ID :
48222
Sat, 02/28/2009 - 19:08
Auther :
Shortlink :
https://oananews.org//node/48222
The shortlink copeid
SUB-REGIONAL COOPERATION CRUCIAL TO FACE ECONOMIC CRISIS
HUA HIN (Thailand), Feb 28 (Bernama) -- Strong sub-regional cooperation is crucial to helping Southeast Asia withstand the challenges of the current global economic downturn and the Asian Development Bank (ADB) will this year bolster efforts to cement links, said its President Haruhiko Kuroda.
"Regional cooperation becomes even more important as we seek to pursue joint
approaches and pool our resources to cope with difficulties that we all face,"
he said.
Kuroda said this when addressing regional leaders at the 4th
Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) Summit, as well as at the
5th Brunei Darussalam-Indonesia-Malaysia-Philippines East Asian Growth Area
(BIMP-EAGA) Summit.
Both meetings took place on the sidelines of the 14th Asean Summit here.
Kuorda said ADB would this year conduct further work to help develop three
connectivity corridors in that sub-region, as well as kicking off studies to
facilitate trade, improve logistics and streamline customs functions with a view
to enhancing sub-regional trade and accelerating growth in the participating
provinces and states.
ADB expects to unveil a plan later this year to involve other development
partners and private investors in IMT-GT, a reflection of ADB's confidence in
the region's potential.
He said BIMP-EAGA has made progress towards improving transport links,
facilitating trade and developing economic corridors, adding that the region
could become a major player in the regional and global food market
in the future.
"To increase productivity in the agriculture sector, increased investment is
needed in infrastructure development, technology upgrading, and marketing
support," Kuroda said.
According to him, policies on trade in agriculture products also need to be
reformed to eliminate non-tariff trade barriers.
ADB will continue its technical and lending assistance to foster development
in those areas, he added.
Indonesia, Malaysia and Thailand launched the IMT-GT programme in 1993 while
the BIMP-EAGA programme was launched in 1994.
The initiatives seek to expand opportunities for trade and investment in the
two sub-regions to support sustainable economic growth.
-- BERNAMA
"Regional cooperation becomes even more important as we seek to pursue joint
approaches and pool our resources to cope with difficulties that we all face,"
he said.
Kuroda said this when addressing regional leaders at the 4th
Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) Summit, as well as at the
5th Brunei Darussalam-Indonesia-Malaysia-Philippines East Asian Growth Area
(BIMP-EAGA) Summit.
Both meetings took place on the sidelines of the 14th Asean Summit here.
Kuorda said ADB would this year conduct further work to help develop three
connectivity corridors in that sub-region, as well as kicking off studies to
facilitate trade, improve logistics and streamline customs functions with a view
to enhancing sub-regional trade and accelerating growth in the participating
provinces and states.
ADB expects to unveil a plan later this year to involve other development
partners and private investors in IMT-GT, a reflection of ADB's confidence in
the region's potential.
He said BIMP-EAGA has made progress towards improving transport links,
facilitating trade and developing economic corridors, adding that the region
could become a major player in the regional and global food market
in the future.
"To increase productivity in the agriculture sector, increased investment is
needed in infrastructure development, technology upgrading, and marketing
support," Kuroda said.
According to him, policies on trade in agriculture products also need to be
reformed to eliminate non-tariff trade barriers.
ADB will continue its technical and lending assistance to foster development
in those areas, he added.
Indonesia, Malaysia and Thailand launched the IMT-GT programme in 1993 while
the BIMP-EAGA programme was launched in 1994.
The initiatives seek to expand opportunities for trade and investment in the
two sub-regions to support sustainable economic growth.
-- BERNAMA
