Industry Minister hopes to take advantage of IMF-WB Annual Meetings

Jakarta (ANTARA News) - The Annual Meetings of International Monetary Fund and World Bank Group (IMF-WBG) 2018 is an important moment to create comprehensive economic partnership between Indonesia and strategic partners, Industry Minister Airlangga Hartarto said.

"It is especially important to revive the countrys manufacturing industry, which has failed to fully recover from being in the doldrums amid the protracted global crisis," Airlangga said here on Wednesday.

He said the Indonesian government hoped that negotiations on the Comprehensive Economic Partnership Agreement (CEPA) would be wrapped up soon.

Conclusion of the bilateral cooperation of Indonesia-Australia CEPA is expected to serve as a milestone for CEPA with other countries, he said.

He said, Indonesia and partner countries continue to formulate new schemes within the framework of CEPA to increase mutually beneficial trade.

However, big leap will need competitive industry that creates high added value in international market, he said.

He said the international meeting in Bali is also expected to find a solution to the global uncertainty as a result of the trade war between the United States and China.

He said developing countries are the hardest hit by global uncertainties.

"More stable countries could have effect on the strength of the currencies of developing economies,especially Indonesia , which already has the road map for Making Indonesia 4.0 with strategies in entering the era of the 4th Industrial Revolution," he said.

The target is to bolster the countrys economic growth to put Indonesia in the ranks of 10 largest economies in the world in 2030, he said.

?In 2030, when the present younger generation emerges to lead the country with new skills and talents, we would be able to anticipate economic digitalization," the minister said.

A study by McKinsey showed there is a potential economic growth of US$200 billion in 2030 if Indonesia could prepare 17 million workers that could face digital economy.

Therefore, collaboration in special field of education especially related to vocational program is needed to improve the competence Indonesian workers to suit the industrial requirement, he said.

"Therefore, in addition to CEPA, cooperation in vocation sector is needed to expand digital economy. We are confident it could be the main driver of Indoensias economy," he said.

Source: ANTARA News

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