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Jokowi calls on ASEAN, India to enhance cooperation on SMEs
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Stronger ties — President Joko "Jokowi" Widodo (left) attends the 14th ASEAN-India Summit in Vientiane, Laos, on Thursday. (Courtesy of the Presidential Office/Laily Rachev)
P
resident Joko "Jokowi" Widodo has urged ASEAN and India to enhance cooperation in the small and medium enterprises (SMEs) sector, given that more than 80 percent of economic drivers in both regions are SMEs.
"We need to push SMEs to enhance innovation and their digital economy," Jokowi said during the 14th ASEAN-India Summit in Vientiane on Thursday.
“We also need to support the ASEAN-India Business Council as a forum and networking facility for economic actors in private sectors,” he added.
During the summit, President Jokowi stressed the importance of capacity building and technical assistance for SMEs in ASEAN as part of efforts to strengthen the regional block’s cooperation with its counterparts, such as the relationship with India, which has been maintained for 24 years so far.
During the 20th anniversary of ASEAN and India Relations in December 2012, the two regions agreed to strengthen connectivity in a bid to improve regional integration.
"I'm sure optimal connectivity will boost cooperation in trade, investment and tourism including people-to-people contact," Jokowi said.
ASEAN-India trade value amounted to US$59.7 billion in 2015, with Indian investment to ASEAN countries recorded at $605.9 billion in 2014, before doubling to $1.25 trillion in 2015. (ebf)
