South Asia: Regional Trade Pacts Must Create - Not Divert - Trade to Reduce Poverty: World Bank Report; Global Economic Prospects 2005 predicts highest growth in 30 years for developing countries, South Asia to grow six percent.

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M2 PRESSWIRE-16 November 2004-WORLD BANK: South Asia: Regional Trade Pacts Must Create - Not Divert - Trade to Reduce Poverty: World Bank Report; Global Economic Prospects 2005 predicts highest growth in 30 years for developing countries, South Asia to grow six percent(C)1994-2004 M2 COMMUNICATIONS LTD RDATE:11162004 WASHINGTON -- Economic growth in South Asia, while still strong, has declined to 6 percent in 2004, from 7.5 percent in 2003, according to the Global Economic Prospects 2005: Trade, Regionalism and Prosperity, a report launched by the World Bank today.

The slowdown in the region can be attributed to adverse weather conditions and a decline in agricultural output due to poor rainfall. For 2005, regional gross domestic product is expected to...