The Association of Southeast Asian Nations (ASEAN) can become an engine of global growth amid the volatile and unpredictable global economy. Indonesian President Joko Widodo said this on Wednesday, speaking as chairman of ASEAN at the opening of the association's summit.
"At the moment, the global economy has not fully recovered, major power rivalries continue to sharpen, the global dynamic becomes more unpredictable," Detik quoted him as saying. Widodo noted that "ASEAN can become the engine of global growth."
The key to this, he said, is ASEAN unity. Widodo explained that the strength of the association is, above all, its economy, which is growing faster than the global average. Among other things, he cited positive demographics and continued regional stability.
"It is necessary to strengthen economic integration, cooperation, food, energy and financial stability," he added.
The ASEAN summit is taking place in Labuan Bajo. Participants are expected to discuss the situation in Myanmar, as well as the economic and sociocultural development of the association.
The Association of Southeast Asian Nations was founded in 1967 and today unites 10 countries: Brunei, Vietnam, Indonesia, Cambodia, Laos, Malaysia, Myanmar, Singapore, Thailand and the Philippines.
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Photo: official website of the President of the Russian Federation
Based on materials from TASS