Deputy Minister Zuko Godlimpi addresses World Trade Organisation Public Forum

The dependence of African nations on mineral commodities has left many of them vulnerable to external shocks in the global economy, especially during the times of economic uncertainty.

This view was expressed by the Deputy Minister of Trade, Industry and Competition, Mr Zuko Godlimpi. He was addressing a session on Critical Minerals, Green Transition and Africa's Industrial Development Pathways, that was hosted by the Africa Group at the World Trade Organisation Public Forum in Geneva, Switzerland this afternoon.

Godlimpi said the African continent had an opportunity to build industrial capabilities on the back of critical raw materials. He added that as the green transition accelerates, critical minerals were becoming central to global development strategies.

However, he cautioned that dependence on the minerals made African countries vulnerable to external shocks that impact their economies negatively.

"When prices fluctuate, African economies face the risk of capital flight, fiscal imbalances, and even recession. The cycle of dependency has often resulted in dwindling revenues, increased debt, inflation, and worsening poverty," noted Godlimpi.

"Moreover, we must confront the critical issue of sustainability - what happens when these precious resources are exhausted? We cannot afford to repeat the mistakes of the past. Many African countries are already grappling with price volatility and the end-of-lifecycle challenges for their mines, with little to no sustainability efforts in place," he added.

He pointed out that the current global trade dynamics that leave African countries at the bottom of the value chain - exporting raw materials while importing finished goods, must change.

"The world must work alongside African nations to harness these critical minerals for structural transformation, industrialisation, and long-term sustainability. The WTO must help the developing world to improve living standards, create jobs, and ensure a growing share of income from global trade," stressed Godlimpi.

The theme of this year's WTO Public Forum, which coincides with the WTO's 30th anniversary, is "Re-globalisation: Better Trade for a Better World". In line with the theme, this year's forum is exploring how re-globalisation can help make trade more inclusive and ensure that its benefits reach more people.

Since his arrival in Geneva yesterday, Godlimpi has taken full advantage of a convergence of diverse stakeholders, including government policy makers, international organisations, business community, academia, parliamentary representatives, and civil society. He has held a series of bilateral meetings with influential leaders, including the WTO Director-General, Dr Ngozi Okonko-Iweala, and the Secretary-General of the United Nations Conference on Trade and Development (UNCTAD), Ms Rebeca Grynspan.

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