Philippines Elected as Chairperson of Common Fund for Commodities Executive Board

Philippine Ambassador J. Eduardo Malaya

THE HAGUE 28 NOVEMBER 2023 – The Governing Council of the Common Fund for Commodities (CFC) confirmed the appointment of Ambassador J. Eduardo Malaya as Chairperson of the CFC Executive Board for the term 2024 during the organization’s 35th Annual Meeting of the Governing Council on 22 November 2023 in The Hague. 

Ambassador Malaya was earlier nominated for the position by the CFC Executive Board during its meeting in October 2023. 

In the Philippine national statement delivered during the meeting, Ambassador Malaya highlighted the Philippines’ proactive role in the CFC, since its establishment was taken up in the February 1976 UNCTAD Conference that was hosted by the Philippines.  “We recall that the Philippines was among the strongest advocates for the CFC when its establishment was being discussed. Through the so-called Manila Declaration, the developing and developed countries committed themselves to the establishment of the CFC,” the Ambassador said. 

“The mission of the CFC remains important and relevant today as commodity trade remains imbalanced, and challenges in commodities’ production and marketing continue to hamper millions of our people in the developing world from benefiting from the fruits of their labors. We should redouble efforts to enable the CFC to assist in the realization of the U.N.’s Sustainable Developments Goals,” the Ambassador added. 

The Philippines’ active engagement with the CFC is in line with the administration priorities. President Ferdinand Marcos Jr.  has accorded agriculture a position of utmost significance. The administration's key priorities for agriculture encompass optimizing farm operations and management, expanding production areas, elevating the productivity of agricultural commodities, and ensuring the provision of high-quality seeds to smallholder farmers.

Outgoing Chairperson of the CFC Governing Council Ambassador Eniola Ajayi of Nigeria welcomed Ambassador Malaya’s election as Executive Board’s Chairperson, stating that “as they say, a person can make a difference, and I assure this Governing Council that we will see a huge difference in the coming days... I am inspired by Ambassador Malaya’s passion, commitment and wise counsel.” 

At the Governing Council meeting, Ambassador Sheikh Mohammed Belal of Bangladesh was also elected for his second term as Managing Director of the CFC from 2024 to 2027, while Ambassador Margaret Shava of Kenya was elected as Chairperson of the CFC Governing Council for the term 2024. 

The CFC provides a range of financial and technical instruments in support of business activities contributing to sustainable development of the agri-commodity sectors in developing countries, thereby providing substantial impact on the livelihood of smallholder farmers and the economic prosperity of agricultural communities. 

Since 1993, the CFC has supported 11 agricultural projects in the Philippines, including the recent financing of the development project with Kennemer Foods International Inc., an agribusiness company based in Davao City specializing in growing, sourcing and trading fermented cacao beans (http://www.kennemerfoods.com/). Other projects involved were the development of commodities such as seaweeds, hard fibres, logs, meat, coconut, sugarcane, coir, abaca and cocowood.

Composed of 101 Member States, the CFC is an autonomous intergovernmental financial institution established within the framework of the United Nations. The Agreement Establishing the Common Fund for Commodities was negotiated in the United Nations Conference on Trade and Development (UNCTAD) from 1976 to 1980 and became effective in 1989 (https://www.common-fund.org/). END

Members of the CFC Constituency No. 8 – Republic of Korea, Bhutan and Thailand

Nigerian Ambassador Eniola Ajayi and Ambassador Sheikh Mohammed Belal

For more information, visit https://www.thehaguepe.dfa.gov.ph or  https://www.facebook.com/PHinTheNetherlands/.