World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 


$2 Million ADB grant from Japan to boost trade in Pacific

$2 MILLION ADB GRANT FROM JAPAN TO BOOST TRADE IN THE PACIFIC REGION

2 July, 2014

MANILA, PHILIPPINES– The Asian Development Bank (ADB) will help identify and ease constraints on international trade in the Pacific through a $2 million technical assistance grant from the Japan Fund for Poverty Reduction, financed by the Government of Japan.

The technical assistance will conduct a regional analysis of trade and transport linkages and provides insights on how the region can boost trade and access to international markets.

“Interregional and intraregional trade growth is held back by a variety of trade and transport constraints in the Pacific,” said Sarosh Khan, an ADB Senior Transport Specialist. “Improving efficiency and reducing the cost of trade services and logistics can help the Pacific perform closer to its economic potential.”

Total Pacific trade with the world increased from $6.4 billion to $25.4 billion during 2000-2012, mostly due to exports of palm oil, coffee, coconut and fish, and imports of electrical machinery, cars, equipment, petroleum, and food.
The direction of trade has shifted in the past 13 years, Trade with Australia and New Zealand has declined while there has been a significant increase in the share of trade with Southeast Asia, China, and India—from around 15% to 26% in 2012.

The region’s high dependency on imports, mean that sea and air transport need to be improved to achieve more benefits from economic integration with regional and global markets.

The support from ADB will help establish tools to assess and improve trade facilitation and transport logistics performance. It will also help national and regional agencies to assess trade and transport demand, design investment and policy options, and improve logistics and custom performance.
ADB will partner with The United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), Oceania Customs Organization, and the World Customs Organization.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members—48 from the region. In 2013, ADB assistance totaled $21.0 billion, including cofinancing of $6.6 billion.

ENDS

© Scoop Media

 
 
 
 
 
World Headlines

 

As Health Needs Rise In Somalia, Funding Hits New Low

As health needs rise in Somalia, funding hits new low, cutting off 1.5 million from care – UN More>>

Need To End Violence Against Children In Conflict

‘We should be outraged’ more not being done to end violence against children in conflict – UNICEF chief More>>

On Mandela Day, UN Joins Call To Promote Community Service

Nelson Mandela, then Deputy President of the African National Congress of South Africa, raises his fist in the air while addressing the Special Committee Against Apartheid in the General Assembly Hall. UN Photo/P. Sudhakaran More>>

Some $3.2 Billion Needed For Ebola Recovery Efforts

Some $3.2 billion needed for Ebola recovery efforts in Guinea, Liberia and Sierra Leone – UN More>>

World Day: UN Spotlights Plight Of Vulnerable Populalations

Syrian refugees fleeing the fighting near the Syrian city of Kobani wait in a holding area before boarding buses in Turkey (September 2014). Photo: UNHCR /I. Prickett More>>

Afghanisatan: Direct Talks Between Government And Taliban

The United Nations Security Council has welcomed the recently held direct talks between Afghan Government and Taliban representatives as a step towards “peace and reconciliation” in the region. More>>

Eradicating World Hunger By 2030

Agriculture workers collect carrots on a farm in Chimaltenango, Guatemala. Photo: World Bank/Maria Fleischmann More>>

Bangladesh: Flood Leads To UN Agency Providing Food Relief

Anwar Hossain unloads cartons of High Energy Biscuits from a pickup truck and transfers them to a distribution center in Kawar Khop union, Ramu upazila, Cox’s Bazar, Bangladesh. Photo: WFP/Kamrul Mithon More>>

Ban Says World Must Act Now To Curb Climate Change

Alarmed by melting glacier in Norway, Ban says world must 'act now' to curb climate change More>>

UN Spotlights Data And Technology As Key To Sustainability

The importance of quality data and cutting edge information communication technologies (ICTs) is increasingly critical to the shaping of the future sustainable development agenda, the head of the United Nations Development Programme ( UNDP ) confirmed today. More>>

Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news