Jakarta gets serious on free trade<\/p>\n
At first glance, the speech this week by Indonesia's President
\nSoeharto on the need for free trade didn't seem like anything out
\nof the ordinary.<\/p>\n
In a nutshell, Mr. Soeharto said Indonesia had no choice but
\nto take the free-trade road. \"Like it or not, want it or not,
\nprepared or not, the era of free trade will arrive in its own
\ntime,\" he said in a speech at central Java's prestigious Gadjah
\nMada University.<\/p>\n
Cynics have believed that Jakarta's main aim at the APEC
\nmeeting was to merely win some political points. They said Mr.
\nSoeharto needed a big \"do\" to raise his international profile at
\na time when he needed to show something tangible as concurrent
\nchairman of the Non-Aligned Movement. Many, including some local
\nlegislators and business leaders, were also skeptical whether the
\nIndonesian economy was ready for free trade, given the entrenched
\nnature of the pampered and the protected among local industries.
\nBut judging from the tone of Mr. Soeharto's statement this week,
\nand the measures that have followed in quick succession, there is
\nclearly genuine conviction in Jakarta on the virtues of the free
\nmarket.<\/p>\n
For a developing country as big as Indonesia, finding faith in
\nopen competition after decades of a protectionist bent cannot be
\na mere mood swing. Mr. Soeharto's statement adds to the evidence
\nthat he was the one who made the difference at the Bogor meeting.
\nHad it been the old Indonesia, APEC's hopes for free trade in the
\nregion could have fallen flat on its face. Of course, much will
\nnow depend on how effectively APEC members carry out the
\nresolutions of the Bogor declaration. This remains to be seen.
\nBut if the resolutions come to fruition, as they must, so long as
\nthe political will remains firm, credit must go to Mr. Soeharto
\nfor being bold enough, at the appropriate time, to change the
\ndirection of his country's economy for the benefit of his people.
\nWith free trade, the Asia-Pacific will prosper and so will
\nIndonesia.<\/p>\n
-- Business Times, Singapore<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/jakarta-gets-serious-on-free-trade-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }