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South-South cooperation key to building stronger states: UNCTAD

(Xinhua)

09:39, November 18, 2011

ADDIS ABABA, Nov. 17 (Xinhua) -- 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.

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