South-South cooperation offers new opportunities for transforming African economies

, by AfricaFocus

A new study warns that trade and investment flows with the South are reinforcing a longstanding trend in which African countries export farm produce, minerals, ores, and crude oil, and import manufactured goods. It says this situation should be reversed while the South-South trend is still in its early stages. A repeat of the traditional pattern will not help African countries to reduce their traditional dependence on exports of commodities and low-value-added goods.

This AfricaFocus Bulletin contains a press release and excerpts from the study, released on June 18 by the United Nations Conference on Trade and Development (UNCTAD). The study documents increasing trade, investment, and aid flows to Africa not only from China but from other countries in Asia and Latin America. It stresses that the development opportunities presented could be lost unless there is more proactive planning by African countries and international organizations as well as Africa’s new partners. Read more