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ADB President Takehiko Nakao, far left, and finance ministers from India, Indonesia and Pakistan speak at a panel discussion on the sidelines of the ADB's annual meeting in Yokohama on May 6.
Economy

Protectionism will not be able to stop global trade

Finance ministers at ADB meeting say trade momentum is too strong

TSUBASA SURUGA, Nikkei staff writer | Japan

YOKOHAMA -- Despite fears of rising protectionism in the global economy, trade expansion will continue and remain an unstoppable force. This was the key message delivered by the finance ministers of India, Pakistan and Indonesia at a panel discussion held on the sidelines of the Asian Development Bank's 50th annual meeting on Saturday.

Indonesian Finance Minister Sri Mulyani Indrawati noted that global poverty has been significantly reduced since 1950 because most countries, especially those in Southeast Asia, have benefited from open trade and globalization. "This is something we need to recognize and maintain," she said, even as world's trade policies "are becoming more uncertain."

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