There are several cooperation opportunities that can be explored with countries in the Pacific region to overcome future global challenges, Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan has said.
“There are still many areas of trade, investment, and cooperation that need to be explored together by Indonesia and countries in the Pacific region to address the world’s challenges while investing in people and ideas to create a brighter future. We must be proactive, adaptive, and agile,” Minister Pandjaitan said.
He made the statement at the 2nd Pacific Exposition 2021, according to a written statement issued in Jakarta on Friday. The event, entitled ‘Trade, Investment and Creative Economy Forum’, was organized virtually by the Indonesian Embassy in Wellington, New Zealand, and attended by Australia, Fiji, Solomon Islands, Papua New Guinea, New Zealand, and Timor Leste.
Speaking at the event, Pandjaitan said that at the current pace of recovery, the Indonesian government is expecting economic growth to recover from last year’s negative growth to reach 3.7-4.5 percent growth by the end of 2021.
According to him, next year’s economic growth is expected to increase to 5.2-5.5 percent and then grow to 6 percent through economic transformation.
Meanwhile, Indonesian Ambassador to New Zealand, Tantowi Yahya, said that the COVID-19 pandemic has left an impact on the economy and people’s livelihoods, especially in the Pacific region countries that rely heavily on tourism.
“A combined market of 300 million people, the Pacific region is a very profitable region and beats the engine of growth and uncertainty for the world’s economic recovery,” he observed.
According to the Ambassador, Pacific region countries need to diversify through strengthening trade, investment, and creative economy strategies. The smooth flow of goods and services will encourage growth and contribute to a sustainable economy, he explained.
On the same occasion, Minister of Trade Muhammad Lutfi stated that Indonesia must take advantage of the current momentum to rise to middle-income country status.
Indonesia’s demographic bonus will soon end, therefore Indonesia must take advantage of the current momentum to double its GDP (gross domestic product) to US$12 thousand, he said.
“That number will expire between 2038 and 2040. Essentially, Indonesia has about 18 to 17 years to double its GDP to become a high-income country,” the Trade Minister said.
Source: Antara News