Ecuador envoy calls for improved South-South cooperation

February 14th, 2011 - 8:00 pm ICT by IANS  

Kolkata, Feb 14 (IANS) Ecuador’s Ambassador to India Carlos Abad Monday said a strong South-South cooperation was the only way forward in the wake of global meltdown.Speaking at a conference on India-Ecuador trade relations, the ambassador said: “The developing countries have recovered remarkably from the global crisis of 2008. But our traditional markets — the United States of America (USA) and the European Union (EU) — continue to be in economic turmoil. In this context, the only way forward is an improved South-South cooperation.”

‘South-South Cooperation’ is a term historically used by policymakers to describe the exchange of resources, technology, and knowledge between developing countries, also known as the countries of the global South.

Abad felt that there was a need for exchange of mutual cultural and business missions to strengthen bilateral ties.

“We have been supporting India’s claim for a permanent seat in the United Nations Security Council (UNSC). I feel India needs to walk an extra mile. The country must send business and cultural delegates to Ecuador and other Latin American countries more frequently,” he said.

“Amidst China’s audacious and aggressive business strategies in the Latin American countries, India needs to improve her trade relations with us. India needs to have free trade agreements (FTAs) with Latin American countries,” the ambassador said.

Abad also proposed to start on pilot basis a project of developing textile from banana fibre with India’s cooperation.

“India is a leader in jute producing and has advanced know-how on textileds. With India’s cooperation we can produce textile from banana fibres,” he said.

Abad urged India to invest in Ecuador, especially in fields of power and oil exploration.

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