Indonesia Advocates for Active and Fair Participation in IPEF

Indonesia Advocates for Active and Fair Participation in IPEF

Jakarta, The Gulf Observer: Coordinating Minister for Economic Affairs of Indonesia, Airlangga Hartarto, underscored the importance of active and equitable participation of all partner countries in the implementation of the Indo-Pacific Economic Framework for Prosperity (IPEF).

In a statement released by the ministry on Sunday, Minister Hartarto emphasized Indonesia’s commitment to operationalizing the agreements within the IPEF framework, with a strong emphasis on ensuring inclusive engagement among all participating nations.

During the virtual ministerial meeting of the IPEF held on Thursday, Minister Hartarto welcomed the forthcoming signing of the IPEF agreement, scheduled to take place in Singapore in June 2024. He highlighted that the agreement encompasses Pillar III, focusing on clean energy, and Pillar IV, emphasizing a fair economy.

Furthermore, Indonesia commended the United States’ proposal for three workshops as part of the follow-up initiatives to Pillar IV of the IPEF. These workshops aim to foster cooperation and innovation in areas such as carbon markets, clean electricity, just transition, and sustainable aviation fuel development.

In her remarks, United States Secretary of Commerce, Gina Raimondo, expressed gratitude to all partner countries for their swift completion of IPEF negotiations within a span of two years. Secretary Raimondo also emphasized the significance of sustaining commitment to IPEF initiatives, particularly across Pillars II, III, and IV, focusing on supply chains, clean energy, and economic fairness.

Additionally, Singapore’s Minister of Trade and Industry, Gan Kim Yong, extended an invitation to governments and private sector representatives of IPEF partner countries to attend the Clean Economy Investor Forum in June 2024. The forum aims to facilitate investment cooperation in the realm of clean economy initiatives among IPEF partner nations.

Indonesia’s proactive engagement and advocacy for inclusive participation underscore the nation’s commitment to advancing regional economic cooperation and sustainable development within the Indo-Pacific region through the IPEF framework.