Minister highlights intra-ASEAN investment, trade importance

Jakarta (ANTARA) - Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto emphasized the importance of strengthening intra-ASEAN investment and trade cooperation, especially between Indonesia and Malaysia, as part of the efforts to bolster the region's economic resilience.

In a statement following a bilateral meeting between Indonesia and Malaysia at the Presidential Palace complex in Jakarta on Friday, Hartarto stated that ASEAN's main strength lies in its domestic economic resilience and regional supply chain integration.

"We need to encourage intra-ASEAN trade and investment, as the basis of ASEAN's strength is its domestic economy and regional supply chain," he stated.

He noted that cooperation between strategic countries such as Indonesia and Malaysia should be prioritized to strengthen the regional economy.

In addition, discussions on ASEAN's position in the Regional Comprehensive Economic Partnership (RCEP) are becoming increasingly strategic in the context of global cooperation, including with the Gulf Cooperation Council (GCC) countries.

The minister also assessed that the planned synergy of special economic zones between Singapore, Johor in Malaysia, and Riau in Indonesia holds significant potential for integrated development.

Such cross-border cooperation can encourage investment and trade growth, including the potential for exports in the maritime sector, which are currently being explored.

"Johor will also build a special economic zone. We have discussed plans to build synergy between Singapore, Johor, and Riau so that the economic potential of these three regions can be combined," he revealed.