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President Jokowi Encourages Strengthening Economic Integration, Accelerating Energy Transition and Digital Transformation at the ASEAN-Australia Special Summit

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President Jokowi Encourages Strengthening Economic Integration, Accelerating Energy Transition and Digital Transformation at the ASEAN-Australia Special Summit

COORDINATING MINISTRY FOR ECONOMIC AFFAIRS
REPUBLIC OF INDONESIA

PRESS CONFERENCE

HM.4.6/72/SET.M.ECON.3/03/2024

President Jokowi Encourages Strengthening Economic Integration, Accelerating Energy Transition and Digital Transformation at the ASEAN-Australia Special Summit

Melbourne, March 6, 2024

Coordinating Minister for Economic Affairs Airlangga Hartarto accompanied Indonesian President Joko Widodo at the Special Summit for the 50th Celebration of the ASEAN – Australia Partnership in Melbourne, Wednesday (6/03), and was attended by all heads of government of ASEAN member countries except Myanmar, the Prime Minister of Timor Leste , Prime Minister of Australia, and Secretary General of ASEAN.

Entering the golden age of 50 years, the ASEAN-Australia partnership is entering a new chapter towards increasingly profitable relations. Australia is the oldest dialogue partner for ASEAN and is ASEAN’s link with the Indo Pacific region. “We share the Indo Pacific region, where stability, peace and prosperity are shared goals and responsibilities,” said President Jokowi.

The ASEAN Australia 2040 economic cooperation strategy report submitted by Australia emphasizes the various potentials in the Southeast Asia region. “ASEAN is predicted to become economic power house and the world‘s 4th economy in 2040,” said President Jokowi.

“Therefore, I want to encourage strengthening economic cooperation, especially in three fields,” continued Jokowi. First, strengthening ASEAN and Australia’s economic integration through investment, trade and implementation ASEAN Outlook on Indo Pacific (AOIP).

In the investment sector, President Jokowi emphasized the need to encourage balanced economic cooperation, especially by increasing Australian investment in Southeast Asia. “I hope Australia can open up wider opportunities inbound investment from ASEAN to Australia,” President Jokowi said.

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For the trade sector, the President of the Republic of Indonesia hopes for increased cooperation by utilizing regional areas Comprehensive Economy Partnership (RCEP) and ASEAN-Australia-New Zealand FTA (AANZFTA).

Apart from that, the implementation of AOIP also needs to be optimized through the realization of the commitments conveyed in ASEAN Indo-Pacific Forum (AIPF) last year in Jakarta. “I hope that Australia’s commitment of USD 28.1 billion in AIPF can be realized soon.” The President of the Republic of Indonesia said.

Second, accelerating the energy transition. ASEAN has agreed “ASEAN Strategy for Carbon Neutrality” in 2023 to encourage regional transformation towards a green economy. Australia’s support in the form of investment and technology transfer will be needed by ASEAN to transition to a green economy. “I also encourage Australian business people to support development electric vehicle ecosystem in ASEAN,” added President Jokowi.

Third, digital transformation cooperation. ASEAN last year started negotiations on the ASEAN Digital Economy Framework Agreement (DEFA) to realize the region’s digital economic potential which is predicted to reach USD 1 trillion by 2030. “I hope Australia can support ASEAN’s digital transformation efforts through skill development, knowledge sharing, and strong public and private partnerships,” President Jokowi emphasized.

This meeting was successful in agreeing “ASEAN-Australia Leaders’ Vision Statement” which will be a strategic guide towards improving relations between ASEAN and Australia amidst regional geopolitical and geoeconomic dynamics. Apart from that, on this occasion Australia also announced two initiatives, namely the establishment of ASEAN-Australia Center and additional scholarships of 55 master’s scholarships and 55 scholarships fellowship in the field of AOIP cooperation for ASEAN member countries and Timor Leste.

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For the record, Australia is Dialogue Partner ASEAN’s first and in 2021 its status has increased to Comprehensive Strategic Partnership (CSP). Relations between ASEAN and Australia are also found in various ASEAN-led mechanism areas such as East Asia Summit and ASEAN Regional Forum to become a member of the world‘s largest trading bloc, Regional Comprehensive Economic Partnership (RCEP).

Total ASEAN-Australia trade has increased in the last five years with a value reaching USD100.51 billion in 2022. ASEAN’s leading export products include fuel, motor vehicles and machinery. Meanwhile, Australia exports fuel, cereals and pearls to the ASEAN market.

A series of Special ASEAN – Australia Summits will be held in Melbourne from 4 to 6 March 2024. Apart from Leaders’ Plenary and Retreat which was attended by heads of government, there were also several events held such as CEO Business Forum, SME Conference, Emerging Leaders’ Dialogue, Climate and Clean Energy Forum, and Maritime Cooperation Conference.

Apart from Coordinating Minister Airlangga, those present to accompany President Joko Widodo included the Minister of Foreign Affairs, Minister of State Secretary, Minister of Public Works and Public Housing, Director General of ASEAN Cooperation, Ministry of Foreign Affairs, and the Permanent Representative of the Republic of Indonesia to ASEAN. (dep7/map/fsr)

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Secretary of the Coordinating Ministry for Economic Affairs
Susiwijono Moegiarso

Website: www.ekon.go.id
Twitter, Instagram, Facebook, TikTok, Threads, & YouTube: @Per EkonomiRI
Email: [email protected]
LinkedIn: Coordinating Ministry for Economic Affairs of the Republic of Indonesia

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