The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) recently published this year’s Asia-Pacific Trade and Investment Report, titled ‘Turning the Tide: Toward Inclusive Trade and Investment’. According to the report, the region is continuing to outperform the rest of the world in overall growth rate. The Asian-Pacific economy is boosted by trade-led expansion. However, inequalities are becoming apparent.

“The overarching message of this year’s report is that securing continuing growth of trade and investments remains among the top economic priorities for the region, but this comes with the realization that the quality and patterns of growth must also be enhanced,” explained Under-Secretary-General of the UN and ESCAP executive secretary Dr. Noeleen Heyzer. “We need trade and investment to generate inclusive growth and shared prosperity, building the productive capacities of our countries.”

ESCAP’s director of trade and investment Dr. Ravi Ratnayake stated: “It is prime time to charge trade-and investment-led growth with delivering benefits for all and reducing vulnerability amongst the poorest, to turn the tide towards inclusive trade and investment. Focusing primarily on the role of trade and investment in increasing overall growth, and considering distributional issues as secondary, has not produced inclusive societies.”