Indonesia urges end to protectionism

Nusa Dua - Indonesian President Susilo Bambang Yudhoyono on Sunday urged countries in Asia and the Pacific to remove barriers to trade and investment to spur growth.

"We all need to do our part to prevent protectionist policies and continue the path to trade liberalisation," Yudhoyono told a business forum on the sidelines of the Asia-Pacific Economic Co-operation meeting on the Indonesian resort island of Bali.

Yudhoyono said while advanced economies were experiencing economic recovery, emerging countries like Indonesia were suffering from trade deficits, capital flight and depreciating currencies.

Countries in the region need to intensify efforts to stimulate investment while continuing to pursue structural reforms, he said.

"We need to develop more and better infrastructure. We need to make it cheaper and faster to conduct trade."