ESCAP calls for Asia pacific economic growth
The annual session United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) has called for action from the governments to promote regional economic integration, trade and energy connectivity.
Speakers at the annual session, which concluded Wednesday in Bangkok, pointed out that these three areas as the keystones of a future of shared and sustainable regional growth in the face of daunting socio-economic and environmental challenges. They articulated on setting economic progress on a greener path.
“Together we will now transform these resolutions into bold action and profound results to bring about the much-needed transformation to a more inclusive and sustainable Asia-Pacific prosperity,” United Nations Under-Secretary-General and ESCAP Executive Secretary Dr. Noeleen Heyzer told the assembly of 49 countries.
The ESCAP session also adopted a milestone resolution on promoting regional energy connectivity. The unprecedented economic growth in the region in last few decades has sharply risen the demand for energy. The governments have not been able to meet the growing energy demands. The region has not the challenge to cope with energy shortage but also to address the need of over 20 million people who live under absolute poverty.
“A more integrated regional power system – effectively an Asian Energy Highway – could strengthen energy security, improve efficiency, and promote a greater share of renewables and clean energy for a more sustainable future,” Dr. Heyzer said.
The formation of ASEAN prompted faster economic growth in the region bringing down the poverty rate, increasing industrial growth and addressing unemployment rates. However, the South Asia still remains underdeveloped – economic growth has not triggered into the region. India’s singular ambition to become one of the powerful players in the global politics and business is being dragged down by poverty within and outside India, uncontrolled corruption, political instability, insurgency and illiteracy.