Commodities A/RES/74/204 on a lasting basis for all least developed countries, consistent with the Hong Kong Ministerial Declaration adopted by the World Trade Organization in 2005; 20. Strongly encourages international financial institutions and development banks to assist developing countries, in particular commodity-dependent developing countries, in managing the effects of commodity price volatility, including excessive volatility; 21. Reaffirms that every State has and shall freely exercise full permanent sovereignty over all its wealth, natural resources and economic activities; 22. Recognizes the importance of increasing efficiency, effectiveness and transparency in the management of public and private sector revenues in developed and developing countries derived from all commodities and commodities-related industries, including final processed goods, in support of development; 23. Notes the important contributions of the Common Fund for Commodities and other international commodities organizations, and encourages them, in cooperation with the International Trade Centre, the United Nations Conference on Trade and Development, the United Nations Industrial Development Organizat ion and other relevant bodies, to strengthen coordination among them and to identify and implement innovative measures to enable the sustainable contribution of the commodity sector to economic development, including ways to reduce vulnerability to volatility in commodity prices, as well as to enhance activities in developing countries to improve access to markets and the reliability of supply, enhance diversification and the addition of value, improve the competitiveness of commodities, strengthen the market chain, improve market structures, broaden the export base and ensure the effective participation of all stakeholders, on the basis of a shared understanding of the contribution of commodities to sustainable development; 24. Stresses that the United Nations Conference on Trade and Development and its partners, in the spirit of inter-agency cooperation and multi-stakeholder partnerships, within their respective mandates, should continue to engage actively in collaborative research and analysis of the commodity problematique and related capacity- and consensus-building activities, with a view to providing regular analysis and policy advice relevant to the sustainable development of commodity-dependent developing countries, particularly low-income countries; 25. Looks forward to the convening of the fifteenth session of the United Nations Conference on Trade and Development in Barbados from 18 to 23 October 2020; 26. Emphasizes the importance of facilitating accession to the World Trade Organization, particularly for commodity-dependent developing countries, in full compliance with its rules; 27. Underlines the urgent need for the provision of and access to trade finance to commodity-dependent developing countries, given the tightened access to all types of credit and noting debt sustainability; 28. Welcomes the commitment to redouble efforts to substantially reduce illicit financial flows by 2030, with a view to eventually eliminating them; 29. Stresses that revenues from commodity production and exports remain critical for developing countries, in particular in the context of the implementation of the 2030 Agenda, given that developing countries need to mobilize resources in order to achieve the Sustainable Development Goals and that commodity prices have been decreasing since 2011, which has put pressure on government budgets in developing countries; 19-22417 7/8