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The president of Indonesia opens the Association of South East Asian Nations Finance Ministers meeting Friday. He called for better cooperation to advance the regions' economies.

Indonesian President Susilo Bambang Yudhoyono opened the 15th Association of South East Asian Nations (ASEAN) Finance Ministers meeting in Bali on Friday.

Yudhoyono called for better cooperation from ASEAN states.

[Susilo Bambang Yudhoyono, Indonesian President]:
"ASEAN needs to be more cohesive and competitive, to maintain its role as a driver for east Asia-wide regionalism and architecture."

Finance ministers from ASEAN member countries are attending the meeting along with the managing director of the World Bank and the president of the Asian Development Bank.

ASEAN members are working an economic blueprint that aims to establish a single market and production partnership.

They also aim to create an ASEAN economic community by 2015, promote equitable economic development and encourage full integration into the global economy.

Jakarta will also host the two-day annual ASEAN Summit of Leaders in May.