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

 

Journalist Most Recent Victim Of Israeli Military

Bashar, a journalist from Palestine TV, was shot in the left leg at Kufr Qaddum on Friday the 5th of December 2014. More>>

ALSO:

  • Palestinian Centre For Human Rights - Swiss government’s bid to convene a summit on Palestine
  • UN News - UN-backed reconstruction efforts continue in Gaza
  • UNICEF Mobilizes To Reach People Affected By Typhoon

    As Typhoon Hagupit wreaks havoc through the Philippines, UNICEF is acting quickly to support the Filipino government’s response to the emergency, providing lifesaving supplies and services for children and women in the areas hardest hit by cyclone-force ... More>>

    ALSO:

  • FAO - FAO praises government for early typhoon warnings
  • Security Council Demands End To LRA Attacks In Africa

    A Congolese refugee at an emergency school in Obo, Haut-Mbomou, Central African Republic, (CAR) after fleeing attacks by the Lord’s Resistance Army (LRA). Photo: OCHA/Lauren Paletta More>>

    UN Condemns Botswana’s Treatment Of Bushmen

    The UN Special Rapporteur on cultural rights has voiced concerns over Botswana's evictions of the Bushmen in the name of wildlife conservation. The United Nations’ Special Rapporteur on cultural rights has condemned Botswana’s treatment of Africa’s ... More>>

    UN Congratulates Frontline Ebola Response Workers

    10 December 2014 – The United Nations today congratulated the front line workers in the field battling Ebola on their well-deserved recognition as Time “Person of the Year,” while countries affected by the outbreak and their partners met to ... More>>

    ALSO:

    World United States: US Must Now Recover Moral High Ground In Torture Allegations

    Mr. Juan Mendez, Special Rapporteur on Torture, Cruel, Inhuman or Degrading Treatment or Punishment. UN Photo/Rick Bajornas More>>

    ALSO:


    Al Jazeera Journalist Killed In Syria

    “Targeting journalists and its crew will not deter us from reporting the truth” - Al Jazeera DG More>>

    TPP Talks Continue In Washington D.C.

    As high-level TPP talks continue in Washington D.C., OpenMedia holds face-to-face meetings with key negotiators to demand end to secrecy More>>


    Get More From Scoop

     
     
     
     
     
    World
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news