EQD7004-Globalization and Development

By Professor Dr. Shankaran Nambiar

Summative Assessment

South-South Trade, Cooperation, and Barriers

Name: LINZHE DU
Metric Number: S2148639

FACULTY OF BUSINESS AND ECONOMICS

UNIVERSITY OF MALAYA
KUALA LUMPUR
01/July/2022

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Table of Contents

Cover Page ........................................................................................................................ 1

1. Portfolio… ................................................................................................................... 3

1.1 Establishment and Expansion of South-South Trade .............................................. 3

1.2 Opportunities and Challenges for South-South Trade ............................................ 6

1.3 South-South Global Value Chains .......................................................................... 8

References .................................................................................................................. 13

2. Reflections ................................................................................................................. 15

Source ........................................................................................................................ 19

3. Policy Brief… ............................................................................................................ 20

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1. Portfolio

1.1 Establishment and Expansion of South-South Trade

In the decades following World War II, developing countries typically adopted the

strategy of imposing tariff barriers or quotas on imports and then attempting to replace

them with domestic production, such as bicycles, household appliances, and so on. Such

import substitution policies were able to reap the benefits of mass production and low

costs, as South Korea and Taiwan had the options to not only produce for the domestic

market without duty boundaries or government subsidies but also export low-cost

manufactured merchandise to different areas of the world. Yet import substitution

policies have largely failed to enrich most people because capital-intensive industries

have little impact on employment and limit agricultural exports. On the other hand,

import-substitution policies tend to increase the South's dependence on imports of

intermediate and capital merchandise from the North, in this way restricting South-

South trade, so that more and more developing countries are considering export-

oriented economic policies. A more competitive world environment and changing

trade rules have reinforced the importance of industrial policy in the design of

developing countries' export strategies. Intra-industry trade is associated with the

economies of scale, and more and more developing countries move into

industrialization and access bigger worldwide business sectors, especially in some

newly industrializing countries in Southeast Asia, growing intra- industry

specialization will stimulate more South-South trade.

Economic occurs when a number of countries in the same region participate together

to form a regional trade bloc or economic union which imposes common

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tariffs on products from non-member nations, while opening up interior exchange

among member countries (Todaro & Smith, 2015). Without integration, the same

industry (e.g., textiles) may be established in neighboring countries, with each country

imposing higher tariffs or trade barriers to prevent imports from the other, and this

duplication leads to the waste of scarce resources, while consumers pay higher prices

for products. Economies of scale allow all member countries to accelerate the rate of

economic growth through specific allocations to other countries, creating the ultimate

alliance. The process of global integration at the end of the 20th century saw 15

organizations of South-South cooperation, mostly in Latin America and Africa, and

just one in Asia. Among them was the extension and development of participation with

the Association of Southeast Asian Nations (ASEAN). In 1994, Argentina, Brazil,

Uruguay and Paraguay formed a free trade area known as the Southern Cone Common

Market. The Andean Group was formed in 1995 by Colombia, Bolivia, Peru,

Venezuela, and Ecuador. The South African Development Community (SADC) was

formed by several developing countries. The South African Development Community

(SADC), formed by several developing countries in South Africa, has contributed to

the regional economic integration of Africa. At the political level, it has improved the

stability of these regions, and at the economic level, it has strengthened the bargaining

force of small open economies in global business sectors. As can be seen from Table

1, all the less developed regions of the world, which experienced faster economic

growth after 1980, have extended their openness to worldwide trade.

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 Table 1 The Sum of Imports and Exports as a GDP proportion in Chosen Districts
and Nations

Source: World Bank (2002).

Indeed, participation in global trade aims to bridge the hole among rich and poor

countries. Recent years have seen a surge in regional and reciprocal cooperation in

software improvement, particularly in e-learning. However, most technological

capabilities remain concentrated in India, China, and a couple of Southeast Asian

countries. As China and India are progressively involved in worldwide trade through

product diversification, technological upgrading, and extending trade capacities, there

is a profound impact on Low-Income Countries (LICs) through global economic

linkages or South-South trade (Das, 2012). From the Figure1, we can see that India and

China have strong exports in three labor-intensive areas of attire, shoes, and gadgets,

and these patterns of specialization are behind developing South-South trade along the

lines of comparative benefit, where resource-poor arising economies purchase raw

materials from asset-rich nations, India and China are vital sources of demand for

materials. Low-income countries, including Bangladesh and Vietnam, are also

gradually filling the trade gap.

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 Figure 1 Sector Trade Shares of GDP, China and India

Source: (Hanson, 2012)

Globalization requires countries to provide technology, quality, and other reliability

needs to achieve competitive production. Developing countries should go beyond

greater trade with each other and move toward economic integration.

1.2 Opportunities and Challenges for South-South Trade

While the globalization of the 19th century can be said to have made the present Proto-

Third World, the globalization of the late 20th century has consolidated the course of

underestimation of the Third World. The purpose of globalization is to benefit the

poor and backward countries of the world. Globalization in the 19th century cannot

help the countries of the South however just helped the Atlantic economies (countries

in North America and Northwest Europe) to move towards higher levels of income

(Murshed, 2004), while Latin America, Africa, and Asia (particularly India and

China) remained on the margins of globalization.

Hegemony in the context of globalization includes the imposition of Washington

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Consensus on developing countries in need of monetary help after the two oil crises

of 1980, with measures including unilateral trade liberalization and reduced spending

on social sectors. There is also protectionism in the North, especially against

agriculture and textiles, where the South has a competitive advantage and restrictions

on technology transfer to the South and the opening of the services sector. The World

Trade Organization (WTO) negotiations are also very exclusive of the South, only

partially removing the barriers of “excise taxes”, “export restrictions” and “health

regulations”. At the same time, Africa's welfare and inclusion indicators are

deteriorating, as reflected in declining incomes, stagnant literacy rates, and the AIDS

pandemic.

Financial and political collaboration among non-industrial countries in the South has

been viewed as a potential counter-hegemony. By 2003, fabricating represented more

than 66% of South-South product exports, and the share of technology-intensive

manufacturers in the South was increasing; as a matter of fact, five of the top ten

merchandise in South-South trade were high-tech manufacturers. 15% of global trade

was S-N trade, more than 50% was N-N trade, and 35% was S-N trade (Dahi &

Demir, 2008). The combined effect of trade redirection and trade creation, while

positive, is considered small (Greenaway & Milner, 1990). Despite the significant

development in south exchange, it is still considerably lower than the North-South

trade (S-N) and North-North trade (N-N). The portion of South-South trade in

total commodities exports of low-income and middle-income countries ranges from

24% to 32%, what’s more in sub-Saharan Africa, it is just 17% (Greenaway & Milner,

1990).

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The Protocol on Trade Negotiations among Developing Countries, enacted in 1973, can

be considered as a South-South Global System of Trade Preferences (GSTP), yet there

are also conflicting trade interests among developing countries due to differences in

their levels of development. Countries in the South are not a homogeneous or

comparable group. Contrasts in assets and per capita income are greater among low-

income countries than among industrial countries. Much South-South trade absorbs

real resources but falls far short of expectations. The General Agreement on Tariffs

and Trade (GATT) system has not been beneficial to develop countries and is often

only a regular forum. Trade obstacles influencing South-South trade stay a lot higher

than those influencing other trade: 11.1% on average, contrasted with 4.3% for North-

North trade (Kowalski & Shepherd, 2006). Furthermore, in addressing the

sustainability of South-South trade, the ability of the Malaysian and Indonesian

palm oil sectors to meet global Southern markets and new consumer demand, expand

smallholder participation, and establish more sustainable benchmarks are future

concerns with regard to South-South trade (Higgins & Richards, 2019).

1.3 South-South Global Value Chains

South Asia had greater success in the post-1980 globalization process. India is a

diversified manufacturing exporter in the region. India’s economic growth came from

bold experimentation, particularly in high-tech and IT, such as the software sector in

Bangalore. Bangladesh’s garment exports spurred trade growth and got Organization

for Economic Co-operation and Development (OECD) market access. Nepal also

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achieved greater success during the same period with the help of the Ministry of Foreign

Affairs.

Operating circumstances and low-income markets in southern economies (relatively

poor infrastructure, low wages, low skill levels, small business sectors, etc.) have

contributed to the advancement of proficient technologies fit operating conditions in

southern economies (Hanlin & Kaplinsky, 2016). Cases of technology diffusion in East

Africa include south-south trade in capital merchandise. In Tanzania, imports of rice

tillers from India and China are much more capital-intensive and have a less

environmental impact than similar products imported from Japan in earlier years.

Kenyan furniture is produced using machinery imported from China, which is more

labor-intensive and less capital costly than equipment imported from the north. The

garment industry is the dominant industry in Uganda, with women accounting for more

than 80% of employment in the sector, and the sewing machine infrastructure imported

from China is less dependent on small-scale operations that meet the needs of small-

scale producers. Table 2 shows that machines from the South are less costly than those

from the North, and although machines purchased from the South break down more

frequently, the cost of repair is relatively much less. The quality of equipment should

be combined with maintenance, repair, and modification, so machines from the South

are more efficient in terms of actual utilization and more labor-intensive than those

from the North, and equipment originating from the South is relatively widely available,

especially in the rural markets of East Africa. In addition, in terms of gender

comprehensiveness, low-cost sewing machines of Southern origin have increased the

participation of women. The rapidly growing

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share of trade in Chinese and Indian-made equipment in these three sectors reflects a

general trend in which Southern economies are rapidly penetrating African markets.

The shift from Northern to Southern providers is not simply a change in trade volume,

but also facilitates the spread of technology.

Table 2 Obtaining costs, lifespan, accessibility of spares and repair

Source: compiled from (Hanlin & Kaplinsky, 2016)

Participation in value chains in the global south has also created opportunities for

learning and exchange in developing countries, and the pharmaceutical industry in

Uganda has been upgraded at the formulation production stage by importing learning

from India. At the same time, the increased mobility of foreign investors to move

quickly to where wages or other production costs are lowest illustrates that effective

production requires the local capacity to complement the mobility factor. In the 1950s

and 1960s, three countries – Brazil, China, and Mexico - received 50% of the total

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Foreign Direct Investment (FDI) flows to developing countries (Murshed, 2004). The

portion of total global FDI now goes to developing countries more than to developed

countries (Horner, 2015). Unquestionably the quantity of skilled and taught laborers in a

developing country is a variable that impacts how much high-tech FDI a developing

country can draw in (Das, 2012). Among African countries, economic growth is slow

due to the absence of technological development and absorptive capacity and firms

producing low-end products. Investment and trade from the South positively affect

African economies, particularly in the services sector, more than in the North. Statistics

from Figure 2 on the geographical distribution of FDI in Africa illustrate the increasing

concentration of investment groups from the South.

Figure 2 Distribution of FDI (as a % of aggregate) by primary sectors in Africa

Source: (Amighini & Sanfilippo, 2014)

Political stability affects the diffusion of technology, and governments with a good

institutional environment will enhance integration through good governance and

facilitate trade flows. In the context of progressive economic integration, there is

significant scope for trade cooperation among developing countries. South-South trade

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reduces the South's reliance on the North, generates positive resource reallocation,

promotes the de-dollarization of trade payments, strengthens policy coordination, and

achieves stable economic growth.

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References

Amighini, A., & Sanfilippo, M. (2014). Impact of South-South FDI and Trade on the

Export Upgrading of African Economies. World Development, 64, 1–17.

https://doi.org/10.1016/j.worlddev.2014.05.021

Dahi, O. S., & Demir, F. (2008). South-South Trade in Manufactures: Current

Performance and Obstacles for Growth. Review of Radical Political

Economics, 40(3), 266–275. https://doi.org/10.1177/0486613408320007

Das, G. G. (2012). Globalization, socio-institutional factors, and North-South

knowledge diffusion: Role of India and China as Southern growth

progenitors. Technological Forecasting and Social Change, 79(4), 620–637.

https://doi.org/10.1016/j.techfore.2011.05.013

Greenaway, D., & Milner, C. (1990). SOUTH-SOUTH TRADE. The World Bank

Research Observer, 5(1), 47–68. https://doi.org/10.1093/wbro/5.1.47

Hanlin, R., & Kaplinsky, R. (2016). South-South Trade in Capital Goods – The

Market-Driven Diffusion of Appropriate Technology. The European Journal

of Development Research, 28(3), 361–378.

https://doi.org/10.1057/ejdr.2016.18

Hanson, G. H. (2012). The Rise of Middle Kingdoms: Emerging Economies in Global

Trade. Journal of Economic Perspectives, 26(2), 41–64.

https://doi.org/10.1257/jep.26.2.41

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Higgins, V., & Richards, C. (2019). Framing sustainability: Alternative standards

schemes for sustainable palm oil and South-South trade. Journal of Rural

Studies, 65, 126–134. https://doi.org/10.1016/j.jrurstud.2018.11.001

Horner, R. (2015). A New Economic Geography of Trade and Development?

Governing South-South Trade, Value Chains, and Production

Networks. Territory, Politics, Governance, 4(4), 400–420.

https://doi.org/10.1080/21622671.2015.1073614

Kowalski, P. and B. Shepherd (2006-10-16), “South-South Trade In Goods”, OECD

Trade Policy Papers, No. 40, OECD Publishing, Paris.

http://dx.doi.org/10.1787/314103237622

Murshed, S. M. (2004). Globalization and South Asia: A Perspective. South Asia

Economic Journal, 5(2), 311–326.

https://doi.org/10.1177/139156140400500208

Todaro, M. P., & Smith, S. C. (2015). Economic development (12th ed., pp. 595–687).

Pearson.

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2. Reflections

Despite the progress made through unilateral, multilateral liberalization, there is

significant potential for reform of trade policies, even tariff policies, in developing

countries. A number of facts have been established in the preceding literature: the

portion of South-South trade in worldwide exchange is expanding; economies in the

South are growing quicker than in the North; tariff barriers are declining in some

developing countries and manufacturing accounts for a significant portion of South-

South trade. In addition, the dissemination of technology has influenced the extension

of South-South trade to some extent. However, these studies do not provide a detailed

analysis of the various trade liberalization scenarios, do not indicate the extent to

which the role of geographical distance influenced the expansion of South-South trade,

and do not distinguish whether there is some correlation between the surge in South-

South trade and the decline in tariffs. Indeed, developing countries believe that by

joining the WTO they do not risk being marginalized, yet the WTO has continuously

imposed restrictions on developing countries' policies. As a result, developing

countries in the South have been seeking new development opportunities.

South-South trade has not necessarily reached its full potential, The Belt and Road

Initiative (BRI) also gives it a booster. For many developing country companies, the

neighboring markets offer immediate opportunities, and poor countries are looking to

other developing economies for greater trade and investment. Sanusha Naidu is a senior

fellow from the Institute for Global dialogue-based at the University of South Africa in

Pretoria, from her perspective, “the trade financing investment and how to bring these

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dynamics to the practical implementation of economic, and technical areas in the 21

century is still an important issue need to be considered”. For example, some

developing countries cannot promote infrastructure development to provide favorable

preconditions for bilateral and multilateral trade, such as reliable transport and

telecommunications links, as well as corresponding banking facilities.

Grace Wang Xiao Jun, Deputy Director of the United Nations Office for South-South

Cooperation (SSC), she indicates that “from the south angle, the neighboring country

that has a similar religious and cultural background to offer a source of inspiration.

Through S-S Trade, developing countries have been injected a strong sense of

confidence”. Besides, S-S Trade contributes to sharing the knowledge learned and

making public goods. One of the missions of the United Nations Conference on Trade

and Development (UNCTAD) is to promote cotton by-products, an entire project

worked with countries in eastern and southern Africa to build their capacity on cotton

by-products. And the partnership from India ensures the technology will be suited for a

similar context in Africa.

In “World Economic Forum Africa 2011”, certainly, we have seen trade between Africa

and Asia grow, but Africa’s contribution to the world is still less. There is a cumulative

effect that China and India have generated which is because heavily commodity-

intensive, so there is an external dynamic that is helping to spread the economic gains

to other parts of the world. South Africa has the potential to offer the minerals,

especially in a comprehensive strategic treaty signed with China, it has a policy of

beneficiation at sources, which also helps China to deal with environmental consents,

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So this kind of trade provides a win-win way. The Chinese government encourages

Chinese companies to work hand-in-hand with African companies to come into the

ventures, and also open the markets to commodities and products for each African

country, particularly the least developed African countries virtually almost all their

products are enjoying the free trade agreement. India’s top imports from Latin

America include sugar, and soybean oil, the top potential export of products of India

are automobiles, textiles, readymade garments, and accessories. as for food beverage

segments, including rice, soya bean, groundnuts frozen shrimps, and prawns. Exports

of juicy, red, and sweet Chilean cherries grow substantially from central to southern

Chile, the shipment of cherries will be going to the San Antonio port with several

thousand containers to China. The Global Value Chains start to move and the

opportunity for Africa is to reconstruct itself to takeadvantage of that potential.

Before the pandemic, over half of the world’s economic growth was contributed by S-

S Trade. However, the Covid-19 reduced and reverse this impressive trend, the trade

between developing countries has fallen faster on average. Export-dependent countries

in the south find it more challenging to bounce back from this global disruption. During

this period trading for electronics, IT, and pharmaceuticals increased. For example,

trade in Personal Protective Equipment (PPE) recorded growth in 2020.

In conclusion, to enhance and flourish S-S Trade, some mechanisms and investments

should be encouraged. The South has to deal with various barriers to agriculture,

manufacturing, and other sectors. In addition, the trade structure needs to be further

adjusted and improved by considering the development of products with high-income

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elasticity, which in turn will ensure the high growth of exports. Enhancing

competitiveness through technological upgrading and product replacement, and

promoting exchanges and cooperation among developing countries will help eliminate

trade barriers to a certain extent. Developing countries have a spirit of solidarity to

avoid future crises more equitably.

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Source

https://www.youtube.com/watch?v=qTabLadA-PA

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 POLICY
BRIEF

Promoting South-South Trade: Development and Options

BY LINZHE DU Brief No. 2 July 2022

Introduction Developing countries often referred to as

the “South”, have become a more export-
The 1955 conference in Bandung, Indonesia, oriented and increasingly important role in
brought together many of the newly independent the global economy in terms of worldwide
developing countries of Africa and Asia to GDP, trade, investment, and foreign
reduce their dependence on industrialized exchange. The growing economies of the
nations. From the Non-Aligned Movement in South have become less dependent on
the 1960s to the Group of 77 (G77) during a trade with developed countries (the
meeting of the United Nations Conference on “North”), and trade among Southern
Trade and Development (UNCTAD). The countries, also known as “South-South
United Nations Conference on Trade and trade”, has provided resources and support
Development (UNCTAD) is still considered an for the development of the South. With the
important international forum for discussing and expansion of its share in world trade and the
analyzing development models in a continuous impact of trade liberalization trends, the
attempt to reshape the international economic average portion of exports in GDP has
system. Since 2019, the global economy has grown from 16.7% in 1981 to around 30%
entered a period of slow growth, developing in 2012 (Table 1). From 1995 to 2012,
countries are becoming more interconnected, South-South trade increased by 677%,
and the positive role of some emerging while exports from the South to the rest of
economies in trade interactions, such as the world developed by 312%, and the
accelerated export diversification and strong portion of South-South trade in worldwide
performance in managing global economic trade has expanded significantly2.
turmoil has attracted increasing attention.

Table 1 Summary indicators of the moving geography of trade and income in the global economy

Source: UNCTAD stat.org

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Benefits and Trade Flows In addition, South-South exports
of South-South Trade achieved a gradual shift from low
skill/technology intensity (C) to high
Not only does the global manufacturing skill/technology intensity (D and E)
capacity of the South provide better and less (Figure 1).
expensive merchandise to customers in the There is a high degree of regional
North, but stronger economic growth in the specialization in the exports of southern
South has created many backward linkages countries. Africa imports a large number
across industries. Promoting South-South of manufactured products from Asia,
trade contributes to the sustainable ranging from textiles and clothing to
industrialization of Southern economies. electronics and automobiles. On the other
During 2009-2011, the share of Southern hand, almost 80% of Africa’s exports to
exports in world manufacturing exports was Asia are natural resources, including oil,
relatively high. In manufacturing industries gas, petrochemicals, etc. In contrast,
with high average skill/technology intensity about half of Africa's imports from the
(E), the share of South-South exports was Americas are in the agro-food sector
much higher than the average for all product (e.g., cooked foods, animal and plant
groups. products, fats and oils) (Figure2).
Figure 1 Change in the sectoral shares of south-south exports

A Agrifood and raw materials

B Resource-intensivemanufacturers (e.g. textiles and clothing)
C Manufactures with lowexpertise and innovation intensity
D Manufactures with medium expertise and innovation intensity
E Manufactures with high expertise and innovation intensity

Source: UNCTAD stat.org

Figure 2 Sectoral shares of South-South exports (2011)

Source: UNCTAD stat.org

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An increasing number of South-South Each country should utilize adaptable
Trade Agreement approaches tailored to its necessities to
improve growth and reduce poverty while
Developing countries in various regions have taking steps to liberalize its overall trade.
additionally settled their own regional To maximize the benefits, developing
economic coordination schemes, such as the countries ought to aim to adopt non-tariff
South Asian Free Trade Area (SAFTA), the measures to achieve trade facilitation.
Association of Southeast Asian Nations Free Broadening and deepening trade
Trade Area (ASEAN FTA), and the Asia- liberalization among southern countries can
Pacific Trade Agreement (APTA). In addition, be achieved through policies below:
interregional integration agreements like the
Asia-Africa Sub-Regional Organizations • Reform inter-regional trade regime
Conference (AASROC) and the India-Brazil- preference agreements to provide
South Africa (IBSA) are also being formed. In preferences for developing countries'
2017 and 2018, with the ratification of the São products, thereby promoting South-
Paulo Round Protocols by two Mercosur South trade on a global scale.
(Southern Common Market) member
countries, Uruguay and Argentina, the GSTP • Bilateral agreements between ASEAN
provides the main platform. and its trading partners do not prompt
regional incorporation, so further
High South-South Tariffs expansion and interlinking of ASEAN
FTAs promote capital and trade flows
Although Southern countries have reduced in the region.
their average tariffs on imports through trade
preference regimes, they are as yet higher than • The services sector is generally one of
those of developed countries. The average the most powerful areas in the South,
applied tariff rate was reduced from 12% to 4% and developing South-South trade in
in middle-income countries and from 29% to services can be a win-win situation as
8% in China1. There are two main reasons for it can help bridge capacity and skills
high tariffs; first, tariff negotiations started in gaps in certain areas.
developed countries before expanding to other
countries. Also, tariffs are still the main source • Strengthen trade and development
of government revenue in developing countries finance institutions in the South, where
today. Finally, it requires a long time for governments can increase risk-taking
developing countries to develop nascent capacity for exports by providing
industries and attract Foreign Direct Investment additional capital, or establish a new
(FDI). bank dedicated to investing in and
financing South-South trade to avoid
Policy Implications and Recommendations the lack of sources of finance available
for exports due to debt constraints. At
The growing share of markets in the South has the same time, it is vital to note that
been met with both optimism about the the establishment of such a bank
mutually advantageous nature of South-South would require adequate capital
collaboration and concern about the potential availability and staffing.
risks of South-South trade. Despite the rising
significance of globalization and South-South
trade, there are still many issues involved that
need to be addressed.

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• Promote cooperation among • Mainstream Least Developed
developing country banks, for Countries (LDCs) into south-south
example, some export-import banks trade is very important, and there
have adopted “bilateral payment is a need to provide internal
arrangements” initiatives as a way to investment, technology transfer, and
support the capacity of South-South assistance to LDCs in the South.
trade and investment flows, while Single rule management
enhancing interregional clearing. In rather than cumbersome
addition, the signing of a product rules through simple and
Memorandum of Understanding transparent unilateral preferential
(MOU) can create a formal network schemes offered by other developing
for sharing national and regional countries.
experiences and practices in trade and
project finance.

• The number of institutions in the

South-South trading system is now
sufficiently large, but their scope of
operations is also limited. Increased
cooperation among institutions could
be better addressed by holding regular
meetings and interactive forums to
better respond to new trends and
needs.

1. Hanson, G. H. (2012). The Rise of Middle Kingdoms:

Emerging Economies in Global Trade. Journal of
Economic Perspectives, 26(2), 41–64.
https://doi.org/10.1257/jep.26.2.41
2. Horner, R. (2015). A New Economic Geography of
Trade and Development? Governing South–South
Trade, Value Chains and Production
Networks. Territory, Politics, Governance, 4(4),
400–420.
https://doi.org/10.1080/21622671.2015.1073614

unctad.org [email protected] @UNCTAD

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