Global trade body WTO has showered accolades on China’s policies enhancing South-South collaboration, with Director-General Ngozi Okonjo-Iweala calling it a powerhouse for international trade acceleration. At the March 6 Geneva forum—the eighth ‘China Project’ on LDCs and South-South development—she rallied support from key diplomats.
Joining her were ambassadors from China, South Africa, India, and reps from 60 LDCs, all endorsing China’s WTO-aligned initiatives that promote unity among the Global South and link poorest nations to world trade flows.
Despite headwinds, South-South exchanges dominate: over 50% of developing-world exports stay within the bloc, ballooning from 10% in 1995 to 25% now, Okonjo-Iweala stated.
China-Africa trade rocketed past $2.9 trillion last year, with investments at $42 billion, evolving via BRI from roads and ports to health services, food industries, education systems, water management, and sustainable power.
In his address, China’s WTO Permanent Representative Li Yongjie decried unilateralism plaguing multilateralism. Beijing advances worldwide development drives, governance reforms, and WTO revitalization while helping LDCs build trade prowess through open markets, robust investments, and effective bilateral-multilateral synergies for lasting South-South gains.