Shanghai launches global exchange system
(Xinhua)
Updated: 2006-05-18 14:09
Global assets and technology exchange system for the south (GATES) was
launched in Shanghai Wednesday, with an aim to provide a virtual and
physical global marketplace for asset and technology exchange among developing
countries.
The GATES platform was approved by the South-South Cooperation Bureau of the
United Nations Development Programme (UNDP) last year.
The main objective of the GATES platform is to assist developing nations in
identifying and exchanging valuable technology, intellectual properties and
business solutions through the establishment of a viable virtual common market.
The platform will also help forge South-South partnerships efficiently in
economic and social development.
The specific goals of the GATES project include the establishment of an
online platform for the Global South Technology and Asset Common Market,
security of assets and technology and building the Global South Base for
Innovation and Venture Capital, an innovation and creativity hub that will serve
as a center to enhance private sector capital development in developing
countries.
"At a time of increasing trends toward globalization, optimizing
technological innovation and South-South capital flows constitute key
development strategies for improving economic growth in the developing world,"
said Zhou Yiping, head of the UNDP South-South Cooperation Bureau.
Moreover, Zhou said, "The GATES platform will help developing countries
acquire capital, technology and other resources for
development."
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