UN / ECONOMIC AND SOCIAL SURVEY FOR ASIA AND THE PACIFIC 2007

A United Nations (UN) report released today says inequality and discrimination against women is losing Asia and the Pacific billions of dollars every year.
The United Nations Economic and Social Commission for Asia and the Pacific's
(UNESCAP)'s annual review called the Economic and Social Survey of Asia and the Pacific 2007, has found that restrictions to employment for women annually costs the region US$42 to 47 billion.
A further US $16-30 billion is lost through gender gaps in education. The costs are occurring despite considerable gains in reducing discrimination and improving education in recent decades.
The report also found that if female participation was placed on par with the United States, India's gross domestic product (GDP) would be lifted 4.2 percent a year and growth would be lifted by 1.08 percentage points - a gain to the economy of US$19 billion.
Significant gains could also be achieved in Malaysia and Indonesia, but less for China, where female work force participation is already considerably higher.
SOUNDBITE (English) Kim Hak-Su, Executive Secretary, United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP):
"That is an alarming figure. And how can we reduce this cost - In fact in some countries if they utilize women into mainstream employment they can benefit, but as a whole Asia should more. And with limited resources, if there is a strong political will and political commitment at the highest level, I firmly believe this discrimination can be corrected and eliminated."
This year's report, titled "Surging Ahead in Uncertain Times," is the
Asia-Pacific's oldest and most comprehensive annual review of
economic and social developments. One of the most critical issues examined was the outlook for regional economies in 2007.
SOUNDBITE (English) Kim Hak-Su, Executive Secretary, United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP):
"Yes. 2007 we project a little bit slower than 2006. A little bit. 7.4 percent as against 2006, 7.9 percent. Mainly because of two reasons: first, slow down of U.S economy and second, a little bit also slow down of world to global demand for electronics. These two will make the external environment not favourable. However, we have good news. That is in Asia we have three big economies that will maintain the growth momentum. Those three are Chinese, and Indian, and Japanese economies and these economies represent about 60 percent of Asia's GDP and 45 percent of all Asian imports. So they may provide good opportunities to other developing countries. So, as a whole the 2007 outlook is not so bad, it is above 7 percent economic growth which could be enviable by other regions."
The report also looked at the biggest risks the region faces in the year ahead, including more potential oil price shocks, sharp depreciation of the US dollar, and economic "overheating" in China.
SOUNDBITE (English) Kim Hak-Su, Executive Secretary, United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP):
"So with these risk areas, also we're seeing Japanese recovery could also slow down because of their heavy debt, government debt. As a whole these risks are still with us and we'll see how it will develop."
The report went one step further, offering a range of risk-reducing suggestions to governments in the region.