In his final agenda during his working visit to London, Minister of Economic Affairs Coordinating Airlangga Hartarto conducted an interview on Bloomberg TV on May 1st. During the session, Minister Airlangga not only highlighted Indonesia's positive economic developments but also shared Indonesia's successful transition of government from President Joko Widodo to the elected President Prabowo Subianto. Minister Airlangga emphasized that political stability is Indonesia's asset to continue economic transformation. Despite global economic complexities, Indonesia's economic performance has progressed significantly, achieving a growth rate of 5.05% throughout 2023. Even during the past two years, amidst election preparations and processes, Indonesia's economy maintained quality growth, stable inflation, and balanced exchange rates. Minister Airlangga seized the opportunity to explain Indonesia's strategic policies, such as nickel commodity downstreaming, aiming to increase economic value, create jobs, and strengthen Indonesia's position in the global supply chain. The downstreaming policy has improved Indonesia's trade balance and current account significantly, registering a surplus since 2021, while also positively impacting job creation.
Bloomberg New Energy Finance (Bloomberg NEF) acknowledges Indonesia's growing attractiveness to attract investments in the electric battery supply chain ecosystem. Indonesia is currently ranked 22 out of 30 countries in Bloomberg NEF's Annual Global Lithium-Ion Battery Supply Chain, projected to rise to 18 by 2027, surpassing other G20 countries like Brazil and South Africa. Furthermore, Indonesia is committed to enhancing its energy transition efforts to achieve its National Determined Contribution (NDC), targeting an emission reduction of 31.89% unconditionally and 43.20% with international assistance. This energy transition opens up investment opportunities worth USD 3.5 trillion for Indonesia. Following the live interview session, Minister Airlangga engaged in discussions with Bloomberg NEF CEO Jon Moore, emphasizing Indonesia's increasing global economic significance. Indonesia's leadership in the G20 Presidency 2022, followed by the ASEAN Chairmanship 2023, and its initiation of the accession process to OECD membership highlight its ambitions to become a high-income, advanced country and enhance OECD's inclusivity and relevance. As the largest economy in Southeast Asia, Indonesia's OECD membership will elevate both its and OECD's profiles and significance.
