The Asian Development Bank (ADB) and the WTO Secretariat have introduced a new database aimed at enhancing transparency in the trade of critical minerals, which are vital for the clean energy transition.
This database provides comprehensive information on trade flows, visualizes trade networks and specialization patterns, and compiles data on tariffs and other trade policies for 250 critical minerals and related products across value chains.
Unveiled on 20 November at the Trade and Investment House during the COP29 climate change conference in Baku, the Trade in Critical Minerals (TiCM) database offers up-to-date data on critical minerals trade, associated policies, and visualizations of trade patterns from publicly available sources.
Bilateral trade and tariff data, sourced from WTO Analytical Databases at the HS sub-heading level, along with trade policies from the WTO Trade Monitoring Database and the ePing trade measures platform, are included. The data can be visualized using bar charts, tree maps, and network graphs, providing insights into main trading partners, product specialization, and trade networks.
Critical minerals such as lithium, cobalt, and rare earth elements are essential in producing batteries, wind turbines, and electric vehicles. These minerals play a crucial role in achieving goals such as tripling renewable energy capacity and doubling energy efficiency by 2030.
The joint initiative by ADB and the WTO Secretariat aims to enhance transparency in the trade and policies of critical minerals across value chains.
By doing so, it seeks to foster collaboration and support well-informed decision-making by policymakers and other stakeholders. This effort is expected to contribute to the development of sustainable, inclusive, and resilient critical minerals supply chains, facilitating the global transition to clean energy.
