EU industrialists back trade barrier removal<\/p>\n
JAKARTA (JP): Industrial representatives of the European Union
\n(EU) supported yesterday the proposal for the need of removing
\ntrade barriers on exports from Indonesia and other Southeast
\nAsian countries to Europe.<\/p>\n
Martin Bangemann, a member of the European Commission of the
\nEU, said yesterday that the EU industrialists strongly backed the
\nproposal to review barriers against exports from Southeast Asia.<\/p>\n
The elimination of the protective measures was important to
\nhelp the region's countries mend their ailing economies,
\nBangemann said.<\/p>\n
\"The removal and loosening of the foreign trade constraints,
\nsuch as the antidumping law, would help Indonesia and other Asian
\ncountries increase their exports in order to recover from the
\ncurrency crisis,\" Bangemann said.<\/p>\n
He was talking after the closing of a two-day meeting of the
\nAssociation of South East Asian Nation (ASEAN)-EU industrialists.<\/p>\n
Bangemann said both ASEAN and EU industry representatives at
\nthe meeting strongly supported reforms that remove constraints on
\nforeign trade and investment and provide stable, transparent and
\nstraightforward application of the rules.<\/p>\n
The EU groups 15 countries, including Germany, France, Italy,
\nthe United Kingdom, Spain, Sweden and Netherlands.<\/p>\n
Goran Lindahl, who jointly cochaired the meeting with
\nIndonesian Chamber of Commerce and Industry (Kadin) chairman
\nAburizal Bakrie, said yesterday that EU participating companies
\nwould increase their investment in Indonesia and the region soon.<\/p>\n
\"Now is the right time to invest in Asian countries, as the
\ncurrency depreciation had made the countries extremely
\ncompetitive,\" Lindahl, also the president and CEO of ABB Asea
\nBrown Boveri, said.<\/p>\n
European investors could expand throughout the region, which
\nhad been badly affected by the currency crisis, he said.<\/p>\n
\"In the short term, there would be more investment from the
\nwest to the east, as there would be more trade conducted from the
\neast to the west as the result of the crisis,\" he said.<\/p>\n
He said Indonesia must make use of the depreciating currency
\nto increase its export capacity and its investment climate.<\/p>\n
The meeting, which started Thursday, discussed ways to promote
\nmutually beneficial business, trade and technology relations
\nbetween the two economic regions.<\/p>\n
Indonesian Coordinating Minister for Production and
\nDistribution Hartarto represented the ASEAN economic ministers
\nduring the meeting while Martin Bangemann represented the EU.<\/p>\n
During the two-day meeting, participants, which included 20
\nbusiness leaders from EU member countries, also discussed issues
\nregarding the current financial crisis and long-term economic
\ndevelopment.<\/p>\n
The EU participants indicated that they were ready to
\ncontribute to restore stability and boost confidence by actively
\nexploring the many investment opportunities in the ASEAN region.<\/p>\n
Minister Hartarto said the EU industrialists were confident
\nthat Indonesia had great potential for long-term investment.<\/p>\n
Bangemann said he was optimistic that the Indonesia economy
\nwould fully recover, especially through bilateral and
\nmultilateral cooperation.<\/p>\n
He said there was a clear-cut belief that the crisis will be
\novercome through economic cooperation.<\/p>\n
Asked if EU creditors would roll over maturing foreign loans
\ngiven to Indonesian businesses, Bangemann said he was confident
\nthat creditors would be flexible in dealing with their debtors.<\/p>\n
\"It would be foolish for them to be less flexible on the
\nmaturing loans, as they would lose their own interests secured
\nhere,\" he said.<\/p>\n
Kadin vice chairman for industry Fadel Muhammad said yesterday
\nthe meeting was a way for Indonesia to lobby the European Union
\nto roll over its foreign loans.<\/p>\n
The grouping agreed to set up their second meeting next April
\nin Europe. (das)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/eu-industrialists-back-trade-barrier-removal-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}