Improvement of ASEAN-EU trade ties called for

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)