Global crisis gives impetus to Asian integration, says ADB
TASHKENT. May 3. KAZINFORM Regional integration of Asia, which could benefit the region and the entire world, has been provided with momentum thanks to Asia's fast recovery from the global economic downturn, governors of the Asian Development Bank (ADB) and officials said Sunday; Kazinform refers to Xinhua.
ADB President Haruhiko Kuroda and eight ADB governors and ministers attended a seminar, "Asian Integration and Global Growth," held within the framework of an ADB annual meeting that opened Saturday in the Uzbek capital.
"Increasing interdependence across Asian economies offers a new platform for economic development -- one that is good for individual countries, good for the region, and good for the world," said Kuroda at the seminar.
Despite a quick recovery from the crisis, some defects of the Asian economy have been exposed, such as over-reliance on exports and the reliance on boosting domestic demand for economic growth, said attendants at the seminar; Kazinform cites Xinhua.
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