ISSN: 1391 - 0531
Sunday May 25, 2008
Vol. 42 - No 52
Financial Times  

Sri Lankan on Business Advisory Council of ESCAP

Tissa Jayaweera, Chairman - International Chamber of Commerce, Sri Lanka was elected a member of the Business Advisory Council (BAC) at the 7th meeting of The United Nations Economic and Social Commission for Asia and Pacific UNESCAP, Business Advisory Council meeting held in Bangkok, Thailand from April 25 – 27.

It was chaired by Under Secretary General United Nations and Executive Secretary ESCAP Ms Noeleen Heyzer. Other members of the Business Advisory Council are Peter Charlton (Australia). Mahbubur Rahman (Bangladesh), Mohamed Iqbal (Malaysia), Tariq Rangoonwala (Pakistan), and Jingjai Hanchanlash, Chote Sophonpanich, and Khunying Jada Wattanasiritham, all fromThailand.

Speaking at the meeting, Heyzer said some of the major issues in the Asia-Pacific region is the reliance on carbon based and fossil fuel. The role of the BAC is to collectively or individually help ESCAP achieve priority needs of countries in the region. Suggested areas for BAC advice and discussion are -- needs and mechanisms for improving the business climate; alert ESCAP on important trends and needed policy responses; partnership to develop the private sector in less developed countries; promotion and expansion of public-private partnerships; spearheading the promotion of Global Compact and Corporate Social Responsibility.

Members of BAC were of the opinion that there are a lot of technologies available to help develop the region and it is important to exchange knowledge on alternative energy, food technology, etc, Jayaweera said. BAC members proposed an Asia-Pacific Energy Security Paradigm, Public-Private Partnerships and proposed a higher commitment of member states to a new energy security paradigm.

This, they said, should be discussed at government level through a Ministerial Roundtable (MRT) at an Asia-Pacific Business Forum.
BAC members were of the opinion that the private sector would invest on energy only if the playing field was even. It was also emphasized that governments have to provide assurance that the rules will not change ad hoc, if investments are to follow.

It was also pointed out that the Kyoto agreement was not clear to the private sector and the carbon credit schemes should be applied to the equity side rather than the way they are constructed now and provide soft loan schemes for using non-fossil energy, mini-hydro systems as commercial loans are expensive for such purposes.

 

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