Asia-Pacific countries meet to formulate regional voice on upcoming G20 summit

High-level government representatives and policymakers from 28 Asia-Pacific countries will meet at the United Nations Asia-Pacific headquarters here tomorrow to formulate a regional voice on issues to be discussed at next month’s G20 Summit in Cannes, France.

The High-level Consultation on the G20 Cannes Summit: Perspectives from Asia-Pacific has been convened by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) to provide a platform for countries in the region to coordinate their voice and for developing countries, including the least developed countries, to raise their priorities in respect to the global economy and the initiatives led by the G20.

The consultation will focus on economic and social priorities of developing countries in the region, including commodity prices volatility, food security and reform of the international monetary and financial system.

A statement will be issued by the Consultation on 12 October, setting out broad principles and concrete policy recommendations from the region to be communicated to the G20 chair.

Dr. Noeleen Heyzer, Under-Secretary-General of the United Nations and Executive Secretary of ESCAP will open the meeting. Other speakers include H.E. Ahmed Mujthaba, Minister of State for Economic Development, Ministry of Economic Development, Maldives, H.E. Rui Manuel Hanjam, Vice Minister of Finance, Timor-Leste, H.E. Timur Muratovich Suleimenov, Deputy-Minister of Economic Development and Trade, Kazakhstan, and Mr. Ajit Nivard Cabraal, Governor, Central Bank of Sri Lanka.

Representatives of the Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (G24) and the United Nations Conference on Trade and Development (UNCTAD) will also attend along with ESCAP experts.

Set up in the wake of the Asian financial crisis in the late 1990s, the G20 brings together developed and key developing nations on key issues relating to global economic stability. The current G20 French presidency has highlighted international monetary and financial system reform, combating commodity price volatility, improved food security and strengthening the social dimensions of globalization as among G20 priorities.

This will be the second High-level Asia-Pacific consultation on the G20 agenda to be organized by ESCAP after the United Nations regional development arm was requested by then G20 chair, the Republic of Korea to facilitate a discussion amongst Asia-Pacific countries in 2010.