Trade and investment liberalisation policies : issues of concern to the ESCAP region
Author(s)/Corporate Author (s)United Nations. Economic Commission for Africa;
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This paper was prepared by the International Trade and Economic Cooperation division, ESCAP, and is being presented at the meeting by Mr. Ravi Sawhney, Director of the Division. This paper examines trade and investment perspectives of the ESCAP developing countries in the context of the emerging multilateral trade agenda while keeping in view of the current financial crisis enveloping the region. The paper argues that while the region's developing countries are adjusting their policies towards achieving integration with global markets, the process is proving to be much more painful and costly than could have been predicted during the so called miracle years. Openness, liberalization and commitment to sound macroeconomic policies may not necessarily be sufficient conditions for sustained socioeconomic progress.