Report IPEF Results To Jokowi, Airlangga: 1 Of The 4 Pillars Has Been Worked By RI

Coordinating Minister for the Economy Airlangga Hartarto (Photo: Antara)

Coordinating Minister for Economic Affairs Airlangga Hartarto reported to President Joko Widodo (Jokowi) a number of Indonesian actual achievements in cooperation with the Indo-Pacific Economic Framework (IPEF) forum.

Airlangga said that one of the four IPEF pillars that had been completed by Indonesia.

"Earlier I reported to the President regarding the IPEF which consists of four pillars. Indonesia has completed pillar 2, supply chain," he said.

Responding to the report, said Airlangga, the President directed international ratification or agreements through a presidential regulation (Perpres). "Earlier, the president directed ratification of the supply of chains to be carried out immediately through the Presidential Decree," he said.

In addition to completing pillar 2, said Airlangga, Indonesia is also processing the completion of six IPEF pillar 1 support clusters related to the trade sector.

The clusters in question are related to employment (labor), environment (environment), digital economy, trade facilities, and trade competition policies.

"All clusters are targeted to be completed in December 2024. That is what has not been completed by all countries, not just Indonesia," he said.

Then the pillars projected to be completed on June 6, 2024, are related to pillar 3 related to the low-carbon economy (economic green). The commitment will be stated in a legal review to be signed on June 6, 2024," said Airlangga.

The IPEF 4 pillar regarding a just economy, said Airlangga, will also be signed on June 6, 2024 as the basis for Indonesia in preparing for the Dialogue on Critical Minerals Cooperation and the Green Economy Forum involving investors at the Indo-Pacific.

"Clean Economy Forum, Indonesia proposed several projects, 17 projects whose documentation has been considered complete, such as geothermal, green refinery, then green ammonia, and so on," he said.

Indonesia actively participates in the IPEF international forum to strengthen its position in the global economy and realize inclusive and sustainable national economic growth.

The IPEF Forum focuses on four things that are economic challenges for almost all countries in the Indo-Pacific region. The four pillars that are discussed in the IPEF are Trade Facilitation, Supply Chain, Green Economy, and Fair Economy.

At the November 14 2023 Indo-Pacific Economic Framework Ministerial Meeting (IPEF-MM), all IPEF member countries agreed to announce a substantial completion of Pillar III (Clean Economy) and Pillar IV (fair Economy).