ADB: Wider, Deeper Regional Cooperation in Asia and the Pacific is Key to Managing Crises
An Asian Development Bank (ADB) article underscores that collective action helped contribute to combating the coronavirus disease (COVID-19) pandemic, and notes that expanding and deepening cross-border cooperation in Asia and the Pacific will help the region navigate newer economic challenges and the worsening climate crisis. The support that ADB and other development partners have extended to countries in managing the various impact from the pandemic has provided valuable lessons on tackling oncoming threats.
The article also highlights areas where further cooperation is needed for the region to successfully navigate the current threats to its growth and development. These include the need for i) more high-quality infrastructure to further expand cross-border trade and investment and to promote global value chains; ii) adoption of harmonized standards in digitalization to make them more interoperable across borders, and to ensure information and communications technology services are accessible to all groups so that the benefits of economic growth are distributed more equitably; and iii) skills training and social protection programs to ensure migrants have the tools to succeed and safety nets to support them.
ADB works together and supports various subregional groups that have a long-established track record in promoting regional cooperation and integration, including the Greater Mekong Subregion Economic Cooperation Program, the Central Asia Regional Economic Cooperation, the Pacific Islands Forum, and the South Asia Subregional Economic Cooperation. ADB support helps drive physical and soft connectivity, trade, investment, financial links, and the promotion of regional public goods across Asia and the Pacific.
Read the full article on the ADB website.
Last Updated: 5 December 2022