Media Center

Press Release

Email this   printer friendly format

Impacts of Trade Liberalization to Poverty and Growth in Asia

MANILA, PHILIPPINES (24 October 2002) - The Fourth Asia Development Forum (ADF) jointly organized by the Asian Development Bank (ADB), World Bank (WB), Korea Institute for International Economic Policy (KIEP), and Korea Development Institute (KDI) will focus on the effects of trade liberalization and globalization on Asia's growth and efforts to tackle poverty reduction.

The Forum will be held at Shilla Hotel, Seoul, Republic of Korea from 3-5 November 2002. Deputy Prime Minister and concurrent Minister of Finance and Economy, Republic of Korea, Mr. Jeon Yun-churl, will present the keynote address at the plenary session.

The ADF, fourth in a series of regional fora, aims at strengthening links and engaging in policy dialogue within the development community of the Asia and Pacific region. The Forum, which began as a regional workshop in Manila, Philippines in 1998, is the culmination of efforts between ADB and the WB to promote pro-poor growth in Asia and Pacific by addressing the emerging policy issues in the region.

The Forum will discuss key issues such as how international trade and investment will be affected by the launch of a new round of multilateral trade negotiations; the People's Republic of China's (PRC) entry into the World Trade Organization (WTO); and how Asian economies can maximize their development potential to addressing behind-the-border issues such as innovations and intellectual property rights. The Forum will also focus on how the poor can have greater access to the benefits of globalization and integration.

ADB Vice-President, Mr. Myoung-Ho Shin said "Events such as the launch of the Doha Round and PRC's WTO entry offer significant development potential through greater trade liberalization and better rules governing the international trading environment. As a regional multilateral institution, ADB will continue to facilitate dialogue on emerging policy issues and help its developing member countries (DMCs) make the international trading environment supportive of poverty reduction efforts in the region."

KDI President, Mr. Choongsoo Kim said "Asia comprises 75 percent of the world's poor. And PRC is emerging as a world economic power. Hence, multiple approaches to reducing poverty as well as understanding PRC's role as a WTO member are both timely and important."

The Forum will also examine how globalization affects job vulnerability in terms of variance in earnings, volatility in employment growth, and the likelihood of earning below a survival threshold.

Behind-the-border discussions will review the impact of logistical barriers on trade from remote and poor areas; assess the experiences of major Asian economies in deregulating and liberalizing the energy and telecommunications sectors; and present strategies on trade and investment issues for DMCs in future WTO negotiations.

World Bank Vice-President for East Asia and Pacific, Mr. Jemal-ud-din Kassum said "Rapid and sustained growth in international trade has long been a hallmark of successful shared growth strategies in East Asia. The Forum will identify critical policy issues for East Asia and options for addressing them. Trade negotiations increasingly encompass a much wider set of behind-the-border issues which need to be tackled from a development perspective-and a poverty perspective."

KIEP President Mr. Choong Yong Ahn said "To cope with rapid changes in the global economic environment, the Asian development community needs to gather regularly through venues like the ADF to discuss ways to achieve sustainable growth in the region."

Renowned panelists from Asia and outside the region will tackle poverty and trade-related issues with over 200 participants expected to attend the Forum.

Contacts: