ASEAN-China form Business Council

ASEAN-China form Business Council

The Jakarta Post, Jakarta

The Association of South East Asian Nations (ASEAN) and Chinese
business leaders signed here on Thursday an agreement to
establish the ASEAN-China Business Council in a ceremony
witnessed by President Megawati Soekarnoputri and visiting
Chinese Premier Zhu Rongji.

The establishment of the council followed an accord signed by
the ASEAN and Chinese leaders this week in Brunei Darussalam to
form a free trade area covering the ASEAN countries and China
over a 10-year period, chairman of the Indonesian Chamber of
Commerce and Industry Aburizal Bakrie told reporters prior to the
ceremony.

Also present at the ceremony were Coordinating Minister for
the Economy Dorodjatun Kuntjoro-Jakti, Minister of Industry and
Trade Rini Soewandi and Minister of Foreign Affairs Hassan
Wirajuda.

No speeches were delivered by either Megawati or Zhu during
the ceremony at the Shangri-La hotel.

Aburizal said many Indonesians were worried that the ASEAN-
China Free Trade Area would bring losses to local companies given
the increasing economic power of the world's most populous
nation.

But, Aburizal said he believed Indonesian businesses could
benefit much from the free trade scheme if they had prepared
themselves well, Antara news agency reported.

The regional free trade area would become the world's largest
trade bloc.

Earlier in the day, Zhu also paid courtesy calls on Speaker of
the People's Consultative Assembly (MPR) Amien Rais and Speaker
of the House of Representatives Akbar Tandjung.

Amien told reporters after the meeting that Zhu reiterated
China's support for Indonesia's efforts to recover from the
prolonged economic crisis.

"China is ready to help Indonesia as much as it can," Amien
quoted Zhu as saying, adding that Zhu also emphasized that China
was ready to cooperate with Indonesia in many walks of life.

During the meeting, Zhu also underlined China's opposition to
any global hegemony, Amien said, but he did not name any country.

Zhu voiced similar statements during the meeting with Akbar
and other House leaders.

Legislator Sabam Sirait told reporters that during the meeting
some legislators voiced the idea of holding a conference
involving all Asian and African countries, resembling the Asia-
Africa Conference in Bandung in 1955, to promote solidarity among
the nations in both continents.

Zhu said the idea was good, but China had yet to fully
consider it.