The Indonesian Ministry of Trade (Kemendag) has released findings from an in-depth study on Indonesia's services trade. The results indicate that the services sector, including telecommunications, transportation, and finance, will serve as a primary driver of Indonesia's economic growth. The study, titled "Services Trade in Indonesia: Exploring Patterns, Policies, and Reform Scenarios," was presented during a seminar at the Ministry of Trade's office in Jakarta on October 24, 2024. Conducted in partnership with the Organisation for Economic Co-operation and Development (OECD), the study is part of the OECD-Indonesia Joint Work Program 2022-2025. The research aims to identify the potential, challenges, and opportunities for Indonesia's services sector to enhance its global competitiveness.
OECD trade analysts Matteo Fiorini and Janos Farencsz emphasized the need for accelerated reforms and liberalization within the services sector to boost investment, increase productivity, and harness the momentum of digital trade growth. According to the Director General of International Trade Negotiations at Kemendag, Djatmiko Bris Witjaksono, the OECD's recommendations are expected to guide Indonesia in strengthening the foundation and capacity of its services sector in global markets. Additionally, the seminar included input from key government representatives and stakeholders, further enriching the discussion on the opportunities and challenges facing Indonesia's services sector.
