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Integration best answer to trade hurdles

By Armida Salsiah Alisjahbana | China Daily | Updated: 2019-01-16 07:18

Deepening economic integration in Asia and the Pacific is a longstanding regional objective - not an end in itself but a means of supporting the trade, investment and growth necessary to achieve the 2030 Agenda for Sustainable Development. It is a priority for all member states of the United Nations Economic and Social Commission for Asia and the Pacific. Since China has a valuable contribution to make in this regard, I am beginning 2019 with a visit to Beijing to discuss with Chinese leaders how we can strengthen our collaboration and accelerate progress.

The case for deeper integration in Asia and the Pacific is becoming increasingly apparent. Recent trade tensions highlight the region's vulnerability to protectionism from major export markets, and a UN ESCAP analysis shows how regional supply chains are being disrupted and investor confidence shaken. Export growth is expected to slow and foreign direct investment to continue its downward trend.

Millions of jobs are forecast to be lost and many workers displaced. Unskilled workers, particularly women, are likely to suffer most. As such, increasing seamless regional connectivity - expanding the infrastructure which underpins cross-border commercial exchanges and intra-regional trade - must be part of our response.

Integration best answer to trade hurdles

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