ASEAN Secretary General Appreciates Economic Priority Achievements During Indonesia's Chairmanship

Illustration of the Rupiah (Photo: Doc. Antara)

JAKARTA - ASEAN Secretary-General Kao Kim Hourn praised 16 economic priority achievements (PED) promoted by Indonesia as Chair in ASEAN 2023.

"I would like to praise Indonesia, especially the Minister (Zulkfifli Trade) Hasan, for introducing future economic priority achievements and will pave the way for stronger regional economic cooperation," he said, quoting Antara.

The ASEAN Economic Integration, which was launched through 16 economic priority achievements (PED) which were ratified at the AEM Retreat meeting, he continued, was categorized into three strategic thrusts focused on recovery and rebuilding, the digital economy, and sustainability.

"In this case, I want to underline that the results of economic priority achievements, if fully implemented, can contribute significantly to the deepening of ASEAN's economic integration and post-pandemic recovery in the region," he said.

The meeting, which was attended by the entire ASEAN Minister of Economy and or who represented, he said, also discussed aspirations and strategic steps to take advantage of the potential for trade and investment intraASEAN, to ensure that the region has more resilient growth to strengthen ASEAN's position as a single market and production base.

I underline that ASEAN is currently pursuing several key initiatives to deepen its economic integration. First, increasing ASEAN Trade in Goods Agreement (ATIGA) to ensure it remains relevant, modern, future-minded, and more responsive to regional and global developments.

Second, prepare a quality ASEAN Digital Economy Framework (DEFA) which will become a formidable foundation for ASEAN to become a leading digital economy, where smooth and secure flow of goods, services, and data is supported by rules, regulations, infrastructure, and talent.

ASEAN is also implementing the ASEAN Circuit Economic Framework for the ASEAN Economic Community and the development of the ASEAN Carbon Neutrality Strategy to complement the efforts of ASEAN member countries to transition to a resilient and resource-efficient economy.

As well as building a strong framework for industrial cooperation projects in the region through the ASEAN Industrial Project-based Initiatives to increase a formidable supply chain that utilizes potential mineral and technological resources.

It doesn't stop there, the AEM Retreat also discusses many strategic steps that will catalyze the regional transition to digitalization and sustainability, while strengthening the existing pillars of economic integration that will determine the success of ASEAN in the 21st century.

"Together, the ministers agreed on the importance of embracing a transformative mindset that allows us to build a strong, resilient, inclusive, and truly future-minded future," said Secretary General Kao Kim Hourn.

ASEAN's trade and investment performance has surpassed the pre-pandemic rate with a growth of 5.5 percent by 2022 and is targeted at 4.7 percent by 2023.

ASEAN's trade reached 3.4 trillion US dollars in 2021 and increased by about 25 percent from the previous year. Meanwhile, foreign direct investment inflows reached 174 billion US dollars in 2021, an increase of about 42 percent from the previous year.