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Chair's Summary
The 2nd Kyoto Seminar on
Sustainable Growth in the Asia-Pacific Region:
Deepening Economic Interdependence and Risk Management

26th October 2007
Katsura Campus, Kyoto University

1. On the 25th and 26th of October, 2007, the Ministry of Foreign Affairs of Japan and Kyoto University co-organized an international conference on sustainable growth in the Asia-Pacific region. The conference was attended by about forty experts from governments, research institutes and academic and business societies in the Asia-Pacific economies and regional and global organizations. This is the 2nd meeting following the first one held last year.
2. The participants (PDF) discussed wide-ranging issues of the Asia-Pacific region including structural changes of supply chain, trade and investment patterns, future obstacles and risks for the economic growth and their management, information gaps emerging from globalization, indicators related to sustainable growth and EiSMAP, an information sharing mechanism to understand the sustainability of growth of the regional economies.
3. Some main points noted during the discussion are:
   • (a) The Asia-Pacific region has achieved a rapid economic growth through its accelerated production as well as trade and investment flows. Cross-border trade and investment are both increasing and changing their nature rapidly, having a significant impact on governments, industries and communities in Asia-Pacific economies. The region's corporations and manufacturers have been developing complex systems of production sharing or supply chains and division of labor in which relevant economies, based on their comparative advantages, supply raw materials or intermediate goods (including parts & components) to each other and export final products to inside and outside the region. Some economies that have been historically large net recipients of foreign direct investment are now emerging as new investors.
   • (b) There are significant potential risks and challenges to future sustainable regional growth. These include infrastructural (both in hardware infrastructure and human capital development) and regulatory weaknesses, insufficient technology transfer, excess liquidity in some economies, accelerating environmental challenges including climate change and natural disasters. Rapid industrialization has helped improve economic and other living conditions, but it can also have negative impacts on the environment. Interdependence has accelerated growth, but also has created a situation where crises originating in one economy can spread more easily and quickly to others.
   • (c) Governmental policy and regional and international cooperation are of primary importance to managing these risks. Sound economic & social policies and measures to ensure good governance are also important factors tohelp encourage the growth of local businesses. Regional and international cooperation need to be supported and underpinned by an information sharing mechanism to accurately identify and assess risks, analyze their causes, and suggest effective means of addressing challenges.
4. The participants discussed the design of and optimum results and benefits from an "Economic Information Sharing Mechanism of the Asia-Pacific (EiSMAP)", and called attention to the following points:
   • (a) The basic purpose of Asia-Pacific economic cooperation is to strengthen sustainable growth, being accompanied by a continuous improvement of quality of life.
   • (b) EiSMAP is a proposed platform for assessing sustainable growth in the Asia-Pacific region and forecasting and averting potential risks. This mechanism thus could offer results of studies and analyses on sustainable growth for policy consultations conducted in the region.
   • (c) EiSMAP could consist of an information portal, a forum and annual, as well as thematic, meetings by international panel of experts.
   • (d) EiSMAP members could be those who have the will and capability to contribute to EiSMAP including: (i) authorities from the Asia-Pacific countries and economies, (ii) entities or individuals and (iii) international or regional organizations. EiSMAP may seek contribution from and cooperation with business societies of the region.
   • (e) "EiSMAP Information Portal" may contain the following data, information and indicators:
     • (i) Statistical data of the Asia-Pacific region including economic growth, trade, investment, demography, employment, health care, social welfare, education, environment, energy, food, security and other material deemed relevant by the members.
     • (ii) Policy targets (not limited to statistical information) of the region related to the above mentioned areas;
     • (iii) "EiSMAP indicators", divided into "economic indicators" and "sustainability indicators", paying attention to "cross border issues".
   • (f) The "EiSMAP Information Portal" could carry information collected from sources designated by Members of EiSMAP. Registered subscribers from general public may have free access to the portal.
   • (g) The "EiSMAP Forum" could provide information about EiSMAP, practical instructions to users, results of studies and analyses about sustainable growth. Registered subscribers from general public may fully access the forum and upload their views or opinions to EiSMAP.
   • (h) Members could meet to assess recent developments of EiSMAP and can discuss working programs in the future. They can discuss the latest studies and analyses on sustainable growth.
5. The participants agreed that EiSMAP concept could provide a valuable tool to regional policy makers and should, after further refinement, be implemented by appropriate stakeholders in the Asia-Pacific region, including regional or international organizations.
6. The participants expressed appreciation for the preparation and arrangement of this conference by the co-organizers, the Ministry of Foreign Affairs of Japan and Kyoto University.

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