ASIATODAY.ID, JAKARTA – The ASEAN region plays a big role as a supporter of economic resilience in Asia.
In the last decade, the ASEAN economy has shown positive performance with an average growth of 4%-5%. In 2022, the ASEAN economy will grow 5.7% (yoy) and is predicted to continue to grow positively in 2023.
In the world, the ASEAN region is the 5th largest economy and the 4th largest exporter, and in 2022 it will even become the 2nd largest Foreign Direct Investment (FDI) destination.
The growth of the ASEAN economy which is supported by this connectivity will help boost the resilience of the Asian economy in 2023 and also in the years to come.
At the 43rd ASEAN Summit which was held at the moment of Indonesia’s Chairmanship last September, commitments related to ASEAN connectivity were made, among other things, to ensure effective implementation of the ASEAN Community Vision 2025 and continue progress in implementing the recommendations of the Mid-Term Review (MTRs) Master Plan on ASEAN Connectivity (MPAC) 2025.
“Connectivity is the key to integrated economic development in the ASEAN region. “Not only making policies but also practically doing it so that infrastructure and connectivity in ASEAN can be realized immediately,” emphasized the Coordinating Minister for Economic Affairs of the Republic of Indonesia, Airlangga Hartarto at the 14th ASEAN Connectivity Symposium in Jakarta, Wednesday (8/11/2023).
Agreeing with Airlangga, President of the Economic Research Institute for ASEAN and East Asia (ERIA) Professor Tetsuya Watanabe said that ASEAN connectivity has proven to be the basis of ASEAN’s post-pandemic recovery strategy which involves policy coordination, pooling resources and forming partnerships to strengthen regional resilience so that it becomes more strong.
Meanwhile, Deputy Secretary-General of ASEAN for ASEAN Economic Community Satvinder Singh said that ASEAN must continue to build capacity and strengthen its regional foothold to maximize the benefits of ASEAN connectivity and the ASEAN Economic Community.
Deputy Satvinder Singh also said that Coordinating Minister Airlangga’s leadership as Chair of the ASEAN Economic Community Council was a very influential factor in this achievement.
In line with the solid growth of the ASEAN economy, the Indonesian economy in the third quarter of 2023 was also able to grow positively by 4.94% (yoy). This figure is accompanied by a controlled inflation rate of 2.56% in October 2023, as well as improving social indicators, namely decreasing unemployment and poverty rates.
Indonesia has also succeeded in becoming an upper middle income country based on the World Bank classification with a per capita income of US$4,580.
Airlangga at the symposium also said that the launch of DEFA in the momentum of Indonesia’s Chairmanship in ASEAN this year would double the value of the digital economy in ASEAN by 2030, from US$1 trillion to US$2 trillion. The sustainable economic agenda will also be accelerated through the development of a regional electric vehicle ecosystem.
Furthermore, ASEAN countries are also committed to developing the Post-2025 ASEAN Connectivity Agenda as part of the Post-2025 ASEAN Community. In this regard, the development of the Post-2025 ASEAN Connectivity Agenda will be carried out with the ASEAN Outlook on the Indo-Pacific (AOIP) as the main reference.
“I hope that in MPAC 2025 and in the Post-2025 ASEAN Connectivity Agenda we can accommodate action plans that are in line with the implementation of Local Currency Transactions (LCT) as a liaison for ASEAN and ASEAN’s plans to develop an electric vehicle ecosystem in ASEAN,” concluded Coordinating Minister Airlangga. (AT Network)
Check out other news and articles at Google News