CURRENT ECONOMIC CRISIS, SOCIAL ISSUES HIGH ON AGENDA OF ESCAP FIFTY-FOURTH ANNUAL SESSION, 16-22 APRIL

Press Release
REC/25

CURRENT ECONOMIC CRISIS, SOCIAL ISSUES HIGH ON AGENDA OF ESCAP FIFTY-FOURTH ANNUAL SESSION, 16-22 APRIL

BANGKOK, 10 April (UN Information Services) -- The region's current economic turmoil and its impact on social development will be among the vital issues to be discussed at the fifty-fourth annual session of the Economic and Social Commission for Asia and the Pacific (ESCAP), to be held here from 16 to 22 April.

Heads of governments, ministers and senior officials from 60 member and associate members of the Commission are expected to participate in this year's session. The ESCAP is the only region-wide forum in Asia and the Pacific which meets annually at the ministerial level.

The special theme topic for this year's session is "Asia and the Pacific into the twenty-first century: prospects for social development". The discussion will cover social development trends, and recommend programmes that governments can work on in close cooperation with non-governmental organizations and the private sector.

A special feature will be a panel discussion on the impact of the current financial crisis on social development and implications for regional cooperation strategies, to be held on Tuesday, 21 April. International experts on the issue are expected to speak.

The Commission meets against the backdrop of a slowdown in export growth, reduced foreign capital inflows into the region and unprecedented turmoil in the financial and currency markets of some of the region's economies. It will examine these issues and suggest policy responses required to ensure a more sound management of the external sector.

Also to be considered will be ESCAP reform and its role in relation to global bodies and other subregional and regional intergovernmental bodies in the promotion of economic and social development in the region.

The 1998 Economic and Social Survey of Asia and the Pacific, unveiled in Bangkok and other major capitals in the region on 8 April, serves as the main document for discussion at the forthcoming session of the Commission. (For information, see Press Release REC/24 of 8 April.)

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With regard to "growth with equity", the focus will be on major policies related to human resources development, agriculture, inflation control, population control, small- and medium-sized enterprises, target-oriented programmes and management of short-term crises.

Other topics to be considered include new developments which have an impact on the prospects for regional economic cooperation in trade and investment; the problems and underlying causes of the current "turbulence" in both the foreign exchange and capital markets; and the critical issue facing the region in sustaining industrial and technological development in the twenty-first century.

Environmental and natural resources development, socio-economic measures to alleviate poverty in rural and urban areas, transport, communications, tourism and infrastructure development, statistics and least developed, landlocked and island developing countries will also be discussed.

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