ADB annual meeting to be held May 2-5
Focus on impact of global financial markets on Asia
STAFF REPORTER
The annual meeting of Manila-based Asian Development Bank (ADB) will discuss the current state of global financial markets and their impact on Asia, particularly on infrastructure investment, as well as steps needed to generate higher quality employment and improved workplace environment in the region, the lender has said.
ADB has opened online registration for the 49th Annual Meeting of its Board of Governors, to be held at Messe in Frankfurt, Germany, from May 2 to May 5 this year. The theme of this years annual meetingwhere ADB will kick-off a year-long celebration of its 50th anniversaryis Cooperating for Sustainability, a press statement from ADB said.
Against the global backdrop of slower economic growth, climate change concerns, and a new set of Sustainable Development Goals (SDGs), the meeting will look at current challenges and solutions to achieve more inclusive and environmentally-sustainable growth in Asia and the Pacific, it added.
At the Governors Seminar, finance ministers of key economies will examine reforms required in areas such as trade, investment, and finance to help lift productivity and put countries on a higher and more sustainable growth path. In keeping with the cooperation theme, it further said, seminars will look at challenges and opportunities for developing Asia-Europe trade and investment relations, and ways to strengthen Asia-Europe macro-economic links while managing spillovers from financial shocks.
There are ongoing trans-continental integration efforts between Asia and Pacific Rim countries (such as Trans-Pacific Partnership) and the US and Europe (like Transatlantic Trade and Investment Partnership) but nothing comparable is being negotiated between Asia and Europe highlighting the need for stepped-up efforts to establish closer economic ties.
Another highly topical issue in the wake of the COP21 Paris climate conference is how Asia will advance clean and climate-resilient development. A seminar will look at the tools available, including finance and technology, to help countries move toward a low-carbon growth path. The statement also said that in another related seminar, mayors from key member countries will discuss how Asian cities can be made more inclusive, safe, resilient and sustainable.
In addition to official ADB sessions and seminars, Germany, as the host country, will organise a range of events where representatives of public and private sectors and civil society will exchange ideas and solutions around renewable energy, sustainable supply and production chains, technical and vocational training, as well as municipal partnerships. A City of Sustainability exhibit will be set up at Messe, Frankfurt, to showcase sustainable development efforts.
