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UNESCAP targets 12.8% export growth.
The United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) has set a target of 12.8% export growth for the region in the coming year. This ambitious goal is part of the organization’s efforts to promote economic development and reduce poverty in the Asia-Pacific region.
According to UNESCAP, the region’s exports have been growing steadily over the past few years, with an average annual growth rate of 6.2% between 2010 and 2019. However, the COVID-19 pandemic has had a significant impact on the region’s economies, with many countries experiencing a decline in exports in 2020.
To address this challenge, UNESCAP is calling for increased investment in infrastructure, technology, and innovation to help businesses adapt to the changing global market. The organization is also urging governments to implement policies that support trade and investment, such as reducing trade barriers and promoting regional integration.
In addition, UNESCAP is emphasizing the importance of sustainable development in the region’s export growth. The organization is calling for greater investment in renewable energy, sustainable agriculture, and eco-friendly manufacturing practices to ensure that economic growth is environmentally sustainable.
UNESCAP’s target of 12.8% export growth is an ambitious goal, but it is achievable with the right policies and investments in place. By promoting sustainable development and supporting businesses to adapt to the changing global market, the Asia-Pacific region can continue to grow and thrive in the years to come.