Inequality is increasing in Asia and the Pacific. Our region’s remarkable economic success story belies a widening gap between rich and poor. A gap that’s trapping people in poverty and, if not tackled urgently, could thwart our ambition to achieve sustainable development. This is the central challenge heads of state and government will be considering this week at the Economic and Social Commission for Asia and the Pacific (ESCAP). A strengthened regional approach to more sustainable, inclusive growth must be this Commission’s outcome.
Asia and the Pacific remains the engine of the global economy. It continues to power trade, investment and jobs the world over. Two thirds of the region’s economies grew faster in 2017 than the previous year and the trend is expected to continue in 2018. The region’s challenge is now to ensure this growth is robust, sustainable and mobilised to provide more financing for development. It is certainly an opportunity to accelerate progress towards achieving the 2030 Agenda for Sustainable Development.
All eyes are on the 23rd Olympic Winter Games and 12th Paralympic Winter Games in PyeongChang this February. Top athletes will carry their national flags in an opening ceremony which has come to epitomize the international community. Sports fans worldwide eagerly await the Olympics, and this time there is cause for cautious optimism that sport diplomacy may lower tensions on the Korean Peninsula itself. Leaders, diplomats and citizens from the world over will witness North and South Korean athletes walking side by side. For this, there could be few better places than PyeongChang, which means peace (Pyeong) and prosperity (Chang): goals integral to the mission of the United Nations and the 2030 Sustainable Development Agenda.
Senior government officials from across Asia and the Pacific will meet in Bangkok this week for the first-ever Asia-Pacific Ministerial Summit on the Environment. The high-level meeting is co-convened by the United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP) and UN Environment and is a unique opportunity for the region’s environment leaders to discuss how they can work together towards a resource efficient and pollution-free Asia-Pacific.
With just over a year since the adoption of a historic blueprint to end poverty and protect the planet, positive signs have already started to emerge among countries in the Asia-Pacific region as they push ahead with the implementation of the 17 Sustainable Development Goals (SDGs).
Investment in science, technology and innovation (STI) needs to be the backbone of productivity-led economic recovery and sustainable development. Despite significant increases in productivity over the past few decades, economic growth in developing economies of Asia and the Pacific has been primarily driven by factor accumulation. However, the average rate of productivity growth slowed between 2000-2007 and 2008-2014 by 65%, which has contributed to the economic slowdown and can undermine efforts to effectively pursue the 2030 Agenda for Sustainable Development. We must revive growth in productivity, one of the keys to which is a highly-skilled labor force.
The Asia-Pacific region’s successful achievement of the 2030 Agenda for Sustainable Development needs to be driven by broad-based productivity gains and rebalancing of economies towards domestic and regional demand. This is the main message of the Economic and Social Survey of Asia and the Pacific 2016
, published today by the Economic and Social Commission for Asia and the Pacific. Such a strategy will not only underpin the revival of robust and resilient economic growth, but also improve the quality of growth by making it more inclusive and sustainable.