The new partnership aims to advance research, policy dialogue and capacity development support on economic transformation. The MoU is being signed at a time when the 19th Session of the General Assembly High-level Committee on South-South Cooperation is meeting at the United Nations headquarters to review progress in scaling-up global support to South-South cooperation.
“Sustained economic growth, the foundation for reducing poverty and converging to high income, is now understood to be the result of incessant structural change through continued technological innovation and industrial upgrading and diversification,” said Mr. Tegegnework Gettu, Associate Administrator of UNDP, highlighting the importance of structural economic transformation, especially for African countries in order to build on their current progress.
At the event, the Global Research Consortium on Economic Structural Transformation (GReCEST) was also launched. Organised jointly by the Africa Center for Economic Transformation (ACET) and the International Food Policy Research Institute (IFPRI), this Global Research Consortium is one pillar of the Global Coalition of Think Tank Networks for SSC (GTTN) supported by UNDP and the United Nations Office for South-South Cooperation. This coalition of think tank networks will help to advance the research agenda on economic structural transformation, among other priority subjects in South-South cooperation, by connecting existing think tank networks and centres of excellence from developing countries. It is expected that the think tank networks will share knowledge, pool expertise and exchange Southern perspectives with Northern partners, to advance thought leadership on South-South cooperation.