Asia-Pacific trade slowing: ESCAP report

Asia and the Pacific remains the most dynamic region of the global economy but growth in regional trade and investment
flows is slowing. The United Nations Economic and Social Commission for
Asia and the Pacific (ESCAP) made this observation in its latest regional trade and investment outlook report released on Monday in Bangkok.
Launching the report, United Nations Under-Secretary-General and ESCAP Executive Secretary Dr. Shamshad Akhtar emphasised the importance of reviving trade and investment flows at a time when Member States have recently endorsed the centrality of trade and investment, as critical means of implementation for the new Sustainable Development Goals (SDGs).
The report is ESCAP’s flagship publication and titled Asia-Pacific Trade and Investment Report 2015, according to a release.  
Dr. Akhtar called on regional policymakers to enhance competitiveness in order to promote inward investment and technology.

“The data and analysis in the 2015 Asia-Pacific Trade and Investment Report will help to mainstream trade considerations, as we work towards achieving the new Sustainable Development Goals,” said Dr. Akhtar.
The report emphasizes that countries need to adjust to both cyclical and structural changes, especially in light of the global slowdown and an expected reduction in China’s growth rate.

ESCAP also said that total exports and imports from the region grew by only 1.6 per cent in 2014.
But excluding China from the regional total, exports from
the Asia-Pacific region registered a decline of 0.4 per cent.  
Despite this, the Asia-Pacific region stands out for its
significant and sustained achievements in leveraging trade and investment flows for development.
It also said that continued sluggish pace of trade and investment growth in the region is impacting the prospects of a merchandise trade recovery in the near-term.- AJK