JAKARTA – Indonesia and Singapore continue to strengthen partnerships as two main partners in Southeast Asia who have a strategic role in maintaining regional stability and encouraging sustainable economic growth.
In dealing with increasingly complicated global dynamics, the two countries agreed that strategic cooperation needs to be improved so that ASEAN remains an inclusive, open and competitive economic zone.
During the bilateral meeting, Coordinating Minister for Economic Affairs Airlangga Hartarto held a bilateral meeting with Singapore’s Minister of Foreign Affairs Vivian Baskrishnan.
The meeting discussed the dynamics of the region, especially developments in ASEAN and CPTPP.
Airlangga said that Indonesia also reaffirmed its determination to continue the CPTPP accession process.
In addition, this meeting is also a momentum to strengthen economic coordination, encourage regional integration, and accelerate collaboration in the face of global trade dynamics and the digital economy.
“It is important to strengthen cooperation through the Future of Investment and Trade (FIT) Partnership as an initiative capable of encouraging the economic architecture of a more resilient and responsive region,” Airlangga said in his statement, Tuesday, November 19.
Discussions related to FIT also include steps to strengthen the resilience of supply chains through the integration of the Batam, Bintan, and Karimun (BBK) areas with Singapore as regional logistics centers.
On the other hand, Singapore also expressed support for Indonesia’s interest in participating in the FIT Forum.
Both countries see great opportunities to expand sustainable investment, especially in the green energy sector, digitization, and agroindustry, which are considered increasingly important in creating long-term added value, as well as supporting regional economic transitions.
Indonesia and Singapore also agree on the importance of empowering MSMEs across borders through the use of trade technology such as artificial intelligence, blockchain, and the Internet of Things, so that small business actors can enjoy the benefits of increasing regional economic integration.
In addition, the two Ministers emphasized the importance of completing technical discussions to provide clarity on the design of the digital economy framework to be built.
The framework can then become a foothold in developing more directed digital trading principles, as well as supporting the acceleration of the formation of the Digital Economy Framework Agreement (DEFA).
The meeting also highlighted the strategic role of sub-regional cooperation within the framework of SiJORI, which has long been the foundation of integration between Singapore, Johor, and the Riau Islands.
This synergy is expected to create a wider growth corridor, strengthen trade and investment flows, and encourage innovation among the three closely connected regions.
The two countries also emphasized their commitment to continue to maintain coordination and ensure that every strategic agenda that has been agreed upon can be realized concretely.
Meanwhile, this meeting further strengthens the belief that the Indonesia ‘Singapore’ partnership will continue to grow and provide great benefits for the people of the two countries as well as for the region as a whole.
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