Aquino leaves for Indonesia to attend APEC Summit-A A +A
Sunday, October 6, 2013
MANILA - President Benigno Aquino III left for Bali, Indonesia Sunday to attend the Asia Pacific Economic Cooperation (APEC) leaders summit.
Aquino will stay in Indonesia until October 8. On October 9 and 10, Aquino will proceed to Brunei for the 23rd Association of Southeast Asian Nations summit.
In the APEC summit, Aquino will invite the international business community to “take a look and invest further in the Philippines,” Communications Secretary Ricky Carandang earlier said.
Indonesia's President Susilo Bambang Yudhoyono, meanwhile, is urging Asian business and political leaders to do more to counter the economic headwinds confronting developing countries by dismantling barriers to trade and investment.
Yudhoyono told an annual business forum on the sidelines of a regional summit that as advanced economies are gaining speed, emerging economies are slowing, dogged in some cases by trade deficits, capital flight and weakening currencies.
He said Sunday that the top priority of policymakers should be to prevent protectionism and to continue opening markets to maximize prosperity in the region.
He said Indonesia, now a trillion dollar economy with a fast-growing middle class, is undertaking reforms to promote investment and create jobs. (AP/PNA/Sunnex)