Indonesia centers attention on deepening trade cooperation at WEF

We must realize closer collaboration if we want to increase the maximum level trade cooperation. We must have the spirit of collaboration to promote common welfare in the face of global economic changes

Jakarta (ANTARA) – Indonesia can step up trade cooperation to the maximal level through closer collaboration with trade partners in the global market, Trade Minister Agus Suparmanto stated.

“We must realize closer collaboration if we want to increase cooperation in trade to the maximum level. We must have the spirit of collaboration to promote common welfare in the face of global economic changes,” he stated during the ministerial sessions held at the Indonesian Pavilion on the sidelines of the World Economic Forum (WEF) 2020 in Davos on Wednesday.

In his paper titled Government’s Strategy Advancing Nation’s Productivity and Export, a copy of which was made available on Thursday, the minister highlighted the Indonesian government’s commitment to getting more actively involved in global trade.

The commitment encompasses the Trade Ministry’s target of concluding over 20 international trade agreements with partner nations in the subsequent five years, he revealed.

The Trade Ministry also remains resolute to increasing the competitive edge of the country’s export products and opening new markets for such products in future as part of the global value chain, he stated.

To face the dynamics of global trade, he appealed to buyers and investors at the WEF to cooperate for boosting the competitive edge and investment in the global market.

The ministerial sessions also featured Coordinating Minister for Economic Affairs Airlangga Hartato and Industry Minister Agus Gumiwang Kartasasmita.

In his address, Hartarto highlighted the significance of innovations and technology in economic development, including conducting research and development.

He further drew spotlight on the progress attained in the development of special economic zones (KEK) in Indonesia, including those focusing on industry, logistics, and tourism.

He invited investors to invest in Indonesia that offers a wide range of facilities to make the investment climate more attractive and conducive.

Meanwhile, Industry Minister Kartasasmita stated that to face the fourth industrial revolution, or industry 4.0, the Industry Ministry is focusing on developing five industrial sectors: food and beverage, automotive, textile, chemicals and electronic industries.

The WEF 2020 was held in Davos, Switzerland, on January 21-24.

Source: ANTARA News