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Developing Nations Need to "Fill Information Gaps" Transparent and accountable governance needed Bangkok (United Nations Information Services) -- The world's poorer countries cannot be expected to keep pace with more developed nations when it comes to globalization. But there are some relatively easy and cost-effective steps they could take to narrow the gap. There is a "need for effective, participatory, transparent and accountable governance", said Mr. Kim Hak-Su, Executive Secretary of ESCAP. Foreign investment in some countries of the ESCAP region has been slow to materialize due to market uncertainties and a lack of reliable information and advice provided by the local and national authorities. For example, some countries needed to fill the "information gaps concerning markets and their organization", Mr. Kim said. Mr Kim stressed the need for local confidence building measures in the ESCAP region. The United Nations Secretary-General, Mr. Kofi Annan, has made the issue a priority "Public institutions free of corruption and accountable corporate governance are necessary elements of an environment conducive to the effective mobilization and allocation of domestic resources." Mr Kim made the remarks during a speech to delegates at the International Conference on Financing For Development (FfD), being held in Monterey, Mexico. The conference, which ends Friday, is exploring the various methods of financing international development. Leaders from as many as fifty countries were expected to attend the summit. Although Mr Kim stressed the need for more development in some of the poorer countries which make up the ESCAP region, he noted that globalization should proceed at a measured pace. "Trade policy reform is not merely a matter of reducing or abolishing tariffs," he said. "It is also to do with facilitating trade," he said. "Governments should give equal emphasis to the provision of public goods for promoting trade in the form of advice, market intelligence and quality and requirements and standardizations" For further information contact: ****** |
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