Indonesian Coordinating Economic Affairs Minister Airlangga Hartarto and Deputy Prime Minister and Minister for Trade and Industry of Singapore Gan Kim Yong have agreed to accelerate bilateral and regional cooperation in the field of digital economy, according to reporting from Antara News.
The meeting between the two took place on the sidelines of the 24th ASEAN Economic Community (AEC) Council Meeting in Vientiane, Laos, on Monday (7/10/24).
At the meeting, the two ministers discussed several strategic issues, such as the negotiations of ASEAN’s Digital Economy Framework Agreement (DEFA), the Tech:X Pilot program, and Indonesia’s keenness to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), says Antara News.
“Indonesia understands that there is a difference in levels of ambition, interest, and capacity between ASEAN member countries in the digital economy,” Hartarto noted in a statement from his ministry, emphasizing the need for a pragmatic and innovative approach to ensure that ASEAN, comprising 10 member countries, can conclude the DEFA negotiations as planned.
Antara News reports that the DEFA negotiations were launched under Indonesia’s ASEAN chairmanship in 2023. The negotiations are targeted to reach 50 percent in 2024 and be completed in 2025.
The agreement is projected to become the world’s first comprehensive regional digital economy agreement and be able to increase the value of ASEAN’s digital economy to USD 2 trillion by 2030.
Regarding the Tech:X Pilot program, the two ministers discussed the cooperation program launched during the Singapore-Indonesia Leaders’ Retreat at the Bogor Presidential Palace on April 29, 2024.
The program enables the movement of professionals in the technology sector between the two countries, says Antara News.
Hartarto encouraged the initiative to be accessible to the community by opening opportunities optimally through various companies and universities.
Singapore also welcomed Indonesia’s intent to join the CPTPP, according to the statement.
“CPTPP will complement the RCEP (Regional Comprehensive Economic Partnership) for ASEAN in navigating the region’s geo-economy,” the Indonesian minister said.
The two ministers also exchanged views on strategic issues and their impacts on the region, such as the Middle East conflict, the US presidential election, and the development of renewable energy and green technology in the region.
Source: Antara News
Stock image by David from Pixabay
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