UNDP Launches Innovative South South Program
PROMETRA International Presents Business Prospectus
Hundreds of participants from North and South America, Asia, Europe and Africa gathered in Shanghai, China to witness the launch of the Global Assets and Technology Exchange System (GATES). Outlining a new way of thinking and operating the GATES 2006 Summit -- Global South Innovation and Capital Market Summit and Expo – announced the establishment of a common market open to all countries willing to share technology that is the most suitable for meeting the needs of developing countries. This new initiative will facilitate the exchange of assets, technology and intellectual property and match project and other needs with capital and other resources to benefit developing countries. This new vision will markedly change UNDP’s involvement with the developing South – supporting and facilitating business ventures, development opportunities and involving the countries and projects as full partners – participants will no longer be just the receiptant of donor funds.
The 2006 GATES Summit was sponsored by the UNDP Technical Unit for South South Cooperation (TU/SSC) under the leadership of its Director, Yipping Zhou, UN Conference on Trade and Development (UNCTAD), UN Industrial Development Organization (UNIDO), International Technology Institute (ITI), World Bank/International Finance Corporation (WB/IFC), the Group of 77 and the Peoples Republic of China.
PROMETRA International was invited by the UNDP Technical Unit for South South Cooperation (TU/SSC) to participate in the GATES 2006 Summit and to make a presentation on its history, current activities and its organizational growth to develop a for profit arm to assure the organization’s long term viability. UNDP’s TU/SSC currently supports PROMETRA’s public policy and education project, “Promoting the Use of Traditional Medicine into the National Health Care Systems of Africa” which recently released its final report on international best practices. During the Shanghai meeting PROMETRA International presented its business plan for Medicines and Traditions of Africa (METRAF) which includes a nutritional food additive manufacturing factory, invitations for licensure of its approved herbal medicine patents and an health educational FM Radio Station. PROMETRA’s projects and business partner requests were listed on the demonstrative GATES fair exchange center –a virtual marketplace for buyers and sellers who are working in the arena of development. Eventually when fully developed GATES will become the NASDAQ for the developing south.
If successful, the GATES System will open up new ways of securing venture capital, instituting meaningful business partnerships and increased technical assistance for nations and organizations throughout Africa and the developing South. This innovative program will change the way that development aid and support is utilized. As an African international organization with a for profit arm, PROMETRA International applauds Yipping Zhou and the entire staff of TU/SSC for their vision in instituting this new way of thinking and developing the GATES System. We recommend our readers to visit the web pages of GATES System (http://www.gatesummit.com) and Technonet Africa (www.technonetafrica.com ) to learn more about these innovative developments and ways to participate.