JAKARTA - Trade Minister Muhammad Lutfi said that Indonesia would continue trade reforms to be more integrated into the global economy. Therefore, Indonesia supports a more open economy, trades fairly, and benefits each other to get a better market.
This was conveyed by the Minister of Trade Lutfi at the “Trade, Tourism, and Investment Forum Reviving Global Trade through Strengthening Regional Economic Partnership” event which was held virtually on Thursday (21/10). This event is part of a series of the 36th Digital Edition Trade Expo Indonesia (TEI) with the theme “Reviving Global Trade” which opened on the same day.
“Indonesia will continue to negotiate like-minded trade agreements, both large and small, in an effort to better position itself in the global value chain. Currently, the Ministry of Trade is in the process of negotiating 23 bilateral and regional trade agreements,” explained the Trade Minister.
Meanwhile, Minister Bahlil explained that according to data from the Central Statistics Agency (BPS), the biggest contribution to economic growth was consumption and investment. Judging from the development of the survey results, consumption has stagnated so that only investment will be encouraged.
For that, he continued, collaboration between agencies is needed in accelerating. There are three strategies to encourage investment, namely downstreaming, incentives and providing alternative industrial estates, as well as granting special rights in the form of incentives for investors who invest outside Java. (LM)