Minister warns about trade liberalization<\/p>\n
JAKARTA (JP): State Minister of Investment Sanyoto
\nSastrowardoyo warned yesterday that Indonesia would become a
\nvictim of global trade liberalization if it failed to prepare
\nitself.<\/p>\n
Speaking before 200 experts and cadres of the ruling Golkar in
\nUjungpandang yesterday, he said that trade liberalization would
\nopen every country's market to every country's products and
\ninvestment.<\/p>\n
\"As a result, competition will be increasingly tougher. And
\nonly fully prepared countries will benefit. Those that are not
\nprepared will fall victim to the liberalization,\" he was quoted
\nby Antara as saying.<\/p>\n
He said Indonesia should improve its competitiveness on the
\nworld market in order to win the competition.<\/p>\n
Sanyoto said that developing small-scale businesses and
\ncooperatives all over the country was a key factor to improving
\nthe country's competitive edge on the world market.<\/p>\n
But he said that a lack of investment funds at home stood in
\nthe way of developing its economy. During the current sixth five-
\nyear development plan, ending March 31, 1999, the country needed
\na total investment of Rp 815 trillion (US$339.6 billion).<\/p>\n
Of the total investment, some $108 billion had been realized
\nduring the first four years of the sixth five-year development
\nprogram.<\/p>\n
He underlined the importance of giving priority to national
\ninterest in dealing with the international agreement on trade
\nliberalization.<\/p>\n
During the meeting, which was also attended by Minister of
\nCooperatives and Small enterprises, Subiakto Tjakrawerdaya;
\ndeputy chairman of Golkar, Warno Hardjo; secretary-general of
\nGolkar, Ary Mardjono; and Siti Hardiyanti Rukmana, the cadres and
\nexperts discussed Golkar's ideas for the 1998 state guidelines.
\n(bnt)<\/p>",
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