South-South cooperation key to building stronger states: UNCTAD

South-South cooperation key to building stronger states: UNCTAD
South-South cooperation, in which China is the major pulling factor, is key to building stronger states, says the Least Developing Countries (LDC) Report 2011 by the United Nations Conference on Trade and Development (UNCTAD).

The LDC Report 2011 which is published under the theme, "The Potential Role of South-South Cooperation for Inclusive and Sustainable Development" was launched on Thursday at the UN Economic Commission for Africa (UN-ECA) here in Addis Ababa, Ethiopia.

The Report proposes the South-South cooperation a new type of developmental State for LDCs one that is more appropriate to the specific vulnerabilities and the structural constraints of LDCs.

Briefing journalist about the Report at the UN-ECA, Taffere Tesfaschew, Director of Division for Africa, LDCs, and Special Programs with UNCTAD, said China is the center of South-South cooperation.

He said China plays an important role in the cooperation.

The Director said the south-south cooperation is important not only for trade but also for financial flow and technology.

"South-South cooperation is particularly well-placed for supporting LDCs to build developmental state capabilities through three main channels including direct support to state capacity building, sharing policy lessons, and providing alternative sources of finance," says the Report.

"The experience of successful developing economies are particularly relevant for LDCs, especially in regard to their strategic type of integration into the global economy, the promotion of vibrant small and medium sized enterprises, the development of innovative schemes to address rural poverty, and to build a broader grown consensus," it says.

"The lessons from poverty reduction measures taken by some Southern development partners such as the role of China's Spark Initiative in generating rural non-farm employment within town and village enterprises, India's rural employment guarantee schemes, and Brazil's Bolsa Familia could be valuable for LDCs," adds the Report.

Speaking at the launch of the Report, Maxwell Mkwezalamba, African Union (AU) Commissioner, said the theme of the Report is timely, and the south-south cooperation is an attractive partnership for Africa, particularly for LDCs.

He said Africa's cooperation with southern developing countries has significant benefit for accelerated and sustainable growth on the continent.

The cooperation also creates opportunity for knowledge and technology transfer as well as infrastructural development in Africa.

The LDCs Report 2011 says policy lessons based on experiences from the more successful developing countries are helping LDCs to create new instruments and institutions to promote structural transformation, employment generation and poverty reduction.

The Report also notes that the dynamic Southern economies provide LDCs with development opportunities, but an adequate policy framework is needed to harness the potential of the emerging partnerships.

Editor: yan

English.news.cn   2011-11-18 05:18:03 FeedbackPrintRSS
ADDIS ABABA, Nov. 17 (Xinhua)