Jokowi expects IMT-GT to boost Indonesia, Malaysia, Thailand economic growth
Labuan Bajo, The Gulf Observer: President Joko Widodo (Jokowi) has said that he expects the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) sub-regional economic cooperation framework to encourage inclusive and sustainable economic growth amid global uncertainty.
At the 15th IMT-GT Summit here on Thursday, he noted that the volume of trade between the three countries has been quite good despite the global crisis, with its value reaching US$618 billion (Rp9,089.23 trillion) in 2021.
“In the future, the IMT-GT must be increasingly capable of expediting inclusive and sustainable economic growth,” he added.
According to the Indonesian President, IMT-GT aims to address complicated economic challenges, high global economic uncertainty, increasing competition between countries, and the domino effect of global economic shocks.
“Let’s encourage the spirit of collaboration, especially by increasing our competitiveness, connectivity, tourism, and investment to achieve the IMT-GT 2036 vision,” he added.
It is hoped that IMT-GT would provide golden economic opportunities for the 85 million people living in the border areas of the three ASEAN countries, he said, according to the website of the Cabinet Secretariat.
According to the Indonesian Foreign Affairs Ministry’s website, the sub-regional cooperation framework was established in 1993.
Apart from strengthening the welfare of the community, the government has continued to push the private sector to become a driver of economic growth through the IMT-GT.
Hence, the Joint Business Council (JBC) has been established as a cooperation platform for the business actors of the three countries. The JBC is actively involved in a series of Senior Officials’ Meetings (SOMs) and Ministerial Meetings (MMs) every year.
Indonesia, as the chair for tourism of the IMT-GT, initiated the launch of the IMT-GT Visit Year 2023–2025 to encourage tourism recovery and realize one of the goals of the IMT-GT Vision 2036, namely creating cross-border sustainable, inclusive, and competitive tourism.
The initiative was endorsed by IMT-GT leaders at the 14th IMT-GT Summit in Phnom Penh, Cambodia, on November 10, 2022.
However, the program was launched at the 15th IMT-GT Summit in Labuan Bajo, West Manggarai District, East Nusa Tenggara (NTT) Province, on the sidelines of the 42nd ASEAN Summit, held on May 9–11, 2023.
