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Our Bureau

Hyderabad , July 11

THE Executive Council of World Tourism Organisation has ratified the proposal to set up ST-EP (Sustainable Tourism-Eliminating Poverty) Foundation in association with the Republic of Korea.

Korea had offered to establish the headquarters of the new ST-EP Foundation in Seoul and a commitment to provide long-term financial support to the tune of $5 million.

Mr Geoffrey Lipman, Special Advisor to the World Tourism Organisation Secretary-General, said the foundation would have a twin objective of taking up research in tourism and supporting projects to complement the research with a sustainability and -alleviation dimension.

The research objectives would be synchronised with the millennium development goals chartered by the United Nations.

Talking to reporters here on Saturday, Mr Geoffrey, who was in the city to attend the three-day EC meeting, said the foundation would seek contributions from private sector and Governments.

Mr Geoffrey, who is responsible for ST-EP implementation, said the fund would have a corpus of $100 million by 2015 and would support 5,000 small projects.

The 73rd EC meeting of the organisation, which discussed Doha, called for liberalisation of trade in tourism services and asked the Secretary-General to work with World Trade Organisation and other multilateral bodies.

More Stories on : Tourism | Andhra Pradesh | WTO

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