Trade Minister Highlights Four Issues on IPEF Launching

By Office of Assistant to Deputy Cabinet Secretary for State Documents & Translation     Date 24 Mei 2022
Category: News
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Minister of Trade Muhammad Lutfi representing President Jokowi attends the Launch of the Indo-Pacific Economic Framework for Prosperity (IPEF), Monday (05/23)

Minister of Trade Muhammad Lutfi representing President Joko “Jokowi” Widodo attended the Launch of the Indo-Pacific Economic Framework for Prosperity (IPEF) virtually from Jakarta, Monday (05/23).

In his remarks, the Minister said that the Government will support efforts of the IPEF to strengthen economic relations and cooperation in the Indo-Pacific region.

On that occasion, Lutfi said that there are four issues of this economic framework that must be highlighted. They are as follows:

First, the IPEF must establish a concrete and mutually beneficial cooperation so that it can provide benefits for the people in the region.

Second, the IPEF must be inclusive and open to all countries in the Indo-Pacific region so that it will bring long-term positive impacts. Lutfi asserted that Indo-Pacific region is too large if the benefits are only enjoyed by certain countries.

Third, the IPEF must not present new development challenges to countries in the region.

The implementation of norms and standards in economic cooperation must be supported by capacity building programs to ensure that all countries in the region can fully participate,” he added.

Fourth, the IPEF must encourage synergy between the IPEF and other regional frameworks, especially the ASEAN Outlook on the Indo-Pacific.

“It is our hope that the IPEF can contribute to peace, stability, and prosperity in the region. Thus, Indonesia is ready to participate in the dialogue and provide constructive insights for the success of the IPEF cooperation,” he remarked.

For the record, the IPEF is an economic cooperation in the Indo-Pacific region consisting 13 countries. The 13 countries are the United States, Australia, Brunei Darussalam, the Philippines, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Singapore, Thailand, and Vietnam. (NASTER/UN) (AP/MMB)

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