JEJU, South Korea, May 16 (Xinhuanet) -- Delegates at the ongoing ADB annual meeting here on Sunday called for further structuring reform, improved governance, balanced development and support to private sectors in Asia-Pacific region to achieve the goal of reducing poverty.

    The region is on track to reach the Millennium Development Goal(MDG) of halving absolute poverty by 2015, said Adrian Schlaepfer,Alternate Governor for Switzerland at the second-day session of the three-day annual meeting of the Board of Governors of the Asian Development Bank.

    But there are still a lot of work to be done. The current favorable economic environment offers a unique opportunity for accelerated reform, he said, suggesting the governments in the region strengthen financial markets, implement structural reforms to improve the investment climate, take measures to enhance the efficiency of the public sector, and to adopt socially inclusive policies to cope with the rapidly growing income inequalities.

    As the region's growth prospects remain closely linked to global development, Schlaepfer said, "the industrialized countriesshould and can make an important contribution."

    He urged them to consolidate growth by reducing external and fiscal imbalances and addressing potential economic risk and vulnerability, and must deliver upon their free trade commitments,in particular to improve market access and phase out distorting agricultural subsidies.

    While many noted the importance of economic growth in the region, Ignazio Visco, Alternate Governor from Italy, stressed that income inequality must be urgently addressed.

    "Poverty reduction also requires more efforts to attain achievements in especially important aspects such as health, education and good governance," he said, holding that this is the core of the Millennium Development Goals.

    To reach these goals in the Asian and Pacific region, stronger efforts by all stakeholders are required, he said, first by the developing countries themselves, but also by the industrialized world and the international institutions, mainly the ADB.

    As most of the delegates talked about the role of governments in the economic development, some especially emphasized more support to private sectors.

    There is a growing consensus that a robust private sector is critical to growth and poverty reduction and support for small enterprises is particularly important, said John B. Taylor, head of the US delegation.

    "No country has achieved sustainable growth without a robust small business sector and no country can hope to foster innovationand generate jobs without small business growth," Taylor said.

    His view was shared by Australian head of delegation Richard Edward Murray, who called on the ADB to redouble its efforts to deliver private sector development that is country-owned and effective.

    While noting that good governance is essential for sustainable development and achieving the Millennium Development Goals, Ambassador Ole E. Moesby, Governor from Denmark, called for liberation of international trade.

    He said that the poorest developing countries must be proved with capacity and the tools necessary to benefit from international trade.

    He said the ADB has taken important initiatives in Central Asiaand in the Mekong region. It should work together with other donors to expand such support.

    "We encourage ADB to formulate in policy for trade and development with the overall aim of contributing to poverty reduction the region," said the Ambassador. Enditem