A new energy economy has emerged. Its trade and development implications for developing countries, including the least developed countries and Africa, are an important consideration.
| Global energy production and trade The last few years have been characterized by important challenges, including:
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Rapid growth in demand, diminishing spare oil production capacity and surging oil prices are among factors that have pushed energy issues back to the top of the policy agenda in many countries.
Developing country economies face the prospect of higher energy prices and will need to diversify their energy mix, in many cases by moving away from fossil fuels to alternative sources of energy. At the same time, access to reliable and reasonably-priced energy is an indispensable element for achieving poverty reduction and sustainable development.
Against this backdrop, the Expert Meeting will focus on the theme of "Adjusting to the new energy economy: Challenges and opportunities for developing countries."
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