ASEAN +3 Leaders Emphasize Need to Cooperate in Tackling Crisis

22 November, 2011 | Source: ANTARA News

Nusa Dua, Bali (ANTARA News) - ASEAN Plus Three (China, Japan and South Korea) leaders at a meeting here on Friday emphasized the need to enhance cooperation in tackling global financial crisis.

"Many things have happened during the past years starting from security instability to global financial crisis. The dynamic situation in the world nowadays should make us aware that we need to strengthen cooperation and turn challenges into opportunities," Indonesian President Susilo Bambang Yudhoyono said here on Friday at the opening ceremony of the 14th ASEAN+3 Meeting in Bali Nusa Dua Convention Center (BNDCC).

Meanwhile, China`s Premier Wen Jiabao who attended the meeting said ASEAN+3 countries need to take stronger measures to enhance cooperation, increase internal growth momentum and deepen cooperation to improve the region`s ways to defeat global crisis.

During the Friday meeting led by President Yudhoyono, Premier Wen suggested that ASEAN+3 countries accelerate the liberalization of trade between them, bring the financial and monetary cooperation in the region to higher level.

Wen also emphasized the need for ASEAN+3 countries to carry out research in new areas settlement of new regional trade in local currency and seek better way to reduce time and cost of trade and mitigate the impact of financial crisis in the region.

"We must also actively promote the building of regional financial safety net and improve East Asia capacity to guard against financial risk," he added.

Meanwhile, the South Korea`s President Lee Myung Bak on his speech at the Friday meeting expressed concern that the crisis happening in some European countries and the United States might give negative impacts to the ASEAN+3 countries.

"It is important that we take steps to strengthen financial safety net. I hope the cooperation under the Chiangmai Initiative will be stregthened in the future," he said, adding that an ASEAN Plus Three macro-economic research office had been set up in Singapore to monitor the economic situation in member states.

 

The Asian Development Bank (ADB) has projected that Indonesias economic growth will continue to strengthen and be resilient to global uncertainties in 2017 and 2018.
The governments of the United States (US), Australia, and Sweden have lauded the Indonesian governments diplomatic steps to provide humanitarian assistance to communities in Rakhine State, Myanmar.
President Joko Widodo (Jokowi) said Indonesia already enters years of low inflation, with inflation around 3 percent in the past two years.
President of the World Bank group, Jim Yong Kim, here on Tuesday expressed his support to the Indonesian governments plan on the tax reform program, which aimed to increase the state budgets income.
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.
Indonesian Foreign Minister Retno Marsudi and her Maldivian counterpart Mohamed Asim will hold a bilateral meeting in Jakarta on Wednesday (June 21) to discuss the cooperation in tourism sector.
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