Asia-Pacific region has demonstrated remarkable economic resilience in 2024, supported by strong exports, especially in high-tech sectors, robust investment, and a moderate recovery in domestic demand.
While the South-East Asia benefited from the spike in global electronics demand and North and Central Asian economy remained resilient driven by domestic demand and intra-regional trade, the economic growth in South and Southwest Asia moderated. The Pacific economies continued their recovery path, although debt vulnerabilities remain a concern.
WTC Mumbai will organize its annual flagship event, the Global Economic Summit, on the theme “Asia-Pacific: Driving Global Trade” from 20th to 22nd August 2025 to discuss trade, investment and tourism opportunities in this diverse and rapidly growing region. The Summit aims to promote strategic business collaboration among MSMEs, Startups and women entrepreneurs in the region besides developing a roadmap to channel collective efforts toward inclusive and sustainable growth.
The Summit will discuss economic outlook for the region which is expected to remain broadly stable, with average GDP growth projected at 4.5% for 2025 - higher than the global average of 3.3%. The Summit will also discuss the evolving global uncertainties that may pose risks to the region. Particularly, the Summit will guide MSMEs from the region in navigating through challenges such as high inflation, persistently high interest rates, escalating trade tensions, and deepening geopolitical risks.
In recent times, there has been signs of slowdown in labour productivity in the region. Between 2000 and 2019, labour productivity growth declined significantly across several subregions. China saw a drop from 9.8% to 6.9%, and South and South-West Asia from 5.0% to 3.5%. This deceleration threatens to trap many economies in the middle-income bracket, limiting their ability to achieve long-term prosperity.
The region is also facing the challenge of the urgent need to embrace a green economic transformation. Policymakers are now grappling with how to sustain economic growth while transitioning towards greener, more resilient models of development. This shift requires strategic interventions, lifting labour productivity, upgrading economic sectors, and tapping into the emerging opportunities offered by green value chains.
To escape the middle-income trap, Asia-Pacific countries must adopt three critical strategies: strengthen the state’s role in championing sectoral upgrading, leverage green value chains for future growth, and foster inclusive regional cooperation. These measures must be accompanied by prudent macroeconomic management. Strengthening fiscal resilience is essential. The development of climate-resilient financial systems is equally crucial. Financial institutions should integrate green policies, promote sustainable lending, and ensure climate risks are factored into investment decisions.
As climate and economic challenges transcend borders, countries in the region must collaborate on shared innovation, harmonized regulations, and cross-border financing solutions. By aligning their growth visions and making collective efforts, the region will be better positioned to leverage its competitive strengths and foster sustainable, inclusive growth. The Summit will act as an effective platform in channelizing these efforts for a coherent strategy to effectively navigate the contemporary challenges faced by the region.
For more information about the Summit, please visit GES website – https://www.gesmumbai.com/
