afrol News, 12 June - The Ivorian President has trumpeted the need for stronger South-to-South cooperation, describing it as "a privileged instrument for fostering and promoting strong commercial relations" between nations across the world.

President Laurent Gbagbo, who presided over a meeting involving G77 and China in Yamoussoukro, said the 12th Session of the Intergovernmental Follow-up and Coordination Committee on Economic Cooperation among developing countries was a powerful tool for stimulating economic growth in emerging countries in the South.

The meeting's aim is to promote South-South cooperation on economy and development among countries. The Ivorian President was moved by the South-South cooperation, saying the increase in total value of trade between countries in the South from US $577 billion in 1995 to US $2 trillion in 2006 clearly depicts that the cooperation is on the right footing.

He said for countries of the South to "build a world where development and prosperity become a reality for all," they need to strengthen solidarity among themselves, in particular, on diplomacy, economy, humanitarian work, and sustainable development.

President Gbagbo blamed the emerging food crisis characterised by soaring prices in the world on archaic economic models dating back to the 19th century. He said these models merely succeeded in creating "a culture of dependence on industrialized nations."

Gbagbo said solution to food crisis lies in the implementation of the Southern Fund for Development and Humanitarian Assistance and the establishment of a UN fund for the stabilization of staple foods.

Since its formation in 1964, the Yamoussoukro is the first G77 meeting to be held in a sub-Saharan country. Delegates from 130 member nations reviewing the implementation of the platform for the development of the South. They will also brainstorm on the operationalization of the Southern Fund for Development and Humanitarian Assistance agreed by the 2005 summit.

By staff writer

© afrol News

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