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

 

Westminster: NZ PM Condemns London Attack

“London is a place many thousands of New Zealanders have visited and called home, and where many more have friends and family based, so this attack feels very close to home,” Mr English says. More>>

ALSO:

Amnesty: Campaign Mass Hangings And Extermination At Syrian Prison

A chilling new report by Amnesty International exposes the Syrian government’s calculated campaign of extrajudicial executions by mass hangings at Saydnaya Prison. Between 2011 and 2015, every week and often twice a week, groups of up to 50 people ... More>>

Russian Hack Job?: White House - Actions In Response To Russian Malicious Cyber Activity & Harassment

President Obama authorized a number of actions in response to the Russian government’s aggressive harassment of U.S. officials and cyber operations aimed at the U.S. election in 2016. More>>

Israel/Palestine: Michael Field - Background To How Israel Nearly Went To War With New Zealand

New Zealand and Senegal managed to get the United Nations Security Council to pass resolution 2334 which said Israel’s settlements in Palestinian territory violate international law and undermine a two-state solution in Israel's conflict with Palestine. More>>

ALSO:

US Indigenous Affairs: How President Obama Has Protected Our Sacred Land

I am very proud to be both Navajo and American. As the President of the Navajo Nation, I’ve dedicated my life to ensuring that, as a Navajo, my story -- and our stories -- are part of our collective American history. Today, I want to share one of those stories with you. More>>

Get More From Scoop

 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news