Phnom Penh –
President Joko Widodo (Jokowi) attended the 25th ASEAN Plus Three (APT) Summit today which was held at the Sokha Hotel, Phnom Penh, Cambodia. During the event, Jokowi called on APT leaders to unite to tackle the crisis.
The summit consisted of the leaders of ASEAN plus the leaders of the People’s Republic of China (PRC), Japan and the Republic of Korea. The 25th ASEAN Plus Three Summit was attended by ASEAN leaders, PRC Premier Li Keqiang, Republic of Korea President Yoon Seok-yeol and Japanese Prime Minister Fumio Kishida.
“It was the APT that saved us from the 2008 global financial crisis. It was solidarity and cooperation that made the region’s economy viable. Now we are once again challenged by a more devastating global crisis. I truly believe that in the same spirit we can face the current crisis,” Jokowi said in a press release received on Saturday (12/11/2022).
Jokowi said the APT must focus on at least three issues, namely the food crisis, economic downturn, regional security and the stability of the peace.
“First of all, we need to avoid a food crisis, strengthen regional food security mechanisms and increase APT’s emergency rice reserves,” explained the President.
According to Jokowi, sustainable rice production technology is badly needed, and production capacity also needs to be integrated with APT members’ logistics system to secure supply chains and stabilize rice prices. Jokowi also spoke of an economic recession that all countries must avoid.
“Second, the regional economic downturn must be avoided and financial stabilization must be carried out. The synergy of various APT financial instruments must be realized, especially the multilateralization of the Chiang Mai initiative. When there is a threat of financial crisis , this synergy allows us to get early warning and liquidity support,” said Jokowi.
In addition, Jokowi also stressed the importance of strengthening the national financial infrastructure through close coordination between financial institutions and the central bank, increased domestic resource mobilization and careful inflation control. Jokowi believes APT can do all of these things so that the region continues to be the epicenter of growth.
“Thirdly, regional stability, security and peace are absolutely necessary. Competition must be managed properly so that it does not turn into conflict and international law must always be respected,” said Jokowi.
During the event, Jokowi was accompanied by the Coordinating Minister for Policy, Law and Security (Menko Polhukam) Mahfud MD, the Coordinating Minister for Economy (Menko Perkoan) Airlangga Hartarto, the Minister for Foreign Affairs (Menlu ) Retno Marsudi and the Minister for State Secretary (Mensesneg) Pratikno .
(zap/get)
