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Industrial restructuring key to growth

ESCAP session opens in Seoul

From Mahfuz Anam
SEOUL. Apr I: The ten-day 47th session of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) began here to day with industrial restructuring as the main theme.
South Korean President Roh Tae-woo. addressing the opening ceremony criticised the trends of protectionism and regional blocs in the world economy. "Trends towards protectionism and regional blocs will construct the world economy and hamper the eco nomic development efforts not only of the developing countries but of the developed countries as well."
On the Korean peninsula situation. Roh said that the relaxation of tension in the Ko rean peninsula is one of the keys to enhance cooperatio: and stability in the Asia Pacific
About a thousand delegates, experts, members of non-governmental organisations and UN officials are expected to participate at this session which Is being held for the first time in the capital of the Republic of Korea.
The ESCAP session is also expected to focus on the basic social and economic factors hindering the economic development of the region. Discussions will also be held on the aftermath of the Oulf War. its effects on the countries of the region and what special measures can be taken to help the most adversely affected countries to overcome them. International development strategy for the Fourth UN De velopment Decade (1991 2000). Programme ol Action for the Least Developed Countries (LDCs) and regional cooperation in agriculture, energy. human resources development. human settlement, transport and communication, and special problems of the Pacific countries are some of the other issues expected to be taken up by this session.
Finance and Planning Minister of Bangladesh. Saifur Rahman leads a five member delegation which includes the Executive Chairman of the Hoard of Investment, the Ambassador to Korea, an official from the ERD and the deputy permanent representative to ESCAP
S.A.M.S. Klbrta. the Executive Secretary of ESCAP, in a pre-conference press briefing said the purpose of choosing industrial restructuring as the theme of the current ESCAP session was to achieve two things: first to enable the Asia Pacific region to sustain their extraordinary economic performant • which has been the best compared to all other regions of the world, and second to adopt policy guidance to enable the not so dynamic countries to share in the region's prosperity. He laid special emphasis on the performance of SAARC countries and their need to adopt policy reforms so that the "growth Impulse" prevalent In other parts of the region could spread to this region.
ESCAP study on industrial restructuring, specially produced for this session, states that trends likely to be intcnsifted In the 1990s Include (a) further globalisation of trade and production structure; (b) declining importance of labour cost: (c) increased competi tlveness of industrial output In all these trends technology and information are likely to play a very Important role. The study reveals that in the future international transfer of pro duction facilities, technology and finance will look for effi dent physical infrastructure, skills, quality and productivity of labour It will look less at comparative wage levels. The study concludes that countries with superior ability to create, generate and transmit knowledge are likely to be ahead of others without such capacities. These findings are of special importance of countries like Bangladesh whose future development and industrial growth are to a large extent dependent on attracting sufficient foreign investment. The ESCAP session which will end of April 10 is expected to adopt an elaborate plan containing about 20 recommendations and 76 action proposals It Is also likely to adopt the 'Seoul Declaration , which will express the pollti cal support of the participating countries behind the recommendations and the action proposals.
An undeclared agenda of the host country, tn organising this conference is to lobby for its upcoming application for UN membership After decades of being left out of the UN system because of Cold War politics. Republic of Korea expects this year to be admitted to the world body. Foreign Minister Lee Sang-ock in a press statement few days ago said hosting the ESCAP session "will create an atmosphere favourable to gain UN membership".”