Mandelson favours progressive liberalisation in Asia
22 May '06
2 min read
Peter Mandelson
Speaking to regional business and political leaders in the Philippines, EU Trade Commissioner Peter Mandelson has defended a policy of progressive liberalisation in Asia and throughout the global economy.
Assessing the benefits of three decades of progressive liberalisation in Asia , Mandelson argued that the region was the clearest global example of what he called "the globalization dividend"; the cumulative effect of economic openness in boosting economic growth and steadily eliminating poverty.
While acknowledging the challenges of economic development in Asia, Mandelson argued that progressive liberalisation in Asia had helped create a virtuous cycle of economic growth and poverty reduction.
He paid tribute to the challenging process of economic reform in the Philippines and argued that the Philippines' highly-educated English-speaking workforce and growing services sector made it a natural Asian hub for e-commerce and outsourcing: "the India of South-East Asia".
Mandelson argued that the principle and experience of progressive liberalisation had important lessons for the ongoing Doha Round of WTO talks. He argued that the overwhelming dominance of industrial goods in the exports of developing countries made lowering industrial tariffs an important part of a balanced Doha deal - not just for developed countries but among developing countries as well.
He argued that the growing markets of emerging economies like Brazil and China should provide some new market access to the industrial trade of middle-income developing countries. He argued that "we will set back global development for a generation or more if we concede the argument that lowering industrial tariffs should apply only to the developed world".
He stressed the importance of a balanced Doha agreement on services trade.
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