Pacific vital to Asia’s interests
Pacific vital to Asia’s interests
While the developing countries of Asia Pacific as a whole achieved average growth rates of over 6% in 2005, with China and India generating over 8%, most Pacific island developing countries on average managed just 3%. This was barely above the growth rate of the population in many island countries. The differences in the pace of growth are widening the gap between fast-growing Asian countries and the Pacific developing countries. The growing disparities over time could further marginalise the islands in a rapidly globalising world economy.
One way of benefiting from Asian dynamism is for Pacific island countries to expand their partnerships with Asia, just as Caribbean islands have benefitted through their links with not only the United States and Canada, but also Brazil and Mexico. The strengthening of Pacific-Asia partnership is not an alternative path of development for Pacific Island developing countries, but an addition to existing modes of cooperation with Australia and New Zealand, and to take advantage of the growing dynamism of the Asian region and its impact on the global economy.
Taken as a whole, the Pacific is an important part of the world. With an Economic Exclusive Zone (EEZ) area of nearly 20 million sq km and a huge maritime area, the Pacific developing countries are rich in resources. Although the population is relatively small _ some 8 million _ the Pacific island developing countries have great potential for mutually beneficial collaboration with Asian countries. Young people aged between 15 and 24 years account for 20% of the population. This is in contrast to the situation in many Asian countries that are undergoing rapid ageing.
More: bangkokpost.com