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Indonesian president calls for trade, investment improvement between Latin America, ASEAN regions

07-09-2012 14:39 BJT

JAKARTA, July 9 (Xinhua) -- Indonesian President Susilo Bambang Yudhoyono called on business people in ASEAN and Latin America regions on Monday for more bilateral trade, investment as the two regions have plenty of opportunities to be explored for the benefits of people in the two emerging markets, local media reported.

"Reciprocal investments between the two regions were relatively lower if compared to those of conducted in other regions," the president said in his remarks to open ASEAN-Latin America business forum held here.

He added that the two regions have enormous economy potentialities with each respective economies has their own leverages that could benefit one another.

UN Economic Commission for Latin America and Caribbean region ( UNECLAC) has learned that growth in the two regions may rise up to 4.1 percent this year, the president said. "This would be an excellent achievement as global economies would see diminishing growth," the president said, adding that that the Gross Domestic Product (GDP) in Latin America has reached 6.87 trillion US dollars at the time being.

On the other side, the president said that ASEAN is a region that sees rapid growth in the last few years. "Economic growth on ASEAN region is estimated to reach handsomely at 7.2 percent this year with estimated GDP at 3.36 trillion US dollars," the president said as quoted by the Antara news agency.

The president pointed out that those facts should make business people in the two regions convinced to further explore investment and trade ties.

The two-day business forum is attended by business people and senior state officials, discussing possibilities to boost up trade and investments between the two regions.

Editor:Wang Xiaomei |Source: Xinhua

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