Asia-Pacific leaders seek ways to foster growth, counter headwinds in recovery

BALI, Indonesia – Indonesia's President Susilo Bambang Yudhoyono 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.