Prevent protectionism, continue trade liberalization effort: Yudhoyono

Prevent protectionism, continue trade liberalization effort: Yudhoyono

APEC CEO Summit (ANTARA FOTO/Wahyu Putro A) ()

"We all need to do our part to prevent protectionist policies, and continue on our path of trade liberalization in ways that uplift the well-being of all our citizens," Yudhoyono said.
Nusa Dua, Bali (ANTARA News) - President Susilo Bambang Yudhoyono during the opening ceremony of the APEC CEO Summit here on Sunday called on member economies to prevent protectionism and continue the region`s effort to facilitate more trade liberalization in the future.

"We all need to do our part to prevent protectionist policies, and continue on our path of trade liberalization in ways that uplift the well-being of all our citizens. We must also ensure that our trade relations are not only strong but also balanced," he said.

The President also reiterated the need to intensify efforts to stimulate investment within the Asia-Pacific region so as to maintain growth and create jobs. "There is tremendous opportunity for this as we are experiencing a rapid growth of middle-class," he said.

Yudhoyono also highlighted the importance of APEC to tackle inefficiency in the supply chain. "We have to make it easier, cheaper, and faster to conduct trade in goods and services across borders. In this regard, it is crucial that we promote the APEC 2013 priority in connectivity. We welcome public-private-partnerships to develop needed infrastructure," he added.

Some 1,200 business leaders are expected to take part in the three-day APEC CEO Summit in Bali. The event is expected to provide opportunities for business executives to engage in dialogue with presidents, prime ministers and ministers of foreign affairs and trade from APEC economies. It also aims to discover business opportunities through networking between CEOs from hundreds of top Asia-Pacific companies and government representatives in the region.

A number of CEOs are expected to deliver their speeches to the event, including Frank Ning from COFCO Corporation China, Raymond Mcdaniel from Moody`s Corporation, Tony Fernandes from AirAsia, Scott Price from Walmart Asia and Vice Chairman of General Electric John Rice.

From the government sector, there are several figures expected to give speeches, namely Indonesia`s President Susilo Bambang Yudhoyono, Singapore`s Prime Minister Lee Hsien Long, Japan`s Prime Minister Shinzo Abe and Russia`s President Vladimir Putin.(*)

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