Visit of Ambassador of Kazakhstan to the Common Fund for Commodities to Discuss Sustainable Commodity Finance and Development Cooperation
Amsterdam, 15 July 2026 – H.E. Mr. Sheikh Mohammed Belal, Managing Director of the Common Fund for Commodities (CFC), welcomed H.E. Mr. Akan Rakhmetullin, Ambassador of the Republic of Kazakhstan to the Kingdom of the Netherlands, to the CFC Headquarters in Amsterdam for discussions on sustainable commodity finance, value addition and development cooperation. Ambassador Belal was joined by Ms. Zahra Kahla, Research and Data Assistant at the CFC.
The visit provided an opportunity for Ambassador Rakhmetullin to gain a deeper understanding of the CFC's mandate, financing instruments and development partnerships, as well as the Fund's support for smallholder farmers, cooperatives and small and medium-sized enterprises (SMEs) across commodity-dependent developing countries. The discussions also explored how the CFC's development finance model could complement Kazakhstan's own priorities for sustainable economic diversification, value addition and inclusive growth.
The meeting provided an opportunity for a constructive exchange of views on the persistent structural challenges confronting commodity-dependent economies, with particular emphasis on the disproportionately low incomes earned by smallholder farmers despite their indispensable contribution to global commodity supply chains.
Discussions focused on the critical financing gap affecting the so-called "missing middle"—small and medium-sized enterprises (SMEs) that are frequently underserved by existing financial markets, being too large for microfinance institutions yet too small or perceived as too high-risk for conventional commercial lenders. The CFC highlighted its efforts to address this financing gap by providing patient capital and innovative financial solutions that enable SMEs to expand production, create employment, enhance value addition and improve the livelihoods of commodity-dependent communities.
The discussion further highlighted Kazakhstan's significant potential for economic diversification, including opportunities in the development of nutraceutical value chains, sustainable agriculture, critical minerals and the responsible utilization of its abundant natural resources. As one of the world's largest landlocked countries and a respected advocate for the interests of Landlocked Developing Countries (LLDCs), including the sixteen Landlocked Least Developed Countries (LLLDCs), Kazakhstan reaffirmed the importance of ensuring that the unique challenges and opportunities facing these countries remain prominently reflected in the international development agenda.
Ambassador Rakhmetullin stated:
"Kazakhstan attaches great importance to promoting sustainable economic development through diversification, value addition and stronger international partnerships. As a country endowed with abundant natural resources and committed to advancing the interests of landlocked developing countries, we see considerable scope for cooperation with the Common Fund for Commodities in promoting sustainable commodity development, innovation and inclusive growth. Today's discussions have provided a valuable opportunity to better understand the CFC's work and the important role it plays in supporting commodity-dependent economies. We look forward to continuing this dialogue and exploring areas of mutual interest."
Ambassador Belal welcomed Kazakhstan's growing leadership on sustainable development and commodity-based economic transformation, noting that the country's extensive experience in agriculture, mining and strategic minerals positions it as a natural partner in advancing more resilient, inclusive and value-driven commodity sectors.
He emphasized that the CFC's work extends beyond providing finance by helping commodity-producing countries capture greater value from their natural resources through processing, innovation, technology adoption and stronger participation in global value chains. He also briefed Ambassador Rakhmetullin on the CFC's ongoing efforts to promote a more people-centred approach to global trade through its Humanizing the Value Chains initiative, which seeks to ensure that a greater share of value created along commodity value chains reaches producers and local communities.
Ambassador Belal expressed his sincere appreciation to Ambassador Rakhmetullin for taking the time to visit the CFC and for the open and productive dialogue despite his demanding schedule. Ambassador Rakhmetullin thanked Ambassador Belal for the warm welcome and the insightful exchange of views, and welcomed the opportunity to continue discussions on areas of mutual interest in support of sustainable development, innovation and international economic cooperation.
The meeting concluded with both Ambassadors reaffirming their commitment to maintaining close contact and to exploring avenues for closer engagement between Kazakhstan and the Common Fund for Commodities. Both sides expressed interest in continuing exchanges on how the CFC's experience in sustainable commodity finance, SME development and value addition could contribute to Kazakhstan's development priorities while supporting broader international efforts to build more resilient, inclusive and sustainable commodity value chains.