Latin America should strengthen its trade links with other nations in the South and reduce its dependence on the United States, Supachai Panitchpakdi, secretary general of the United Nations Conference on Trade and Development (UNCTAD) said on Monday.

"So that developing nations become less dependent (on the United States), and I recommend stronger South-South links," the UNCTAD chief told a conference, according to reports reaching here from Guatemala City.

Guatemala in particular should look to Asia, "where trade is healthier and one can hire third parties for service work at favorable terms," he said.

Countries in the region should create integrated markets which take full advantage of the free trade agreements some had signed with the United States, he said,

"These should not just be seen in terms of subsidies and tariffs, but also as laws and terms of trade," he added.

Panitchpakdi signed an memorandum of cooperation with Guatemala, offering support to the Economy Ministry's Business Information Center, where local business people can gain access to information on the UNCTAD's trade and investment projects.

Source: Xinhua