Improvement of ASEAN-EU trade ties called for

JAKARTA (JP): Vice President Try Sutrisno yesterday called on the Association of Southeast Asian Nations (ASEAN) and European Union (EU) to eliminate trade barriers.

In his address at the ASEAN-EU Industrialists' meeting, the Vice President said the mutually beneficial cooperation between the Association of Southeast Asian Nations (ASEAN) and the European Union (EU) could only be effectively implemented if both parties were able to eliminate prevailing obstacles.

Any cooperation between the two regional powers should be based on the spirit of mutual understanding, mutual respect and mutual benefit, he said.

"This principle can only be realized if each party continuously upholds the win-win or mutual benefit principle, and not the win-lose or the mutual lose principle," Try said in his address to 55 participants of the two-day roundtable meeting at Merdeka Selatan Palace.

The free trade and open economy system has tried to eliminate obstacles in arranging the exchange of goods and services between countries or economic groups, he said.

"This, however, can only happen if there has been just cooperation between countries and between economic groups," Try said.

He reminded the European entrepreneurs that the ASEAN region remains a lucrative market despite the economic turbulence affecting some of its member countries.

He said the international community, including the EU, must be proactive in assisting the region to resolve the crisis for their own interest.

"If many countries in the world are experiencing the same monetary and economic crisis as what has happened today, the implementation of free trade and an open economy system, which we are trying to realize, will probably be delayed if it can not be realized," said Try.

President of the ASEAN Chambers of Commerce and Trade, Aburizal Bakrie, appealed to European financial institutions and creditors to roll over the debts of Indonesian companies.

"With the support of our European partners, notably our creditors and financial institutions, I am optimistic about a return to at least a moderate growth within two years which will then enable us to honor our external obligations as scheduled," said Aburizal in his report to Try.

Indonesia's foreign debt totaled US$117 billion as of September, including $65 billion owed by the private sector. (prb)