DUSHANBE, April 14, 2016, Asia-Plus — As the international community embarks on implementation of the ambitious 2030 Agenda for Sustainable Development, the Asia-Pacific region will play a critical leadership role, not least because of its size, diversity and dynamism, the head of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) said in New York on April 13, in the lead-up to the ECOSOC Forum on Financing for Development being held there next week, according to ECAP.
Dr. Shamshad Akhtar, United Nations Under-Secretary-General and Executive Secretary of ESCAP led two briefings for Permanent Representatives of United Nations Member States, on the outcomes of key ESCAP meetings held over the past month, namely the first High-level Follow-up Dialogue on Financing for Development in Asia and the Pacific, and the Asia-Pacific Forum on Sustainable Development. Dr. Akhtar also briefed the Permanent Representatives on ESCAP’s efforts to advance Asia-Pacific regional economic cooperation and integration.
Among the outcomes of the two high-level regional deliberations has been consensus on the need for an Asia-Pacific Tax Forum to support revenue enhancement in the region’s developing countries; the importance of harmonizing legal and regulatory frameworks of regional capital markets; strategies to deploy private investment and savings to support sustainability; the value of establishing a new regional infrastructure financing forum; and the foundational elements of a regional road map for implementation of the SDGs – especially in developing countries and countries with special needs.
Dr. Akhtar explained that ESCAP member States have identified four strategic pillars through which a more integrated Asia-Pacific region should be pursued. These include moving towards the formation of an integrated market, the development of seamless connectivity in the region, enhancing financial cooperation and increasing economic cooperation to address shared vulnerabilities, risks and challenges.
