OREANDA-NEWS. The new coronavirus pandemic has far-reaching economic and social consequences for the Asia-Pacific region (APR) with strong cross-border side effects on trade, tourism, and financial relations. This is stated in a report published on Wednesday by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).

As governments respond to an unprecedented health crisis and introduce economic stimulus packages, "developing Asia-Pacific countries should increase $ 880 million in support costs for health", the report said.

ESCAP also called on Asia-Pacific countries to consider establishing a regional fund to respond to future health emergencies. This will require all stakeholders, especially governments, enterprises and consumers, to urgently bring their sustainable development goals into line with the 2030 agenda.

The organization also calls for strengthened regional cooperation in order to increase ambition to tackle the climate emergency. “Governments should step up their efforts in the area of ​​climate standards, carbon pricing and introduce sustainable consumption and production patterns at the regional level”, the document emphasizes.