ADB to meet on EAGA

ADB to meet on EAGA

MANILA (UPI): The Asian Development Bank yesterday announced it would sponsor a conference in Manila aimed at finalizing a year-long study on the potentials of the Brunei-Indonesia- Malaysia-Philippines East Asean Growth Area (EAGA).

The Manila-based bank said the three-day meet beginning March 13, to be keynoted by President Fidel Ramos, is the conclusion of a study to develop a strategic plan to promote economic cooperation and development in the quadrangle.

The conference will be attended by senior government trade officials from the four countries, private sector representatives and a team of international business consultants, the ADB said.

ADB said the meet will review a revised draft report that consists of conclusive findings on strategic frameworks, country profiles and sectoral studies.

The study on the growth quadrangle identifies a wide range of policy, programs and project initiatives in agriculture, fishing and forestry, trade and investment, financial services, transport and communication, power and energy, tourism and human resource development.

The study, launched last year, is being financed by ADB through a d1.8-million technical assistance grant and a US$400,000 from Brunei. Preliminary meetings were held in May, August and October.