RI urges APEC plan on new financing

RI urges APEC plan on new financing

JAKARTA (JP): Indonesia has urged members of the Asia Pacific
Economic Cooperation (APEC) forum to formulate a new financing
scheme to support small and medium-scale businesses looking for
sustainable economic growth in the region.

"I put forth the proposal at the APEC meeting of ministers and
senior officials in Osaka, Japan, last week," Minister of Trade
Tunky Ariwibowo told reporters after meeting with President
Soeharto at the Bina Graha presidential office yesterday.

Tunky, together with Minister/State Secretary Moerdiono
yesterday reported to the President on the results of the Osaka
meeting held on Oct. 22 and Oct. 23.

During the APEC meeting, Tunky said, Indonesia called for the
region's developed countries to provide more aid for small and
medium-sized businesses to enable them to deal with the possible
relocation of industrial plants which no longer have a
competitive edge in developed countries.

Promotion

He said that APEC's members should also support the promotion
of the use of high-quality components produced by small and
medium-scale companies of developing countries for the global
machinery industry.

"I would say that once developing countries are capable of
producing components of high quality they will have better access
to the world's machinery industry," he said.

Tunky, who was the head of the Indonesian delegation in the
APEC meeting in Osaka, said he also suggested that the advanced
and developing countries promote cooperation in the venture
capital business.

He said capital markets and financial institutions should have
special programs to help small and medium-sized companies develop
their businesses.

The two-day meeting ended with a commitment to promote studies
on regional interdependence, more open trade and deregulation for
small businesses, high attention on environment ethics, human
resources development and technology cooperation.

Agreements reached at the Osaka conference will be reported at
the second APEC informal summit in Bogor, south of here, on Nov.
15, Tunky said. (fhp)