economy

The Meeting Between Minister Budi And US-ABC Strengthens Indonesia's Role In ASEAN-US Cooperation

Trade Minister Budi Santoso met with Ted Osius, President & CEO of the US-ASEAN Business Council (US-ABC), and US Ambassador to Indonesia Kamala Lakhdir in Jakarta on Thursday, December 5. They discussed the progress and enhancement of economic cooperation between ASEAN and the United States under the US-ABC framework, focusing on sustainability, connectivity, and the Digital Economy Framework Agreement (DEFA).

Minister Budi stated that the collaboration between ASEAN and the US through US-ABC creates business opportunities for both sides. He emphasized that Indonesia welcomes discussions aimed at opening new business prospects under the US-ABC banner.

"The connection between Indonesia and US-ABC serves as an important platform to promote government-private sector dialogue on various digital issues, including best practices and opportunities related to cybersecurity, artificial intelligence, and data governance. Public-private partnerships are crucial as Indonesia's digital economy continues to grow," Minister Budi said during the meeting.

He also expressed Indonesia's appreciation for open discussions with private companies in ASEAN and the US. "We hope that collaboration with US-ABC will lead to new business opportunities and promote inclusive and sustainable development in the region," Minister Budi added.

Regarding sustainability, Minister Budi highlighted the need for a regional strategy to strengthen sustainable economic growth in ASEAN. He pointed out the central role of the ASEAN Power Grid (APG) in the sustainability agenda, emphasizing the importance of green and renewable energy for a sustainable future in the region.

"Collaboration is essential in implementing the ASEAN Circular Economy Framework and the Carbon Neutrality Strategy. These efforts ensure that sustainability remains a priority in ASEAN's economic strategy," Minister Budi stated.

In this meeting, Minister Budi emphasized ASEAN's commitment to enhancing innovation, competitiveness, and supply chain resilience in the region. He encouraged ASEAN and the US to collaborate on supply chain aspects across various industries. "This is to ensure that connectivity initiatives related to supply chains will yield meaningful results for businesses and communities," Minister Budi stated.

Regarding the DEFA issue, Minister Budi praised US-ABC for organizing a workshop on non-discriminatory treatment of digital products for negotiators during the 7th DEFA negotiations.

"This workshop will strengthen ASEAN's commitment to an integrated digital market, establish fair and competitive trade policies, and promote innovation and inclusivity throughout the region," Minister Budi added.

Tag: Budi Santoso DEFA Digital Economy Framework Agreement