Cross-border infrastructure development way to boost trade
06 May '06
2 min read
ASIA and Pacific countries need to put more emphasis on regional cooperation to build cross-border infrastructure that will help spur trade, development, and poverty reduction, participants at a seminar heard.
Development experts and financial officials at an ADB seminar on Infrastructure Beyond Borders spoke on the challenges of bringing Asia toward greater regional economic integration and the roles of public, local, and foreign capital to support cross-boundary infrastructure development.
Experiences of Asia, Europe, Latin America, and to a lesser degree, Africa suggest that regional cooperation promotes greater prosperity and stability for participating countries. A major success factor is their ability to building regional initiatives that are based on shared strategic vision, participants heard.
Regional initiatives based on shared frameworks are often marked by activities that define mutual benefits, develop regional mechanisms to allocate the costs and benefits of the investments, and harmonize regulatory and institutional frameworks for sectoral and concession activities.
Rajiv Lall, Managing Director and CEO, Infrastructure Development House and Finance Company, said market logic so compelling that it will overcome political barriers.
ADB has been supporting greater regional cooperation and economic integration through initiatives in every subregion of Asia and the Pacific. These initiatives have helped facilitative cross-border infrastructure investments that link markets and people.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
