Experts attending an international seminar in Beijing Thursday expressed optimism about the economic recovery of the tsunami-ravaged countries despite the massive death toll of 200,000 and defunct infrastructure facilities inflicted by the disaster.
Bert Hofman, chief of the Economics Unit at the World Bank Office Beijing, said that the impact on the economic situation in the disaster-hit countries is "very limited" thanks to the international efforts to provide relief and aid.
He said that approximately an assistance of US$5 billion from more than 60 donors have been granted so far. More over, there are US$several billion of private donations from worldwide.
This assistance has largely made up the economic damages inflicted and projects for an economic recovery quicker than thought, he said on the seminar under the theme of Post Tsunami: Rebuilding Confidence and Charting the Road in Reconstruction.
Long Yongtu, Secretary-general of the Boao Asian Forum which sponsored the event with the China Red Cross Society, said that a precise and objective analysis of post-tsunami economic situations would have a direct bearing on the feasibility of post-disaster reconstruction.
"It's a good news to learn that the economy in affected regions won't be seriously impacted. This will help lift up the confidence of investors toward Asia and facilitate economic activities in tsunami-ravaged areas," Long said.
Zhang Xuechun, a senior economist of the Asian Development Bank, said that the disaster didn't leave an overwhelming damage because only some coastal countryside relying on tourism and fishing business rather than urbanized industrial centers were attacked.
Given that many countries like Thailand, Sri Lanka and Indonesia have mapped out new measures to attract overseas travelers, Zhang predicted that their sluggish tourism industry will get brisk again in 12 months.
Zhang also announced the latest adjustment of the Asian Development Bank on the economic growth rate forecasts of major affected regions. For instance, the growth rate of Sri Lanka's gross domestic product in 2006 was slowed from six to five percent, while those for Indonesia and Thailand were both brought down to 5. 5 percent. Only India was predicted to basically keep its projected growth rate.
Over 90 delegates from Japan, Thailand, Malaysia, New Zealand, Indonesia and Sri Lanka and many other countries attended the one- day seminar.