ESCAP CALLS FOR GREATER COOPERATION IN ASIA-PACIFIC REGION TO GUARD AGAINST MORE ECONOMIC TURMOIL
Press Release
REC/26
ESCAP CALLS FOR GREATER COOPERATION IN ASIA-PACIFIC REGION TO GUARD AGAINST MORE ECONOMIC TURMOIL
19980423 Fifty-Fourth Annual Session ConcludesBANGKOK, 22 April (UN Information Services) -- The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) called for greater regional economic cooperation to safeguard against more economic turmoil, as it concluded its fifty-fourth annual session here today.
It also emphasized that greater regional cooperation was needed to develop human resources so that countries could avoid "using people as cheap labour to fuel Asia's growth machine".
The seven-day session, with the theme topic "Asia and the Pacific into the twenty-first century: prospects for social development", brought together more than 400 delegates, including 25 ministers and deputy ministers from 45 members and associate members, and 16 observer countries, as well as representatives of United Nations bodies, specialized agencies, intergovernmental organizations and non-governmental organizations.
In its report, adopted unanimously, the Commission observed that although the worst of the economic crisis might be over, uncertainties still prevailed. Rebuilding investors' confidence was the most urgent task facing the most seriously affected economies. Several delegations said regional economic cooperation was an effective means of responding to the challenges and opportunities emerging from the intensifying process of globalization.
The Commission recommended policy options to prevent future recurrence of an economic crisis, which included the following:
-- At the national level: Establishing an appropriate exchange rate regime and overcoming the weakness of the domestic financial sector were of paramount importance to reduce the volatility of large movements of short-term capital. Emphasis was placed on transparency and prudent supervision and regulation.
-- At the regional level: The Commission called for the establishment of mechanisms for the exchange of information, an early warning system and comparative financing arrangements to supplement resources of the International Monetary Fund in time of need.
-- At the international level: A framework of surveillance and supervision similar to that available in the area of trade was needed.
Noting that the majority of the region's poor were living in rural areas, the Commission recommended direct programmes and policies targeted at the rural poor. The ESCAP should continue to act as a prime mover in regional cooperation and as a source of concrete assistance and guidance in rural poverty alleviation, particularly in the development of multidisciplinary strategies for national and regional action programmes.
Seeking to attain the vision of "a caring society for all", the Commission adopted the following five resolutions: strengthening regional support for persons with disabilities into the twenty-first century; mobilization of human and financial resources for further implementation of actions to achieve the population and development goals of the ESCAP region; promotion of the International Year of Older Persons (1999); Manila Declaration on accelerated implementation of the Agenda for Action on Social Development in the ESCAP region; and strengthening the role of the family in social development.
A resolution containing the Bangkok Declaration on strengthening regional cooperation for industrial and technological development in the Asia and Pacific region and the regional plan for industrial and technological development calls for concerted efforts in improving the prospects for inter- and intra-industry trade and investment-related technology transfer. It accords high priority to market-based industrial policies and programmes in achieving its objectives.
The Commission expressed concern that the increasing use of non-tariff measures was impairing greater market access. It called for the suppression of any upsurge in protectionism and urged the full implementation of the World Trade Organization (WTO) Plan of Action for the least developed countries.
The Commission noted that the implementation of the Asian land transport infrastructure development project with the active participation of 27 countries clearly demonstrated its practical importance in facilitating trade and tourism. It also asked ESCAP to give high priority to tourism, by expanding its professional staff in that area.
The Commission emphasized the urgent need for closer regional cooperation to address common sustainable development issues, including in strategic environmental planning, the implementation of Agenda 21 of the United Nations Conference on Environment and Development, follow-up of the global environmental conventions, the prevention of natural resources degradation and the promotion of strategic approaches to water resources management.
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On reform, the Commission emphasized the need to devise clearer objectives in secretariat activities and to set time-frames to achieve them. The regular monitoring and impact assessment capabilities need to be strengthened. Strong support was voiced for the mandate of ESCAP as the "team leader" for the United Nations system in the economic and social fields in Asia and the Pacific.
On operational activities, it was suggested that non-governmental organizations should be given greater opportunities to participate in the Commission's technical assistance projects.
Pacific island developing countries expressed their appreciation for assistance received through the ESCAP Pacific Operations Centre and requested more assistance in developing a subregional trade database, micro-finance schemes and addressing urban poverty issues.
With an eye on the millennium, the Committee urged members to demand guarantees from suppliers that all new software and equipment were year-2000 compliant.
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