Indonesia expresses interest in joining CPTPP
Antara News - 1 May 2024
Indonesia expresses interest in joining CPTPP
Coordinating Minister for Economic Affairs Airlangga Hartarto conveyed Indonesia’s interest in joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) during a meeting with United Kingdom (UK) Minister of State for Indo-Pacific, Anne-Marie Trevelyan.
In a statement issued by his ministry here on Wednesday, Hartarto said that Indonesia’s active participation in several international forums would open more opportunities for mutually beneficial cooperation and boost investment.
"From the results of the initial review of the CPTPP Chapter 30 rules, around 70 percent of the domestic rules are in harmony (with them)," the minister pointed out during his visit to London on Tuesday.
In March, the UK agreed to join the CPTPP, a trade bloc comprising Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. It is the UK’s biggest trade deal since Brexit.
Indonesia is currently starting the accession process to become a member of the Organisation for Economic Co-operation and Development (OECD) with support from 38 countries, including the UK.
To Hartarto, Trevelyan emphasized that the UK supports Indonesia’s bids to join the OECD and the CPTPP.
She added that the UK is ready to share experiences and help Indonesia in the accession processes.
She also suggested building common ground by involving businesses to take advantage of trade agreements and gain added value in the long term.
Trevelyan visited Jakarta on February 29 this year. Tuesday’s meeting was held as part of Hartarto’s return visit.
At the meeting, the two ministers also explored several cooperation opportunities, especially related to the production of nickel and other essential minerals, the development of renewable energy, and the strengthening of supply chains.
