A new database focusing on trade in critical minerals has been launched by the Asian Development Bank and the World Trade Organization Secretariat, marking a significant milestone in global trade and sustainability efforts. This collaborative initiative is set to enhance transparency, promote trade efficiency, and support the clean energy transition by providing comprehensive insights into the critical minerals trade landscape.
The Trade in Critical Minerals database was unveiled at the Trade and Investment House event during the COP29 climate change conference in Baku. It brings together essential data on 250 critical minerals such as lithium, cobalt, and rare earth elements, which are vital for producing batteries, wind turbines, and electric vehicles. These minerals play a pivotal role in achieving renewable energy expansion and energy efficiency improvements.
This advanced tool enables users to analyze trade flows, visualize trade networks, and examine specialization patterns through interactive bar charts, tree maps, and network graphs. The database draws on resources from the World Trade Organization’s Analytical Databases and the ePing trade measures platform, offering detailed insights into tariffs and trade policies.
By fostering transparency and accessibility, this initiative will support policymakers, businesses, and stakeholders in building sustainable, inclusive, and resilient supply chains for critical minerals. Strengthened trade systems will enable countries to meet clean energy targets while fostering economic growth and global cooperation.
The launch of this database reflects the growing importance of collaboration in international trade to drive sustainability and innovation. It is expected to empower decision-makers with the tools to align trade strategies with environmental objectives, ensuring a balanced and thriving global trade ecosystem.
#ITCNewsUpdates #BreakingNews #TradeForSustainability #CleanEnergyTrade #GlobalTradeInsights #SustainableGrowth #CriticalMineralsTrade