WTO, bank unveil database in minerals trade

The Asian Development Bank and the World Trade Organisation Secretariat have jointly launched the Trade in Critical Minerals database to enhance transparency in the trade of critical minerals crucial for the clean energy transition. Unveiled on November 20 at the COP29 climate change conference in Baku, the TiCM database provides policymakers, researchers, and stakeholders with critical insights into trade flows, tariffs, and policies related to 250 essential minerals and their value chains.

This new resource addresses the increasing global demand for minerals like lithium, cobalt, and rare earth elements, which are pivotal in manufacturing batteries, wind turbines, and electric vehicles. These minerals play a vital role in achieving key climate goals, including tripling renewable energy capacity and doubling energy efficiency by 2030.

The TiCM database compiles information from publicly available sources, including the WTO Analytical Databases, Trade Monitoring Database, and ePing trade measures platform. Users can access data visualisations such as bar charts, tree maps, and network graphs to analyse trade networks, specialisation patterns, and trading partner dynamics.

“Critical minerals are at the heart of the clean energy transition,” said an ADB spokesperson. “The TiCM database is a step towards building sustainable and resilient supply chains.”

The initiative aims to foster global collaboration, ensuring well-informed decision-making and bolstering the development of inclusive, sustainable critical mineral markets.

It also highlights the significance of transparent trade policies to overcome bottlenecks and ensure equitable access to these indispensable resources.

By bridging data gaps, the TiCM database is expected to serve as a vital tool for governments, industries, and international organisations in navigating the complexities of critical minerals trade. Its launch underscores the commitment of ADB and the WTO Secretariat to supporting a greener, more sustainable future.