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 | Thursday, April 27, 2000, updated at 09:49(GMT+8) | ||||||||||||
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ADB Urges to Improve Global Trading EnvironmentTo address the social challenges of Asia, there must be an effort to improve the global trading environment, Myoung-Ho Shin, vice president of the Asian Development Bank (ADB) said Wednesday.Speaking at a press conference held for the launch of the Asian Development Outlook 2000, Shin said, although the global trading environment has improved over the years, developed countries continue to maintain high tariff and non-tariff barriers in areas such as agriculture and textiles which are of interest to poorer developing countries. The rampant use of anti-dumping measures by advanced countries and the specter of protectionism in the guise of labor and environment measure do not inspire confidence in poor countries about the fairness of the global trading system, he said. The vice president said the social challenge facing developing Asia as it enter the 21st century is to improve the quality of life of the hundreds of millions who still live in abject poverty. To reduce poverty in the region, he also urges Asian economies to seek an increase in the flow of foreign assistance. He said that assistance from the developed to the developing world has steadily declined over the last decade, which unfortunately happened when many industrial economies are in much better fiscal shape than at any time in recent history. Appealing for more attention to be given to providing international public goods, Shin said the international community can greatly help to reduce global poverty by providing important international public goods.
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