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Thursday, 25 May 2023 09:34

Indonesia Pushes Structural Reformation of Services Trade at APEC

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VOINews, Jakarta - Indonesia has invited the economies in the Asia-Pacific Economic Cooperation (APEC) to prioritize structural reformation in services trade to improve the performance of trade amid the challenges faced by the global economy.

Indonesia supports the action plan of APEC economies involving structural reformation and the implementation of policies related to the global economic recovery effort, Trade Ministry Official Basaria Tiara D. Lumban Gaol said in a statement released on Wednesday.

This is important, especially during the post-pandemic period, which has necessitated a collective and active role in boosting the performance of the global economy, she said during the APEC Services Competitiveness Roadmap Annual Dialogue 2023.

She outlined the policies made by Indonesia for supporting the structural reformation of the services trade.

The policies have become the foundation for strengthening the services trade and become a pillar for economic strengthening as a whole.

Moreover, the structural reformation undertaken by Indonesia was developed comprehensively and in its entirety by considering the simplification of regulations and capacity improvement of institutions that handle services trade.

This is necessary to strengthen Indonesia's services trade, specifically by supporting action plans that have been formulated by APEC economies by considering the interests of each member economy, Gaol explained.

The regulations that previously hindered trade and investment in Indonesia have been simplified. This simplification has allowed for faster business license management without diluting the importance of licensing.

Examples of this include licensing related to construction, telecommunications, and the immigration system.

In addition to discussing structural reformation, Indonesia also conveyed the importance of APEC support for the mobilization of professionals between economies.

Indonesia is discussing a Mutual Recognition Arrangement (MRA) on the mobilization of the professional workforce in services trade, specifically engineers, with Australia.

Support for the professional workforce MRA will be beneficial, not just for certain professions, but for the entire professional workforce in services trade, she noted.

APEC has underlined the importance of data and statistics in services trade to support the implementation of the road map through the improvement of member economies’ capability to gather, calculate, and showcase services trade data. (antaranews)

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