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Supachai Panitchpakdi, Secretary-General, UNCTAD |
TheUnited Nations Conference on Trade and Development (UNCTAD) has launched its 2010 Economic Development in Africa report at a seminar on Fostering China-Africa Cooperation for Equitable Development at the United Nations Pavilion.
The report argues that Africa should take measures to ensure economic exchanges with developing countries, including China, to promote the diversification of its economy.
The global financial crisis has had a considerable impact on the growth prospects of advanced economies. The crisis has also highlighted the importance of economic relations of African and other developing countries.
The report, subtitled "South-South Cooperation: Africa and the New Forms of Development Partnership", shows that since 2000, the number and type of African and South cooperation agreements has increased substantially. Trade, investment and official aid flows are important vectors of new partnerships, in which trade occupies a pivotal position. It argues that these partnerships should complement, rather than replace, more traditional partnerships.
Data show that between 2002 and 2007, 54 percent of China's aid to Africa was invested in infrastructure projects. In terms of scale, China is becoming the most important source of bilateral assistance to Africa's infrastructure and productive sectors.
Mr. Supachai Panitchpakdi, Secretary-General of UNCTAD said: "South-South cooperation provides new opportunities for African economies in transition. In keeping with this new trend, we aim to ensure that Africa and large developing countries, including China, India and Brazil, increase their economic exchanges to promote economic diversification, while allowing more African countries to participate in cooperation with China." |
