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NEWS UPDATES 6 October 2010

Indonesia to raise sustainable economy issues

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Indonesia will raise sustainable development issues during the two-day Asia-Europe Meeting (ASEM) in Brussels, sharing its experience of facing the economic crisis, says the Indonesian Foreign Ministry.

The Indonesian delegation is led by Foreign Minister Marty Natalegawa.

Indonesia, the largest economy in Southeast Asia and the country with the third largest economic growth, has shown its resiliency at a time when many economy powers stumbled upon the recent financial crisis.

"In the ASEM forum, Indonesia has the chance to raise the issue of sustainable development. Our experience in dealing with the economic crisis has become an inspiration not only for developing nations but also for developed nations.

This shows that we are acknowledged for our ability to deal with the crisis," said Dian Wirengjurit, director for regional cooperation at the Foreign Ministry before he left for the meeting , which started Monday.

The China currency controversy has taken the center stage at the ASEM meeting as the European policymakers pressed China on Tuesday for a faster appreciation of its currency to help rebalance the world economy but said Chinese Prime Minister Wen Jiabao had differed with them.

The US and EU accuse China of keeping the yuan artificially low to boost exports, undermining jobs and competitiveness in Western economies.

However, after President Nicolas Sarkozy met Wen later on the sidelines of the summit, a French source said China seemed ready to discuss how to avoid "erratic" exchange rate variations.

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