Greater cooperation between Europe and Asia will sustain global economic growth, says Yudhoyono

Former President of Indonesia H.E. Susilo Bambang Yudhoyono spoke about the need for closer ties between Europe and Asia when he delivered a special address at the 2015 World Chinese Economic Summit. Photo by Miles Willis

Former President of Indonesia H.E. Susilo Bambang Yudhoyono spoke about the need for closer ties between Europe and Asia when he delivered a special address at the 2015 World Chinese Economic Summit. Photo by Miles Willis

Greater cooperation between Europe and Asia will sustain global economic growth, says Yudhoyono

25/11/15

By Naomi Canton

Greater cooperation between Europe and Asia will help sustain global economic growth, the former President of Indonesia has said.

H.E. Susilo Bambang Yudhoyono told guests at the 7th World Chinese Economic Summit held at The Savoy Hotel that stronger “European-Asia partnerships were one of the important pillars to stimulate and sustain economic growth. “

“Windows of opportunity lie ahead. Asia and Europe can build a win-win solution based on mutual benefit,” Mr Yudhoyono, who is Chairman of the Green Growth Institute added, when making a special address during the Patron’s Welcome Dinner of the 7th World Chinese Economic Summit (WCES).

A range of individuals were presented with Lifetime Achievement Awards during the three-course dinner, which was attended by Asian and European politicians, industry leaders, journalists, policy-makers, entrepreneurs, researchers and thought leaders.

The aim of the 7th World Chinese Economic Summit, which was held in London for the first time outside Asia, was to help integration between Europe and Asia, explained Tan Sri Lee Kim Yew, co-founder and Patron of the WCES.

Tan Sri Lee Kim Yew, co-founder and Patron of the WCES, said the purpose of the WCES was to promote integration between Europe and Asia. Photo by Miles Willis

Tan Sri Lee Kim Yew, co-founder and Patron of the World Chinese Economic Summit (WCES), said the purpose of the WCES was to promote integration between Europe and Asia. Photo by Miles Willis

He said that Chinese President Xi Jinping’s proposed Belt and Road initiative in particular was about Europe and Asia having more cooperation.

The Belt and Road is a slogan coined by the Chinese authorities to describe their initiative to strengthen infrastructure, trade, financial and cultural exchange and improve connectivity between China and Europe along ancient ‘Silk Road’ trading routes. The idea is to create a Silk Road economic belt by land from China through Central Asia towards Europe as well as a 21st century maritime Silk Road following historical maritime trading routes through the South China Sea, the South Pacific Ocean, and the wider Indian Ocean area. Both will expand trade and cultural ties and open up new business and investment opportunities.

A range of dignitaries, business leaders and senior political figures attended the dinner at The Savoy Hotel. Photo by Miles Willis

A range of dignitaries, business leaders and senior political figures attended the dinner at The Savoy Hotel. Photo by Miles Willis

Yudhoyono, the sixth President of the Republic of Indonesia, said that the lessons from the 1997 Asian Financial Crisis and the 2008 global economic meltdown were that “we need to have a new global awareness and strong commitment to build effective cooperation to tackle economic instability and to install a better framework of cooperation that can be well implemented to ensure the sustainability of the global economy.”

He  said “strong, balanced and sustainable economic growth” was subscribed in the framework of the G20. “I propose to add inclusiveness so our goal is to achieve strong, balanced, inclusive growth. We need stronger cooperation, deeper partnerships and collective action to include everyone,” he said.

H.E. Susilo Bambang Yudhoyono told guests at the 7th World Chinese Economic Summit held at the Savoy Hotel that stronger “European-Asia partnerships were one of the important pillars to stimulate and sustain economic growth. “ Photo by Miles Willis

H.E. Susilo Bambang Yudhoyono told guests at the 7th World Chinese Economic Summit held at the Savoy Hotel that stronger “European-Asia partnerships were one of the important pillars to stimulate and sustain economic growth. “ Photo by Miles Willis

The longest serving President in Indonesia’s democratic era and the country’s first directly-elected President pointed out that by the 2009 Asia was in a better shape than in 1997 and so it could minimise the impact of the 2008 global financial crisis. But today emerging markets were being hit deeper and the more advanced markets were better off, he said.

“Constructive and brilliant thoughts and more effective stronger partnerships are imperative to create a more prosperous world.  It’s about finding opportunities. Let’s find and create them. China and Indonesia share a common dream – cooperation between Europe and Asia leading to a more prosperous world,” he said.

Before the Savoy Hotel dinner HRH The Duke of York was  honoured with the Patron’s Special Benevolence Award at an invitation-only reception at Kensington Palace.

The Duke of York received the Award in recognition of his efforts to promote UK-China relations during the period when he was the UK’s Special Representative for Trade and Investment (2001- 2011), Dr Michael Yeoh, Chairman of the World Chinese Economic Summit, said.

Guests mingled at Kensington Palace. Photo by Miles Willis

Guests networked at the Patron’s Welcome Reception at Kensington Palace which was held before the dinner at The Savoy Hotel. Photo by Miles Willis

Prince Andrew receives the  Patron’s Special Benevolence Award from the Sultan of the state of Perak HRH Nazrin Muizzuddin Shah at Kensington Palace during the World Chinese Economic Summit. Photo by Miles Willis

Prince Andrew receives the Patron’s Special Benevolence Award from the Sultan of the state of Perak HRH Nazrin Muizzuddin Shah at Kensington Palace during the World Chinese Economic Summit. Photo by Miles Willis

 

Prince Andrew is pictured with his award with Tan Sri Lee Kim Yew, Co-Founder & Patron of the World Chinese Economic Summit. Photo by Miles Willis

Prince Andrew is pictured with his award with Tan Sri Lee Kim Yew, Co-Founder & Patron of the World Chinese Economic Summit. Photo by Miles Willis

naomi.canton@asiahouse.co.uk

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