Asia plays strong role to save world`s economy

Asia plays strong role to save world`s economy

President Susilo Bambang Yudhoyono. (ANTARA)

"Asia could play a role as a 'taylor' and 'engine' of global growth."
Vientiane, Laos (ANTARA News) - Indonesian president Susilo Bambang Yudhoyono said Asia could play a strong role as an engine of economic growth to save the world from economic recession.

"I believe Asia could play a strong role. Asia could play a role as a 'taylor' and 'engine' of global growth," he said here on Monday.

He said economic growth in Asia has been quite high in the midst of current global crisis and recession.

The growth also occurred while crisis is still continuing in Europe and is not known when it would end, he said.

He said the European crisis has now spread to affect other regions including Asia.

In view of that he said Asia`s experience in overcoming its economic crisis decades ago could be taken to deal with the current crisis so that it would not cause recession across the region.

Asia, he said, still has the potential to further grow in view of investment opportunities still exploitable, referring as an example to infrastructure projects in Indonesia.

He said investment in the projects in the Master Plan for Acceleration and Expansion of Indonesian Economic Development (MP3EI) could create more jobs that could boost people`s buying power that could also be enjoyed by the region or other countries through increased trade.

President Choummally Sayasone of Laos meanwhile said at the opening of the 9th Asia-Europe Meeting he hoped the current global economic and financial crisis could be discussed in the meeting.

"I hope the ASEM Summit would discuss and exchange ideas and experiences to find the right solution to minimize the impact of the current global economic and financial crisis," he said.
(T.M041/KR-BSR/H-YH)

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