AMIDST SCOURGE OF TERRORISM, A RAY OF ECONOMIC HOPE

Bangkok (United Nations Information Services) -- With continued uncertainty about the recovery of the global economy and a growing need for developing countries to manage the effects of globalization amidst the scourge of terrorism, Government ministers and representatives from 49 members and associate members have attended the opening of the 58th Session of the United Nations Economic and Social Commission for Asia and the Pacific.

The UN ESCAP region now has the very real prospect of taking part in a true "development round" of trade negotiations, following last year's World Trade Organization's agreement in Doha, and creating "a global market that is fair and gives men and women in the developing world a chance to trade their way out of poverty," said Mr. Kofi Annan, United Nations Secretary General, in a statement read to delegates at the United Nations Conference Centre in Bangkok.

The theme of this year's 58th Commission Session is, Sustainable Social Development in a Period of Rapid Globalization: Challenges, Opportunities and Policy Options.

H.E. Thaksin Shinawatra, Prime Minister of the Royal Thai Government, opened the Ministerial Segment, adding that for developing countries, "the lessons of self-reliance and internal clarity have to be established before we can move ahead and engage fully with the international community on an equal footing."

Mr Thaksin called for a new partnership among developed and developing countries saying that the Monterrey Consensus adopted by the International Conference on Financing for Development " stressed the need to ensure the effective and equitable participation of developing countries in international economic decision making and norm setting."

He added the Asia Cooperation Dialogue (ACD) proposed by Thailand will serve as an open and informal forum for the exchange of views and interest, and will be a step closer to building a stronger Asia. Mr Thaksin welcomed the suggestion made by UN ESCAP to discuss this initiative.

"There are hopeful signs of (economic) recovery on the horizon," said Mr. Kim Hak-Su, Executive Secretary of UN ESCAP, but "uncertainties continue to cloud the growth prospects for the U.S. and Japanese economies." Governments in the UN ESCAP region were also facing the serious challenge from "the scourge of terrorism."

Government ministers will be asked to approve a plan to refocus the Commission's work and conference structure. "A revitalized UN ESCAP remains committed to assisting the region's developing countries," Mr. Kim said.

A closed-door Ministerial Roundtable meeting will be held Tuesday, 21 May, 2002 at 9:00 AM at the UNCC. A news conference by the Executive Secretary will be held following the Roundtable discussion at the Executive Suite, 2nd floor, UNCC at approximately 11:30 AM. Refreshments will be served.

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