The Common Fund for Commodities (CFC) is an intergovernmental

financial institution A financial institution, sometimes called a banking institution, is a business entity that provides service as an intermediary for different types of financial monetary transactions. Broadly speaking, there are three major types of financial ins ...

established within the framework of the

United Nations The United Nations (UN) is the Earth, global intergovernmental organization established by the signing of the Charter of the United Nations, UN Charter on 26 June 1945 with the stated purpose of maintaining international peace and internationa ...

. It is a vestige of the proposed New International Economic Order. The CFC finances commodity development projects in developing states. The CFC was established in 1989. It was set up by a 1980

multilateral treaty A multilateral treaty or multilateral agreement is a treaty to which two or more sovereign states are parties. Each party owes the same obligations to all other parties, except to the extent that they have stated reservation (law), reservations. Ex ...

known as the Agreement establishing the Common Fund for Commodities. As of June 2017, there are 110 parties to the Agreement and thus to the CFC. This total includes 101 UN member states plus 9 intergovernmental organizations: the

Andean Community The Andean Community (, CAN) is a free trade area with the objective of creating a customs union comprising the South American countries (Andean states) of Bolivia, Colombia, Ecuador, and Peru. The trade bloc was called the Andean Pact until 1 ...

, the

African Union The African Union (AU) is a continental union of 55 member states located on the continent of Africa. The AU was announced in the Sirte Declaration in Sirte, Libya, on 9 September 1999, calling for the establishment of the African Union. The b ...

, the

Caribbean Community The Caribbean Community (abbreviated as CARICOM or CC) is an intergovernmental organisation that is a Political association, political and economic union of 15 member states (14 nation-states and one dependency) and five associated members thro ...

, the

Common Market for Eastern and Southern Africa The Common Market for Eastern and Southern Africa (COMESA) is a regional economic community in Africa with twenty-one member states stretching from Tunisia to Eswatini. COMESA was formed in December 1994, replacing a Preferential Trade Area whi ...

, the East African Community, the

European Union The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in Europe. The u ...

, the Economic Community of West African States, the

Southern African Development Community The Southern African Development Community (SADC) is an inter-governmental organization headquartered in Gaborone, Botswana. Goals The SADC's goal is to further regional socio-economic cooperation and integration as well as political and se ...

and the West African Economic and Monetary Union. Members that have joined but then withdrawn from the CFC include

Australia Australia, officially the Commonwealth of Australia, is a country comprising mainland Australia, the mainland of the Australia (continent), Australian continent, the island of Tasmania and list of islands of Australia, numerous smaller isl ...

Austria Austria, formally the Republic of Austria, is a landlocked country in Central Europe, lying in the Eastern Alps. It is a federation of nine Federal states of Austria, states, of which the capital Vienna is the List of largest cities in Aust ...

Belgium Belgium, officially the Kingdom of Belgium, is a country in Northwestern Europe. Situated in a coastal lowland region known as the Low Countries, it is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeas ...

Canada Canada is a country in North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the world's List of coun ...

Japan Japan is an island country in East Asia. Located in the Pacific Ocean off the northeast coast of the Asia, Asian mainland, it is bordered on the west by the Sea of Japan and extends from the Sea of Okhotsk in the north to the East China Sea ...

Luxembourg Luxembourg, officially the Grand Duchy of Luxembourg, is a landlocked country in Western Europe. It is bordered by Belgium to the west and north, Germany to the east, and France on the south. Its capital and most populous city, Luxembour ...

New Zealand New Zealand () is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and List of islands of New Zealand, over 600 smaller islands. It is the List of isla ...

Turkey Turkey, officially the Republic of Türkiye, is a country mainly located in Anatolia in West Asia, with a relatively small part called East Thrace in Southeast Europe. It borders the Black Sea to the north; Georgia (country), Georgia, Armen ...

, and the Eurasian Economic Community. The

United States of America The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 states and a federal capital district, Washington, D.C. The 48 contiguo ...

has not been a member of the fund.

References

External links

Common Fund for Commodities
International trade organizations United Nations organizations based in Europe United Nations General Assembly observers Intergovernmental organizations established by treaty {{Netherlands-org-stub