This study was prepared by Elissa Braunstein and Diksha Arora under the supervision of the Unit on Economic Cooperation and Integration among Developing Countries, Division on Globalization and Development Strategies, UNCTAD.

The study is part of the project on South–South integration and the Sustainable Development Goals: Enhancing structural transformation in key partner countries of the Belt and Road initiative.

UNCTAD serves as the implementing agency for this project that, within the context of the Belt and Road initiative and the economic interactions it entails, aims to build capacity in partner countries in the key policy areas of investment, industry, trade, finance and/or debt and technology.

The findings, interpretations and conclusions expressed herein are those of the author(s) and do not necessarily reflect the views of the United Nations or its officials or Member States.