Indonesia, Singapore to Accelerate Digital Economy Cooperation

Author: Aqilla Nasyia Maulidia
October 8, 2024

Menteri Koordinator Bidang Perekonomian Airlangga Hartarto (kiri) dan Wakil Perdana Menteri dan Menteri Perdagangan dan Investasi Singapura Gan Kim Yong (kanan). (Ekon.go.id)

SEAToday.com, Vientiane - Coordinating Minister for Economic Affairs Airlangga Hartarto held a bilateral meeting with Singapore's Deputy Prime Minister and Trade and Industry Minister, Gan Kim Yong, on Monday (10/7) in Vientiane, Laos, on the sidelines of the 24th ASEAN Economic Community (AEC) Council Meeting.

During the meeting, Airlangga and Gan Kim Yong discussed several strategic issues, including the negotiations for the ASEAN Digital Economy Framework Agreement (DEFA), the Tech:X Pilot program, and Indonesia's interest in joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

"Indonesia understands that there are different levels of ambition, interests, and capacities among ASEAN member countries in the digital economy, so there needs to be a pragmatic and innovative approach for ASEAN to complete the negotiations on target," said Airlangga.

The completion of the ASEAN DEFA negotiations launched during Indonesia's Chairmanship of ASEAN last year is targeted to reach 50 percent by 2024 and substantially complete by 2025. The talks are projected to be the world's first comprehensive regional digital economy agreement and could increase the value of ASEAN's digital economy to 2 trillion US dollars by 2030.

Regarding the Tech:X Pilot program, the two ministers discussed the follow-up of the two countries' cooperation program launched at the Singapore-Indonesia Leaders' Retreat meeting at the Bogor Palace on April 29. The program enables professionals in the technology sector to move between the two countries. Airlangga encouraged the community to take advantage of the initiative by opening the broadest possible opportunities through various companies and universities.

Furthermore, on this occasion, Singapore also expressed its welcome to Indonesia's desire to join the CP TPP. Singapore supports the increase in ASEAN member countries participating in the regional trade agreement.

Additionally, the two ministers exchanged views on strategic issues and their impacts on the region, such as the conflict in the Middle East, the US presidential election, and developments in renewable energy and green technology.

The meeting was accompanied by the Secretary of the Coordinating Ministry for Economic Affairs Susiwijono Moegiarso, the Deputy for International Economic Cooperation Edi Pambudi, the Assistant Deputy for Sub-Regional Economic Cooperation, and the Expert Team for Investment Development.