, cocoa, sorghum, etc..

"The CFC Round Table Meeting and the CAEXPO will beyond a doubt reinforce friendly win-win cooperation of all countries in Asia," said Zheng Junjian, Secretary-General of the secretariat for CAEXPO.