Indonesia Seeks to Join Trans-Pacific Trade Pact for Economic Boost
In a strategic move to expand its export markets, Indonesia has officially requested to join the Trans-Pacific trade pact, as reported by state news agency Antara. The country's chief economic minister, Airlangga Hartarto, confirmed that Indonesia has submitted a letter of accession to New Zealand, the depositary for the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
"This decision is part of our efforts to reform the economy structurally and enhance market access for Indonesia," Airlangga stated.
Indonesia's interest in joining the free trade agreement, which currently includes 12 member countries such as Australia, Canada, Japan, and Singapore, was initially announced in May. The move aims to attract more investments by broadening the country's export opportunities.
President-elect Prabowo Subianto has expressed his support for Indonesia's request to join the CPTPP, according to Airlangga. Prabowo is set to succeed outgoing President Joko Widodo on October 20.
In conclusion, Indonesia's bid to join the Trans-Pacific trade pact signifies a significant step towards economic growth and increased global trade opportunities. By becoming a member of the CPTPP, Indonesia could potentially attract more investments, boost its export sector, and strengthen its position in the international market. This development is likely to have a positive impact on the country's economy and could benefit both businesses and individuals in Indonesia.