Budi N

Budi N

Budi Nugroho P.

 

24
June

Bilateral cooperation between Indonesia and the Philippines experiences a major uplift. One of the developments accomplished is the completion of the Exclusive Economic Zone (EEZ) Boundary ratification process between both countries.

The news was conveyed by President Joko Widododuring a bilateral meeting with President Rodrigo R Duterte of the Philippines on the sidelines of the 34th ASEAN Summit in Athenee Hotel, Bangkok, Thailand, on Saturday night (22/6).

“I appreciate the smooth completion of the Exclusive Economic Zone (EEZ) boundary ratification process between Indonesia and the Philippines," said the President.

Foreign Ministers of the two countries plan to exchange the ratification documents in Jakarta next August 2019. This ratification will provide legal certainty to law enforcement and improve maritime sector cooperation.

“I suggest we each assign our team to immediately commence the negotiation on Continent Shelf," said President Jokowi.

Continuing on bilateral issues, President Jokowi communicated the plan of the country's private sector to intensify trade and investment in the Philippines.

“I also hope that Your Excellency's granting on the exemption of Indonesian instant coffee and ceramic products from the price-based special safeguard list," he continued.

Another issue discussed by President Jokowi was the Indo-Pacific cooperation. “I highly appreciate the support and contribution given by the Philippines to the development of the 'ASEAN Outlook on Indo-Pacific Cooperation'," he said.

At the beginning of the meeting, the President also expressed his appreciation for the Filipino Government's help in the release of Indonesian hostages.

“I believe Your Excellency agrees that we will continue to tighten security cooperation, including in Sulu Sea and the surrounding areas," said President Jokowi. (setkab)

24
June

ASEAN Outlook on Indo-Pacific proposed by Indonesia was adopted by the ASEAN Summit in Bangkok this Saturday (22/6).

“This Outlook represents the centrality and force of ASEAN in upholding the principles of peacekeeping, fostering a culture of dialog, and strengthening cooperation," said President Joko Widodo at the Plenary Session of the 34th ASEAN Summit in Athenee Hotel, Bangkok, Thailand.

President Jokowi expressed his appreciation for all ASEAN countries that had made major contributions to the development of the Outlook.

The ASEAN Outlook on Indo-Pacificis increasingly relevant to the world's developments today.

“The trade war between US and China has not shown any sign of reconcilement," the President continued. “There is a concern that the trade war is growing into amulti-front war".

Further, President Jokowi said that ASEAN shall hold strong, unite, and assume its role as the motor of peace and stability of South East Asia.

In addition to the issue of Indo-Pacific, during the Plenary Session of the ASEAN Summit, the President also encouraged ASEAN to affirm their commitment to concluding the Regional Economic Partnership Agreement (RCEP) negotiations.

At the end of his remarks, President Jokowi announced that the new ASEAN Secretariat office construction had been completed and ready for inauguration on 8 August 2019, coinciding with the 52nd anniversary of ASEAN. (setkab)

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24
June

Indonesia and the Philippines are on the same page to establish a small team to intensify trade relations between the two neighboring nations.

"We will set up a small team. We will develop the team to increase trade between Indonesia and the Philippines," Indonesian Trade Minister Enggartiasto Lukita remarked on the sidelines of the 34th ASEAN Summit in Bangkok, Thailand, on Saturday.

The team, to constitute officials of both nations' trade ministries, will draft a list of each other's products for bilateral trade, Lukita remarked after holding a bilateral discussion with his Filipino counterpart, Ramon M. Lopez.

"We will also draft a list of issues. Moreover, we also (think of) what we can do together in future to cater to the global demand," Lukita noted.

The team will also be tasked with coming up with a solution to the barriers faced by the two countries, he added.

During the bilateral meeting, Lukita also drew attention to the additional import duties imposed on Indonesia's coffee candy exported to the Philippines.

"The import duties are also imposed on the export of Indonesian ceramic products (to the Philippines). This is actually based on the fact that Indonesia has until now enjoyed a trade surplus with the Philippines," he stated.

To boost bilateral trade, Indonesia had agreed to purchase more products from the Philippines till the time demand from the domestic market exists, he noted.

He remarked that Indonesia's Mayora Group had, so far, imported coconut products from the Philippines. The company is also urged to invest in the Philippines.

"We will not suffer losses if the Indonesian company expands its business there, as we will provide its raw materials," he stated.

Trade between Indonesia and the Philippines recorded a growth of 16.71 percent during the 2014-2018 period.

Solely in the first quarter of 2019, bilateral trade had reached US$1.8 billion, an increase of 3.32 percent, from $1.7 billion in the corresponding time frame a year earlier.  (ant)

24
June

Indonesia's economic growth in the second quarter of 2019 is predicted to range between 5.05 and 5.15 percent, head of the Fiscal Policy Agency of the Finance Ministry, Suahasil Nazara, said in Jakarta on Friday.

"We predict it will reach 5.05 to 5.15 percent, better than (the growth) in the first quarter of 2019," Nazara said.

The country's economy, he said, would be supported by household consumption with the increase in public expenditure during the Eid al-Fitr festival.

In addition, the Household Non-Profit Institution (LNPRT) consumption expenditure has contributed to the economy with increased activities during the general elections.

He expressed hope that the sluggish growth of investment in the first quarter of the year would recover after business operators previously suspended activities while waiting for the result of the elections.

"We saw that investments had slightly slowed down due to the elections. Investors took a wait and see attitude and waited for the results. But we hope that from June, investment will make its contribution again," he elaborated.

However, the economic growth projection in the second quarter of 2019 was still lower than the growth in the same period of 2018 at 5.27 percent, Nazara said.

Previously, the Central Bureau of Statistic (BPS) recorded economic growth in the first quarter of 2019 at 5.07 percent with the support of household consumption, government and investment expenditure.

During the period, household consumption grew 5.01 percent, higher than the growth during the same periods in 2017 and 2018 that both recorded 4.94 percent.

The growth was also supported by the growth in government consumption at 5.21 percent due to the increase in expenditure for goods and services, as well as expenditure for civil servants.

Gross Fixed Capital Formation (PMTB) also contributed to the economic growth in the first quarter of 2019, although it only grew 5.03 percent, compared to 4.77 percent and 7.94 percent of PMTB growth during the same periods in 2017 and 2018, respectively. (ant)