In recent years, contributions to private defined-benefit plans have declined significantly as an increasing part of these plans’ accrued benefit liabilities have been met through a rise in the market value of their equity holdings. Offsetting this decline, to some extent, has been an increase in dividend and other capital income.
We have to be outward looking and our objective should be to bring about coherence and consistency in our macroeconomic policies that attract direct foreign investment. The Annual Report of ACU for the current year (2004) indicates that even though intra-regional trade is growing, the operations through the Asian Clearing Union are limited. Our efforts to expand its membership have not as yet succeeded.