United Nations - UN report urges commodity-dependent countries to diversify economies to survive climate crisis

UNITED NATIONS, Sep 12 (APP/DailyLife.PK):Climate change poses an “existential threat” to commodity-dependent developing countries, the United Nation’s trade chief has said, pointing to a newly released report highlighting the need to diversify economies and exports.

The UN Conference on Trade and Development (UNCTAD)’s Commodities and Development Report 2019, maintains that diversification could be either “horizontal”, meaning venturing into new goods and sectors to reduce dependence on a narrow range of commodities – or vertical, which involves increasing a commodity’s value.

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