Trade Protectionism is Not G20’s Choice, Including Indonesia

10 November, 2011 | Source: Republika

The leaders of the G-20 agreed to avoid protection measures on trade instead developing a framework of multilateral agreements to assist developing countries in developing their export.

- Unofficial Translation -

 

French President Nicolas Sarkozy, during a press conference at the International Press Centre, Cannes, said that the discussions have shown positive progress on several issues which could lead to fruitful agreements and action plans at the end of the summit.

"If we talk about world trade, all countries agree that protectionism is not the preferred solution at this time. Trade and commerce should continue to take place freely, but the message (of certain interest) must be obtained," said Sarkozy.

He explains, all countries should agree not to repeat mistakes on trade strategies that ultimately create economic failure as occurred last year.

"We are looking for new methods to develop arrangements with multilateral cooperation to protect the developing countries which require the existence of free trade that supports their export," he said.

France itself, said Sarkozy, filed a tax outlook for financial transactions. "This tax issue can not be ignored in our efforts to find solutions," he said.

While Indonesia has a number of views on the need of financial assistance scheme for poor and developing countries to continue efforts on sustainable development and encourage economic growth that contributes to regional and global economy.

President Susilo Bambang Yudhoyono will continue to encourage G-20 members to seek global economic growth despite the unsolved crisis situation in Europe.

Indonesia will also affirm the importance of strengthening the economy, rebalancing the global economy and the stabilization of banks and financial markets, so they could bring positive impact for the global economy.

The President also suggests the G-20 to uphold efforts to suppress the members of unemployment and maintain price stability. With that policy, said the Head of State, until the end of 2011 inflation is expected to be below 5 percent.

For non-economic issues,
Indonesia will highlight issues on food and energy security, climate change, poverty reduction, corruption, social justice, and narrowing the development gap.

Yudhoyono is expected to give a press conference regarding the G20 Summit to the official group of reporters on his way back home considering schedule of the working group on the second day of the summit is very tight.


 

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President Joko Widodo (Jokowi) plans to visit Turkey to develop partnership in strategic industry and economy with the country, Foreign minister Retno Marsudi said here on Monday at the state palace after a meeting prior to the presidents visit to Turkey and Germany.
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