economy

Indonesia And Japan Collaborate Economically Through International Forums And Strategic Agreements

The economic cooperation between Indonesia and Japan is being strengthened through various international forums, such as the Indo-Pacific Economic Framework for Prosperity (IPEF), Indonesia-Japan Economic Partnership Agreement (IJEPA), and ASEAN-Japan Comprehensive Economic Partnership Agreement (AJCEPA).

At the end of 2023, Indonesian President Joko Widodo and Japanese Prime Minister Fumio Kishida inaugurated the Commemorative Summit of the 50th Anniversary of ASEAN-Japan Partnership in Tokyo, marking five decades of successful collaboration that has maintained stability, peace, and economic growth in the region.

To further realize the cooperation programs between the two countries, Minister of Industry AgusGumiwangKartasasmita held a bilateral meeting with Japan's Chief Cabinet Secretary Mr. Hayashi Yoshimasa. "We hope for the Chief Cabinet's support in the economic and industrial cooperation between our two countries," expressed the Minister during the meeting held in Tokyo on Friday, June 21.

Both countries welcomed the completion of substantive negotiations on the IJEPA Amendment Protocol that has been ongoing since 2019 and hope for its implementation to be carried out soon.

The Minister also expressed his appreciation for Japan's readiness to support Indonesia's accession to the Organisation for Economic Co-operation and Development (OECD), which will provide Indonesia with the opportunity to learn from Japan's experiences in the industrial sector.

Currently, Indonesia is in the process of accession, with the initial memorandum being prepared through the alignment of policy instruments with OECD standards via a self-assessment process with the target of completion by the end of 2024. The Ministry of Industry will be involved as one of the Responsible Ministries as a working partner of the 26 OECD Committees in the formal accession process.

Still in the spirit of enhancing regional cooperation, the Minister of Industry also extended an invitation to Japan to participate in the ASEAN Statesperson Forum in Bali on July 29th. This event provides a framework for face-to-face interactions between current and future leaders in the region.

Tag: Indonesia International Forums Japan