It is in this light that we value every opportunity that we can get for consultations between governments and private business. The surge in imports reflects a rise not only in production requirements for export but also in domestic demand, including for housing, commercial property and automotive products. In Indonesia, car sales jumped 455 percent during that period, from about 24,000 to about 127,000 units. In the midst of the resumption of economic growth, inflation has been kept under control. Interest rates are down.
Financial reserves are up, although some currencies have weakened.
Reforms in the financial and corporate sectors continue, although with ups and downs. No one can ask more of a regional association. By next year, average tariffs on goods traded under the AFTA scheme will be down to less than four percent from 4.43 percent today. All electrical and electronic goods are in the AFTA inclusion lists of the six original signatories to the agreement. Average duties on them are already in the minimal range.