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Selasa, April 30, 2024

Indonesia and Malaysia Propose ASEAN-GCC Collaboration as New Economic Initiative

Indonesia’s Coordinating Minister for Economic Affairs, Airlangga Hartarto ("Minister") and Malaysian Prime Minister Anwar Ibrahim have agreed to propose that ASEAN and Gulf Cooperation Countries ("GCC") engage in a collaborative project in order to reflect their status as emerging economic powers.
In this regard, in an effort to strengthen the Regional Comprehensive Economic Partnership ("RCEP"), as previously established by ASEAN with several partner countries, the Minister has proposed an expansion of the current list of RCEP cooperation partners to include GCC countries.
The Minister believes that GCC and RCEP can work together effectively to facilitate a number of cooperative ventures across various sectors of the economy, including trade; investment; digital economy; Islamic finance; micro-, small- and medium-scale enterprises; and youth exchange.
The initiation and ultimately the strengthening of free-trade agreements with GCC countries offers new investment and trading opportunities that should enhance the economies of both regions. Key sectors that are likely to be pursued through this initiative include agriculture, energy and tourism, with potential cooperation seen as viable in terms of effecting an energy transition, carbon storage, education, culture and the halal product industry. It is also hoped that this collaboration will be able to boost food and energy security, positioning ASEAN-GCC as a new economic power.
Furthermore, Laos is set to assume the ASEAN Chairmanship in 2024, which will coincide with the next planned ASEAN-GCC Summit. Malaysia will then subsequently assume the ASEAN Chairmanship in 2025. Greater interregional cooperation is seen as an essential goal in the coming years, particularly in terms of Indonesia’s domestic agenda, which involves achieving the so-called “Golden Indonesia” benchmark by 2045. However, the current global economic slowdown and the escalation of geopolitical tensions will pose a significant challenge in this regard. _(ANT)

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Indonesia’s Coordinating Minister for Economic Affairs, Airlangga Hartarto ("Minister") and Malaysian Prime Minister Anwar Ibrahim have agreed to propose that ASEAN and Gulf Cooperation Countries ("GCC") engage in a collaborative project in order to reflect their status as emerging economic powers.
In this regard, in an effort to strengthen the Regional Comprehensive Economic Partnership ("RCEP"), as previously established by ASEAN with several partner countries, the Minister has proposed an expansion of the current list of RCEP cooperation partners to include GCC countries.
The Minister believes that GCC and RCEP can work together effectively to facilitate a number of cooperative ventures across various sectors of the economy, including trade; investment; digital economy; Islamic finance; micro-, small- and medium-scale enterprises; and youth exchange.
The initiation and ultimately the strengthening of free-trade agreements with GCC countries offers new investment and trading opportunities that should enhance the economies of both regions. Key sectors that are likely to be pursued through this initiative include agriculture, energy and tourism, with potential cooperation seen as viable in terms of effecting an energy transition, carbon storage, education, culture and the halal product industry. It is also hoped that this collaboration will be able to boost food and energy security, positioning ASEAN-GCC as a new economic power.
Furthermore, Laos is set to assume the ASEAN Chairmanship in 2024, which will coincide with the next planned ASEAN-GCC Summit. Malaysia will then subsequently assume the ASEAN Chairmanship in 2025. Greater interregional cooperation is seen as an essential goal in the coming years, particularly in terms of Indonesia’s domestic agenda, which involves achieving the so-called “Golden Indonesia” benchmark by 2045. However, the current global economic slowdown and the escalation of geopolitical tensions will pose a significant challenge in this regard. _(ANT)

......

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Semua Fitur Paket Standard
Terjemahan Peraturan
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Monthly Law Review (MLR)
Indonesian Law Digest (ILD)

STANDARD

Rp 2.500.000

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Indonesian Legal Brief (ILB)
Daily Updates
Bantuan Layanan Pencarian Peraturan
Pusat Data Peraturan dan Putusan Pengadilan Non-Precedent

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