Asia-Pacific: in its annual report on investment in the world, the United Nations Conference on Trade and Development (UNCTAD) has noted that flows of Direct Investment Abroad (DIA) in the Asia-Pacific zone slightly fell in 2002 from USD 107 bn in 2001 to USD 95 bn in 2002. The fall varied to a certain extent on the specific region, country and branch of activity. Therefore, investments fell in 31 of the 57 counties in the region but the flows in several countries were noticeably higher than in 2001. Asia was less affected and was one of the regions were liberalisation was the most rapid with the setting up in 2002 of new measures at national levels and the conclusion of agreements facilitating DIA. More particularly, flows to North East Asia fell from USD 78 bn in 2001 to USD 70 bn in 2002. Investments to Hong Kong (China), the Chinese province of Taiwan and the Republic of Korea fell by 42%, 65% and 44% respectively, which is in part due to the transfer by Trans-national companies of their production activities to places where costs are lower. The most notable exception is China where growth sustained by economic activity and other advantages such as cheap labour have seen DIA increase by 13% in 2002 (USD 53 bn). Investment also increased in Mongolia. DIA in South East Asia fell slightly, from 15 bn in 2001 to 14 bn in 2002. Some countries in the outlying region, such as Brunei, Darussalam, Malaysia and the Philippines benefited from greater amounts than in 2001. In South Asia, DIA increased from USD 4 bn in 2001 to 4.6 bn in 2002. In India, Pakistan and Sri Lanka, this also grew, whereas flows of other counties in this region fell. Flows to Western Asia fell more significantly than in other regions, from USD 5.2 bn in 2001 to 2.3 bn last year due to geo-political instability. However, DIA grew in a certain number of countries such as Bahrain and Kuwait. Flows to Central Asia grew in 2002 due to a marked increase in DIA in Azerbaijan from USD 227 million in 2001 to 1 bn. In Kazakhstan investment dropped by 9% compared to that in 2001. In the Pacific Isles, DIA fell from USD 159 million in 2001 to 140 million. Fiji and Papua New Guinea were the main beneficiaries.