Protection still needed for vital industries<\/p>\n
JAKARTA (JP): Minister of Cooperatives and Small Enterprises
\nSubiakto Tjakrawerdaya says protection is still needed to enable
\nimportant industries to compete in the free trade era in five
\nyears time.<\/p>\n
"If we do not protect selected products, we'll lose to
\ncompetition. Other countries will continue protectionism by
\ngiving subsidies," Subiakto was quoted by Antara as saying
\nThursday in Ujung Pandang, South Sulawesi.<\/p>\n
He said Indonesia should develop the domestic market under the
\nprinciple of "regulated openness".<\/p>\n
"Openness has to be regulated to control the speed of change
\nand its consequences," he said at a discussion on the draft 1998
\nState Guidelines, sponsored by the ruling Golkar.<\/p>\n
Subiakto said Indonesia should use its comparative edge to
\ncompete in the global market in the free trade era.<\/p>\n
He said Indonesia's comparative advantages were a large
\npotential market, a lot of small, middle and big businesses and
\nvast tracts of productive land for agribusiness.<\/p>\n
"We have to first and foremost control and develop all our
\ncomparative advantages," he said.<\/p>\n
Another speaker at the workshop, I Putu Gde Ary Suta, chairman
\nof the Stock Exchange Supervisory Board, said the globalization
\nprocess of the financial sector and bourses would speed up in the
\n21th century.<\/p>\n
He said the process would create cross-border markets, change
\ninvestment patterns, law enforcement, financial products, enhance
\ninternational cooperation and give birth to young professionals,
\nsaid Putu.<\/p>\n
The workshop also featured Minister of Investment\/Chairman of
\nthe Investment Coordinating Board Sanjoto Sastrowardoyo and
\nChairwoman of Golkar's central office Siti Hardiyanti Rukmana.
\n(jsk)<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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