Many challenges remain for Asian countries despite several having made significant progress in developing knowledge-based economies since the financial crisis in the region, the OECD said yesterday.
The Organization for Economic Cooperation and Development laid out its appraisal of the region at the opening of a two-day forum here on promoting knowledge-based economies in Asia.
Although only two Asian nations, Japan and South Korea, are included in the 30-member OECD, the Paris-based body sees the region as an important dialogue partner.
"We recognize the growing importance of the Asian economies in the world," the OECD's director for science, technology and industry, Takayuki Matsuo, said.
"Particularly under the current economic downturn, since some Asian economies are growing strongly, contributing to the recovery of the world economy."
Several Asian countries had made "impressive strides" in undertaking structural changes to make their economies more knowledge-based since the 1997-1998 Asian economic meltdown, he said.
Singapore, Taiwan and Hong Kong were seen as "getting closer by some indicators to OECD economies and in some cases beyond" the OECD average.
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