Vientiane, October 08, 2024 – The Europe Today: Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto and Singapore’s Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong have reached an agreement to accelerate bilateral and regional cooperation in the digital economy. The discussions took place on the sidelines of the 24th ASEAN Economic Community (AEC) Council Meeting in Vientiane.
During the meeting, the two ministers addressed several strategic issues, including the ongoing negotiations for the ASEAN Digital Economy Framework Agreement (DEFA), the Tech
Pilot program, and Indonesia’s intention to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Minister Hartarto emphasized the varying levels of ambition, interest, and capacity among ASEAN member countries in the digital economy. “Indonesia understands that there is a difference in levels of ambition, interest, and capacity between ASEAN member countries in the digital economy,” he stated. He underscored the need for a pragmatic and innovative approach to facilitate the completion of DEFA negotiations, which were initiated under Indonesia’s ASEAN chairmanship in 2023. The goal is to achieve 50 percent progress by 2024 and finalize the agreement by 2025.
The DEFA is expected to become the world’s first comprehensive regional digital economy agreement, with projections indicating that it could enhance the value of ASEAN’s digital economy to USD 2 trillion by 2030.
Regarding the Tech Pilot program, which was launched during the Singapore-Indonesia Leaders’ Retreat at the Bogor Presidential Palace on April 29, 2024, both ministers discussed the importance of facilitating the movement of professionals in the technology sector between the two nations. Hartarto expressed the need to ensure the initiative is accessible to the wider community by maximizing opportunities through various companies and universities.
Furthermore, Singapore expressed support for Indonesia’s desire to join the CPTPP, with Hartarto stating, “CPTPP will complement the RCEP (Regional Comprehensive Economic Partnership) for ASEAN in navigating the region’s geo-economy.”
In addition to these topics, the ministers exchanged views on broader strategic issues impacting the region, including the ongoing conflict in the Middle East, the upcoming US presidential election, and advancements in renewable energy and green technology.
