Earlier this week, Coordinating Economic Minister Airlangga Hartarto flew to Los Angeles to join with fellow economic ministers from 13 Indo-Pacific countries to start negotiations on the Indo-Pacific Economic Framework, Washington's first major pan-Asian trade engagement effort in nearly a decade.
Indonesia has lent its weight behind the United States' initiative to set up an Indo-Pacific trade arrangement, a framework that if agreed could represent some 40 percent of the global Gross Domestic Product (GDP).
Earlier this week, Coordinating Economic Minister Airlangga Hartarto flew to Los Angeles, United States, joining fellow economic ministers from 13 Indo-Pacific countries to start negotiations on the Indo-Pacific Economic Framework (IPEF), Washington's first major pan-Asian trade engagement effort in nearly a decade.
In his statement Airlangga said that Indonesia "appreciated and supported" the US-led initiative and will join negotiations in all four pillars promoted under the framework.
"Indonesia will join the four pillars so that we can reap all the benefits that come from increased trade between future members of IPEF," Airlangga said in a statement made available to The Jakarta Post on Friday. Airlangga was referring to the four negotiation streams; trade, labor and digital standards; clean energy and decarbonization; supply chain resilience; and tax and anti-corruption efforts. To secure broad participation, the countries could choose among those streams.
In the negotiation, Airlangga was joined by economic ministers from Australia, Brunei, Fiji, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand and Vietnam. Together with the US, the participants represent some 40 percent of the global GDP.
Airlangga also said that seven ASEAN countries who joined the talk had all shown a united front and have come up with a similar position regarding the US-led trade arrangement.
US Trade Representative Katherine Tai said the IPEF talks in Los Angeles were aimed at addressing future challenges and achieving "sustainable and equitable growth" in the Indo-Pacific region.
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