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Agricultural investment to meet future food needs - Closer cooperation needed in Asia-Pacific

27 Sep 2010 -- Gyeongju - Agricultural minister Yoo Jeongbok offered assistance from the Republic of Korea for innovative small-scale, intensive, high-yielding and safe farming technologies for developing countries.

Opening the 30th session of the FAO Regional Conference for Asia and the Pacific in Gyeongju today, Minister Yoo called for "each country to increase investments in agriculture and enhance farm productivity."

He also urged the 44 countries of the Asia-Pacific region to promote cooperation in the region to "overcome various challenges such as food insecurity, climate change and natural disasters."

Having achieved self-sufficiency in rice, the Republic of Korea wishes to share its know-how with developing countries to help with agricultural technologies and infrastructure, more durable crop varieties and more efficient methods of farm mechanization and farming organization.

In his opening remarks to the conference, FAO Assistant Director-General Hiroyuki Konuma, Asia-Pacific, emphasized serious challenges in front of us to attaint food security, the main ones being the stagnation of crop productivity, the impact of climate change, natural disasters, and high and unstable food prices.

Mr Konuma explained: "The FAO Initiative on Soaring Food Prices provided direct emergency assistance to ten Asian countries and 14 Pacific Island Countries to improve the food security and nutritional status of vulnerable households and small farmers by providing necessary inputs to boost agricultural production."

He said this concept was further expanded by mobilizing US$101 million under the European Food Facility to assist seven countries in the region. The seven countries are: Afghanistan, Bangladesh, Cambodia, Nepal, Pakistan, the Philippines and Sri Lanka.

The greatest challenge before us today is to accelerate progress towards achieving the World Food Summit and the MDG-1 targets of halving the number and proportions of the undernourished, the FAO statement added.

The present situation of high food prices and increased numbers of hungry people are the result of the low priority given to agriculture in the last three decades," said Mr Konuma. Official development assistance to agriculture declined substantially - from 20 percent in 1979 to 5 percent in 2007.

"Although the recent food crisis has gained the attention and support of developed countries and international financial institutions for increased investment in agriculture, the level of support pledged still falls short of the required amount," said Mr Konuma. "To meet the food requirements in 2050, US$120 billion needs to be invested in the agriculture sector annually in Asia and the Pacific Region. The present level of investment, both from public and private sector is estimated at US$80 billion." The region this should be ready to increase annual agricultural investment by 50 percent between now and 2050.

FAO studies suggest that real food security for the region will require courageous steps from governments and international organizations to encourage investment in agricultural infrastructure so that the potential of untapped food production will flourish. These efforts will need to be underpinned by a web of safety nets to ensure that the basic food needs of the poorest of the poor are met until they can benefit from improved economic conditions.

In conjunction with the FAO conference, a consultation of Civil Society Organizations is held today and Tuesday 27 and 28 September - see http://csomtgfaoaprckorea.blogspot.com

Media accreditation and registration : http://www.fao.org/world/regional/rap/conference_30th_APRC_News_room.asp

Media follow-up inquiries can be addressed to:

Diderik de Vleeschauwer
Tel: +66 81 899 7354 or +82 10 7364 8003
Email: Diderik.DeVleeschauwer@fao.org

More information at: http://www.fao.org/world/regional/rap/conference_30th_APRC.asp