JakartaPost-Nov 22, 2023
Indonesia is situated in the middle of the dynamic Indo-Pacific region, and deepening regional economic integration is a strategic objective because it underpins future stability and prosperity. This was a priority for Indonesia while serving as chair of ASEAN this year. It also guided President Joko “Jokowi” Widodo’s recent visit to the United States to participate in APEC Leaders’ Week. During the week, the Indonesia-US Comprehensive Strategic Partnership (CSP) was launched, which elevates the relationship between the two major democracies and economies. The partnership sets a pathway for deeper linkages between governments, businesses and people, even amid rising geopolitical uncertainty. The CSP has a forward-looking economic agenda to advance trade and investment interests through bilateral and multilateral mechanisms. It highlights critical sectors for joint efforts, particularly boosting innovation and technological collaboration in energy, health and agriculture. Swift progress in these critical sectors could support productivity growth and ensure competitive industries in both economies, given their different comparative advantages and shared interests in achieving sustainable economic development. For Indonesia, the benefits of the new approach include boosting technology-led investment to develop and grow new growth industries and enable more value-added production. The CSP enables Indonesia to access US technical know-how, which is essential for developing local skills and a talent pipeline. This will equip Indonesia to harness new economic opportunities that are vital to escape the middle-income trap. Read more at: https://www.thejakartapost.com/business/2023/11/22/regional-economic-integration-underpins-indonesias-transformation.html.
