Minister Of Industry Agus Wants Economic-Industry Cooperation Between The Republic Of Indonesia And Japan To Be Realized Soon

Minister of Industry Agus Gumiwang Kartasasmita shook hands with the Chief Cabinet Secretary of Japan Hayashi Yoshimasa. (Photo: Doc. Ministry of Industry)

JAKARTA - The Indonesian government through the Ministry of Industry (Kemenperin) hopes to strengthen industrial cooperation with Japan, both through international forums and strategic agreements.

In order to discuss cooperation programs between the two countries, the Minister of Industry (Menperin) Agus Gumiwang Kartasasmita held a bilateral meeting with the Chief Cabinet Secretary of Japan Hayashi Yoshimasa in Tokyo, on Friday, June 21.

"We expect the support of the Chief Cabinet Secretary (Hayashi Yoshimasa) in the industrial economy cooperation between the two countries," said Minister of Industry Agus in a meeting that took place in Tokyo as quoted from the official website of the Ministry of Industry, Monday, June 24.

Indonesia-Japan economic cooperation relations are established through various international forums and strategic agreements, such as the Indo Pacific-Economic Framework for Presperity (IPEF), Indonesia-Japan Economic Partnership Agreement (IJEPA) and ASEAN-Japan Comprehensive Economic Partnership Agreement (AJCEPA).

At the end of 2023, President Joko Widodo (Jokowi) and Japanese Prime Minister Fumio Kishida inaugurated a summit of the 50th Anniversary of the ASEAN-Japan Partnership in Tokyo as well as marking five decades of collaboration that has managed to maintain stability, peace and economic growth in the region.

At the Minister of Industry meeting with Yoshimasa, the two welcomed the completion of the substantive negotiations for the Indonesia-Japan Economic Partnership Agreement (IJEPA) protocol which has been running since 2019 and hopes that its implementation can be carried out in the near future.

The Minister of Industry also expressed his appreciation for Japan's readiness to support Indonesia's access to the Organization for Economic Co-operation and Development (OECD), which will open up opportunities for Indonesia to learn from Japan's experience in the industrial sector.

Currently, Indonesia is conducting an accession process in the initial preparation stage of a memorandum in the form of alignment of policy instruments with OECD standards.

This memorandum of understanding is being prepared through an independent assessment process and is expected to be completed by the end of 2024.

Still in the context of increasing cooperation in the region, the Minister of Industry also invited Japan to participate in the ASEAN Statesperson Forum in Bali on 29 July.

"This activity provides a framework for going face-to-face between current and future leaders in the region," he added.