Australia still confidence in Indonesia's economy<\/p>\n
JAKARTA (JP): Australian remains confident of the economic
\nfundamentals of Indonesia and other Southeast Asian countries
\ndespite the region's currency crises, the country's foreign
\nminister Alexander Downer said yesterday.<\/p>\n
\"Australia's confidence in the fundamentals of the region and
\nits extraordinary prospects for the next fifteen years are
\nunchanged by recent events,\" Downer told an Australia-Thailand
\nBusiness Council Conference in Perth.<\/p>\n
Speculative attacks have shaken the currencies of Thailand,
\nIndonesia, Malaysia and the Philippines following the devaluation
\nof the Thai baht in July. The crisis also hit the normally robust
\nSingapore.<\/p>\n
Downer said he supported measures taken by the Indonesian and
\nMalaysian government in response to the crises.<\/p>\n
Indonesia's package measures on Sept. 3 lifted limits on
\nforeign share holdings, imposed greater budget discipline and cut
\nimport tariffs on raw materials of export-oriented companies.<\/p>\n
Downer said the package was well received by the market.<\/p>\n
He said the fundamentals would remain and he was confident the
\nprudent policy settings would prevail.<\/p>\n
He said Australia could identify its long-term interests by
\nlooking at the region's economic fundamentals and where they were
\nlikely to head in the next decade.<\/p>\n
\"Importantly, several of these key fundamentals are unchanged,
\nfor example the commitment to open economies and continued
\nderegulation and receptivity to inward foreign investment,\" he
\nsaid.<\/p>\n
Australia was also committed to the development of the
\nregional economy, he said. This included its contribution of up
\nto US$1 billion to last month's International Monetary Fund
\nrescue package for Thailand, he said.<\/p>\n
\"Australia is not just a fair weather friend, it is committed
\nto the neighborhood for the long haul,\" he said as reported by
\nthe Australian embassy here.<\/p>\n
Downer also reassured that Australia would remain open and
\nsupportive to racial equality and elimination of all forms of
\nracial discrimination, despite the recent controversies sparked
\nby senator Pauline Hanson, who leads the One Nation party.<\/p>\n
\"The White Paper of Foreign and Trade Policy reaffirms the
\nprinciple which informs the collective actions of over 95 percent
\nof Australians,\" he said.<\/p>\n
\"No amount of inflammatory rhetoric by a maverick rejected by
\n95 percent of the population will change that,\" he said. (das)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/australia-still-confidence-in-indonesias-economy-1447893297",
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