Discovering Asia/Pacific? Sustainable Growth Potential
Discovering Asia/Pacific? Sustainable Growth Potential
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  • 승인 2005.05.01 12:01
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Last year, developing Asian countries recorded a growth rate of 7.3 percent, the highest since the 7 financial crisis. But still there are various risks looming ahead, including economic uncertainties, natural disasters and communicable diseases. Against this backdrop, Deputy Prime Minister and Minister of Finance and Economy Han Duck-Soo has proposed a blueprint for Asia and the Pacific to ensure its sustainable growth at the 38th ADB (Asian Development Bank) annual meeting, held in Istanbul, Turkey on May 4-5. The Deputy Prime Minister first of all proposed that Asia Pacific be shaped via sustainable growth policies and that the region discover its ustainable growth potential He pointed out that MDGs (Millennial Development Goals) are the most important and pressing issue for all of us. Despite its recent high economic growth, Asia is still home to more than half of the world poor and one out of every four Asians live on less than a dollar a day. This sober reality requires all of us to redouble our efforts in pursuing ro-poor Economic Growth. Having said this, Deputy Prime Minister Han told the ADB it should focus more on micro-finance for the low-income bracket as well as on technical assistance for SMEs in the region. At the same time, more efforts should be centered on inclusive social development and good governance, he insisted. Secondly, Han proposed to let us shape an sia and the Pacific via an Integrated Region & Markets. Sub-regional cooperative initiatives pursued by ADB, like the GMS (Greater Mekong Sub-region), SASEC (South Asia Sub-regional Economic Cooperation) and CAREC (Central Asian Republic Economic Cooperation) have greatly contributed to local development and poverty reduction through focused infrastructure investments. In that respect the Deputy Prime Minister stressed, believe these kinds of initiatives should be expanded further to intensify regional cooperative efforts. In addition, economic integration like FTAs should be anchored on mutual cooperation rather than competition. And we should pursue them in order to increase intra-regional trade and investment and to realign the industrial paradigm, he noted. By doing so, it would ultimately be conducive to expanding our growth potential. Furthermore, he told the delegates of the 38th ADB General Meeting, current regional monetary and financial cooperation should also be reinforced to expedite the process. Thirdly, the Korean Deputy Prime Minister proposed to let us shape an sia and the Pacific with a Narrowed Digital Divide. Given that most of the Asia-Pacific region, except East Asia, has lower e-government indices than the global average, the international community should strengthen its support to close the digital divide in the region, he asserted. ADB should take advantage of its unique position to take the lead in building a E-Asia, thereby creating a transparent and level playing field for all. Furthermore, Korea will, in consultation with the ADB, initiate an -Asia Fundand a nowledge Partnership Fund,as we proposed at the last Annual Meeting, he said. He also asked the ADB to positively consider lending its support to non-member countries in the region, specifically North Korea. hrough education and training projects, I believe we could and should give the necessary attention and encouragement to this country to be well prepared before being admitted to the ADB,he proposed. After the ADB annual meeting, DPM Han left to take part in investor road shows in London and New York, the hubs of international finance, on May 6th and May 9th, for the first time since his inauguration. Major plans included convening a orean economic sessionfor major foreign investors, visiting the 3 biggest credit rating agencies, that is, Fitch, S&P, and Moody and finally meeting world-renowned figures in international financial.

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