Wednesday, 27 March 2024 08:23

Indonesia proposes the integration of sub-regional cooperation within ASEAN.

Indonesia proposes the integration of Sub-regional Cooperation Fora under ASEAN, namely IMT-GT, BIMP-EAGA, and GMS, termed as "ASEAN BIG." Edi Prio Pambudi, Deputy Minister for International Economic Cooperation at the Coordinating Ministry for Economic Affairs, emphasizes the importance of this integration to support supply chain enhancement and regional logistics, positioning it as a pivotal resource development center. This proposal received positive reception from senior officials who requested the Asian Development Bank (ADB) to prepare the implementation concept. Discussions on this plan took place during the Plenary Strategic Planning Meeting (SPM) of the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) in Tangerang Regency on Monday. The meeting aimed to review the progress of cooperation and annual work plans from all working groups, Joint Business Councils (JBCs), and university networks (UNINET).Senior officials also deliberated on several strategic projects previously discussed at the national secretariat level, including IMT-GT's partnership with India, the promotion of IMT-GT Visit Year 2023—2025, and the Rubber City industrial potential optimization.


Additionally, collaborative projects between academia (UNINET) and entrepreneurs (JBCs) to develop a Research & Development Center of Excellence were discussed.Furthermore, the initiative for cross-border QR Code-based payment transactions between the three countries was explored as a payment option for SME exhibitions. Indonesia also proposed breakthroughs for food security and digitalization strategies involving all sub-regional local governments. Indonesia showcased the success of central and regional inflation control teams (TPIP and TPID) and regional digitization acceleration teams (TP2DD) in controlling inflation and local government digitalization, which could facilitate food distribution when needed. As the forum leader, Indonesia appreciated IMT-GT's growth, which has increased more than tenfold, reaching USD 405.7 billion since its establishment three decades ago. However, Indonesia urges collective awareness to ensure that economic benefits in the region are evenly distributed among all member countries.

Source: https://www.antaranews.com/berita/4030152/ri-usulkan-integrasi-kerja-sama-subkawasan-di-bawah-asean

 

 

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