ASEAN-ROK Summit Talks on Cooperation in New Economy Sectors

By Office of Assistant to Deputy Cabinet Secretary for State Documents & Translation     Date 6 September 2023
Category: News
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President Joko “Jokowi” Widodo (right) and President of the Republic of Korea Yoon Suk Yeol walk together prior to the 24th ASEAN-Republic of Korea Summit at JCC, Jakarta, Wednesday (09/06). (Photo by: Media Center ASEAN Summit 2023/Dwi Prasetya/foc)

President Joko “Jokowi” Widodo held the 24th ASEAN-Republic of Korea (RoK) Summit, at Cendrawasih Room 3, Jakarta Convention Center (JCC), Jakarta, Wednesday (09/06).

Minister of Foreign Affairs Retno LP Marsudi explained that the meeting discussed a number of collaborations, especially in the new or emerging economy sectors such as financial technology (fintech), digital economy, and startup ecosystems.

“ROK announced a contribution of US$30 million for capacity building in the field of Artificial Intelligence and US$16 million for the implementation of AOIP (ASEAN Outlook on the Indo-Pacific). During the meeting, the importance of upgrading the ASEAN-ROK FTA (Free Trade Agreement) was also raised,” she said.

In addition, Retno explained that both leaders also discussed issues regarding the Korean Peninsula which are related to international law and regional security.

“The two leaders also raised issues related to the Korean Peninsula, especially the launch of missiles and nuclear programs that contradict international law and pose a threat to regional security,” Retno said.

Furthermore, she said that the meeting also produced a number of cooperation agreements in various sectors which were stated in one document that was adopted and one document that was recorded.

One document that was adopted was the Joint Statement of the 24th ASEAN-Republic of Korea Summit on Cooperation on the ASEAN Outlook on the Indo-Pacific (AOIP). The document, she added, was a form of support for the implementation of the AOIP collaboration.

“This implements the AOIP concept in concrete cooperation, and this time it is supported by the ROK, including in the maritime, infrastructure, digitalization, supply chain and green economy sectors, and MSMEs,” she said.

Meanwhile, one document recorded at the meeting was the Progress Report on the Implementation of the ASEAN-Republic of Korea (ROK) Plan of Action to Implement the Joint Vision Statement for Peace, Prosperity, and Partnership (2021-2025).

“[The document] contains the progress of implementing the RI-ROK Joint Vision Statement Plan of Action for 2021-2025,” she remarked. (KS/BPMI SETPRES/UN) (EST/MUR)

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