What Was The Triangular Trade

Wednesday, October 27, 2021 1:37:57 AM

What Was The Triangular Trade

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The Triangular Trade and the Middle Passage

The plantation owners in the European colonies in America required slave laborers from Africa, the European industries needed raw material, which was produced in the New World colonies, and the African merchants wanted manufactured goods from Europe, which had a decent market share in Africa. The Trade ensured that all these requirements were met and helped maintain the balance. Eventually, the role of Europe in the Triangular Trade was taken over by developing region of New England, as the merchants there started to produce finished goods from the raw material readily available in the New World. These goods were exported to Africa in lieu of slaves required at the plantations and also circulated within the New World itself.

Everything was going on in a smooth manner until the beginning of the 19th century, when Great Britain outlawed slave trade. The United States followed in the following year and thus, came to an end the age-old practice of slave trade. The British naval forces were ordered to monitor the Triangular Trade routes in order to curb this illegal practice. Skip to primary navigation Skip to main content Skip to primary sidebar Skip to footer Triangular Trade One of the most notorious concepts in the history of the world, the Triangular Trade played an important role in the incessant spread of slavery in the New World.

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These cookies do not store any personal information. Non-necessary Non-necessary. Adel Abdellatif. Implementation is governed by each entity individually, based on its own mandate and programme of work. It is an opportunity for the Office to catalyze the use of South-South and triangular cooperation to accelerate the speed and scale of action towards achieving the SDGs. For example, the Office aims to offer a platform whereby: i countries of the Global South can exchange knowledge, develop capacities, and transfer technologies to address their own development priorities as well as coordinate and co-design solutions to shared development challenges; ii UN agencies, programs, and funds can strengthen their support to SSTC at the global, regional and country levels.

No country is too poor to contribute to South-South cooperation for development, and no country is too rich to lean from the South. All partners have important elements to contribute. So, it follows that triangular cooperation is an important element of our work. The pandemic has also highlighted the importance of the digital revolution. Building institutional capacity in sub-Saharan Africa and LDCs through South-South and triangular cooperation is essential for countries to fully harness digital transformation and recovery.

Triangular cooperation demands horizontality and shared governance approved by all parties. It is based on a clear respect for national sovereignty and the seeking of mutual benefit in equal partnerships. Recovery from pandemic requires additional support, innovative development solutions and arrangements between public and private sectors. We must facilitate opportunities to expand development cooperation and its processes and to improve the effectiveness of multilateral cooperation. Fostering multi-dimensionality and multi-stakeholders approaches is the way forward to enhance development impact. During the June HLC Member States highlighted that in the COVID and post-COVID era, the below priority areas for triangular cooperation could be considered: 1 health, 2 data infrastructure, 3 manufacturing capacity and supply chain for relevant medical material and equipment, as well as treatment; 4 solar energy and reducing carbon footprint; 5 a coalition for disaster resilient initiatives; and 6 currency swap arrangements from international financial institutions.

Adel Abdellatif is the Director, a. All rights reserved.

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