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Asia has to move towards a single market, underpinned by cross-regional infrastructure, Indonesia’s Vice-President Professor Dr Boediono told a forum in Perth.

Speaking at the In the Zone Business Forum dinner at The University of Western Australia tonight, he said strong regional cooperation among Asian economies would be crucial.

“Asia has to move more and more towards a single market,” he said. “To support the development of a single market, infrastructure development, particularly in transport, energy, and ICT, will be essential to forge cross-border connectivity and expand trade and investment opportunities.”

Professor Dr Boediono also spoke about the importance of the comprehensive economic partnership agreement between Australia and Indonesia.

“I anticipate that under this partnership many new opportunities will be identified for closer collaboration and mutually beneficial commercial and socio-cultural relations,” he said.

Professor Dr Boediono said Asia’s role as a driver of global economic growth will be that much more significant in the aftermath of the global financial and economic crisis.

“But Asia will have to play a somewhat different role than it has in the past, one in which regional cooperation and integration within Asia will be critical,” he said.

Professor Dr Boediono’s address followed the awarding earlier tonight of the Honorary Degree of Doctor of Economics from The University of Western Australia from where he graduated in 1967.

The In the Zone forum was an intensive one-day meeting of 100 national and international leaders from the business, government and academic sectors.

With the theme ‘The Geography of Global Prosperity’, the forum provided an opportunity for discussion and debate about the increasingly complex global neighbourhood and key policy questions facing Australia and the region.

The forum follows the success of the 2009 In the Zone Conference.

Media references

Sonia Nolan (ITZ Media Manager) (+61 4) 01 034 103
Janine MacDonald (UWA Public Affairs) (+61 8)  6488 5563  /  (+61 4) 32 637 716