TrilateralRelationsbetweenChina , theEUandLatinAmerica:LittleExperience , ButBigPotential 4 07 biregionalformsofcooperation , andtheyhaveproventheirinterestinshaping theworld.Recently , political , economicandfinancialrelationsbetweenChina andtheLatinAmericanCountries ( LAC ) havebeenconsiderablyreinforced. Theoutreachofallthreebeyondtheirimmediateneighbourhoodandthe advancesinSouthSouthrelationsandcooperation , beiteconomicorpolitical , arepromising basesfor moretrilateralcooperation.Valuableexperiencecan comefrom outreachprogrammesofthe OECD / DAC , the WorldBankand regionaldevelopmentbanks , orevenfromtheEUorcountryinitiatives , suchas thoseoftheUKandGermany.Dialogueonprogrammeorientedapproachesin thedonorcommunityshouldpreparetheterrainforconcretetrilateralprojects. Accordingtothe United NationsConferenceon Tradeand Development ( UNCTAD2008 , 2009 ), SouthSouthFDIhasreached12percentofglobal FDI , andthecorrespondingfigurefortradeis20percent.As UNCTAD Secretary GeneralSupachaiPanitchpakdipointedoutinhisspeechinearly February2009totheExpertMeetingonInternationalCooperation , SouthSouth Cooperation and Regional Integration: “ SouthSouth cooperation holds significantpotentialforincreasedtradeandinvestmentflows , therebysupporting industrializationandstrengtheningtheservicessector.Inrecentyears , the renewedinterestamongdevelopingcountriesinmutualcooperationhasledtoan increasingnumberofbilateralandregionalagreementsamongthemintheareas oftrade , investmentsandfinance , butalsohealth , educationandculture. ” Thistrendhasbeendrivenbythestronggrowthintradeflowsbetween developingcountries.Since1995 , SouthSouthtradehasgrownfasterthanany othertradeflows , averaging13percentperyear , comparedtotheglobal averagegrowthrateof9percent , and10percentfortradeamongdeveloped countries.Theamountinvaluetermsisequallyimpressive.Forexample , SouthSouthmerchandisetradein2007amountedtoUSD2.4trillion , or20per centof worldtrade.The1990salsosaw atakeoffin FDIflowsfrom transnationalcooperation ( TNC ) intheSouth , withtheshareofSouthSouth FDIintotalflowsgrowingfrom5percentinthe1990sto12percentin2006. But , astheSecretary Generalalsounderlined , SouthSouthisnotasimple substituteforNorthSouth ( UNCTAD2009 ) . SincethetraditionalNorthSouthcooperationiscomplementedbygreater SouthSouthcooperation , thisopensspacefortrilateralcooperation.Thetrends towardsamultipolarworldanddiversificationofrelationsaretwosidesofthe samecoin. “ Emerging ” donorsarebynomeansnewintheaidbusiness:China , theArabcountriesandtheEasternblochavebeenactiveoverthepast50years ,
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China, the EU and Latin America : current issues and future cooperation
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