Data bank needed for Asia Pacific business
Data bank needed for Asia Pacific business
KUALA LUMPUR (AFP): A senior Malaysian minister yesterday called on the United Nations to set up an economic data bank for the Asia Pacific to create greater awareness of business opportunities in the region.
"Some countries of the Asia Pacific cannot avail themselves of the potential of South-South cooperation and even of North-South cooperation due to the lack of information and knowledge on access into regional resources," Minister of International Trade and Industry Rafidah Aziz said.
Addressing a preliminary session ahead of a meeting of the United Nations Development Program (UNDP) here, Rafidah proposed an analysis of the whole Asia-Pacific by sub-regions that have similar economic conditions.
The data bank should include information on natural resources to facilitate investments between countries in the region, she said at the session that preceded UNDP's two-day meeting for Regional Development and Cooperation in Asia and the Pacific.
"This can generate private sector regional joint-ventures to obtain high value-added to these resources," said Rafidah.
Data on human resource availability and existing technology in the region could also aid in mobilizing workers between countries and in the sourcing of technology apart from promoting collaboration in research and development.
Rafidah called on the UNDP and respective governments to help fund the setting up of the data bank while the private sector could help absorb operating costs through levies.
The two-day meeting will be attended by 189 participants from more than 40 countries, including India, Japan, the Philippines and Papua New Guinea.
Malaysian Prime Minister Mahathir Mohamad is scheduled to give a keynote speech on Tuesday.
"We will pursue the findings and views expressed and give detailed consideration. Resources permitting, they will give us some pretty good directions," said A. Selvanathan, principal advisor to the New York-based regional bureau for Asia Pacific.