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01
April

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Jakarta (voinews): Foreign Affairs Minister Retno Marsudi underscored the importance of optimizing the utilization of the Indonesia-Korea Comprehensive Economic Partnership Agreement (IK-CEPA) in order to intensify economic cooperation between the two countries.

At the 4th Indonesia-South Korea Joint Commission Meeting (JCM) with Minister of Foreign Affairs Park Jin in Seoul on Friday, Foreign Minister Marsudi highlighted that through the IK-CEPA, both nations had recorded the highest trade value of US$24.53 billion (around Rp366.6 billion) last year.

This figure has increased by 33 percent as compared to the value of bilateral trade between Indonesia and South Korea in 2021.

"However, we still have quite a large room to increase trade, so that we can reach the target of US$30 billion (around Rp448.4 trillion)," Marsudi remarked while delivering an online press statement regarding her working visit to South Korea on Friday evening.

Since the implementation of IK-CEPA earlier this year, over one thousand certificates of origin have been issued to obtain preferential tariffs, with a trade value of US$52.88 million (approximately Rp790.3 billion).

Furthermore, the foreign minister stressed the importance of implementing the 18 project proposals submitted by Indonesia within the IK-CEPA framework, i.e., in the fields of agriculture, health, culture, construction, fisheries, automotive, semiconductors, and information technology, which can increase the capacity of Indonesian producers to meet standards and improve product quality in the Korean market.

"I also ask for Korea's support in accelerating the digitization of the Indonesian manufacturing industry in order to increase the capacity of Indonesian MSMEs," she remarked.

Regarding investment cooperation, Marsudi expressed hope that the Korean private sector would increase investment in Indonesia's strategic sectors, such as the steel industry, petrochemicals, electric vehicle batteries, renewable energy, and development of the archipelago's capital city.

According to Marsudi, the investment cooperation between Indonesia and South Korea can contribute to strengthening global supply chains.

"We also welcome Korea's cooperation commitment to developing the transportation system in Indonesia, including the feasibility study of the Jakarta MRT phase 4 and the Bali LRT, opening the Jeju Air flight route to Bali, and upgrading the Port of Batam," she stated.

Meanwhile, regarding cooperation promoting people-to-people contact, Marsudi pushed for the target of 300 thousand Korean tourists to Indonesia to be increased in line with better handling of the pandemic.

"In this case, I welcome the acceleration of the Korean visa application process, from two weeks to three days. However, I also propose that Korea can grant Indonesian tourists visa-free status for short visits," she remarked.

In the context of HR cooperation, Marsudi welcomed the additional quota of 1,500 people for Indonesian workers in the manufacturing sector in Korea.

She also expressed optimism that Korea would open new sectors for Indonesian workers, such as nurses and deep-sea welding workers.

"I encourage cooperation in developing the capacity of the Indonesian workforce through e-learning, vocational education, and polytechnics, as well as the construction of a Migrant Worker Center in Bekasi," she stated.

The implementation of JCM this time is special in a way that it coincides with the celebration of 50 years of Indonesia-South Korea relations.

In their journey, the two countries have had a Special RI-South Korea Strategic Partnership Action Plan for the 2021-2025 period, with a scorecard mechanism to monitor the implementation of various cooperation programs.

Based on the scorecard for 2021-2022, there are 60 collaborative activities in various fields that are going well.

However, Indonesia emphasizes the need for special attention to cooperation in the fields of information and communication technology and sports.

Indonesia also highlighted the importance of the two countries expanding defense cooperation, including through technology transfer.

"I emphasize that collaboration between Indonesian state owned-enterprises (BUMN), such as PT PINDAD, PT DI, and PT PAL with partners in Korea needs to be continuously strengthened," she affirmed. (antaranews)

01
April

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VOInews, Jakarta: Foreign Minister Retno Marsudi delivered President Joko Widodo's letter to South Korean President Yoon Suk Yeol. During the honorary visit, Foreign Minister Retno Marsudi expressed her hope that the two countries could strengthen cooperation in the development of the electric vehicle ecosystem.

"Indonesia's hope is that Korea can continue to strengthen cooperation in building a battery-based vehicle ecosystem," she said in a statement issued on Friday (31/3).

Foreign Minister Retno also expressed Indonesia's appreciation for the great interest of Korea and its businessmen in collaborating in the development of the National Capital (IKN), especially in the areas of smart cities and water management.

Retno Marsudi also invited President Yoon so that South Korea could join as the founder of the Global Blended Finance Alliance (GBFA) which was launched on the sidelines of the G-20 Summit in Bali last November.

"GBFA is aimed at mobilizing funding sources to achieve SDGs," said Retno.

She also conveyed the importance of synergy between the ASEAN Outlook on the Indo-Pacific and South Korea's Indo-Pacific strategy to create peace, stability, and prosperity in the region.

Meanwhile, South Korean President Yoon Suk Yeol expressed his full support for Indonesia's chairmanship, both in ASEAN and at MIKTA. According to Retno, President Yoon also expressed his readiness to work together within the AOIP framework and South Korea's Indo-Pacific strategy.

"And (President Yoon) plans to attend the ASEAN Summit in September," concluded Retno. (VOI/Andy)

01
April

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Jakarta (voinews): Governor of Bank Indonesia (BI) Perry Warjiyo stated that the ASEAN had agreed to strengthen external resilience and further bolster economic recovery in the face of global spillover effects.

As is known, currently, global banking problems have the potential to spill over to other countries, including the ASEAN.

"This step also includes encouraging exports and investment, so that the balance of payments and foreign exchange reserves can be strengthened," Warjiyo stated in Badung District, Bali, on Friday.

Warjiyo made the statement during a joint press conference at the 1st ASEAN Finance Ministers and Central Bank Governors (AFMGM) 2023 meeting.

However, beyond that, he said currency diversification was also an important initiative in the region, so the ASEAN agreed to strengthen external and financial resilience, among others, through the use of local currencies to support cross-border trade and investment in the ASEAN region.

Current challenges and high dependence on major currencies for settlement of international trade and investment can increase vulnerability as well as increase risks to financial stability in the ASEAN.

In this aspect, the 1st AFMGM agreed that the Capital Account Liberalization Working Committee would be tasked with developing guidelines on the cooperation framework for settling ASEAN local currencies.

To further strengthen existing guidelines as part of the development of capital account liberalization, Warjiyo said the ASEAN would form an ASEAN Local Currency Transaction Task Force.

"That way, we will have strong and focused discussions on the ASEAN local currency transaction framework and improve guidance on the ASEAN local currency settlement cooperation framework," he remarked. (Antaranews)

01
April

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VOInews, Jakarta: Indonesia encourages respect for the rule of law and rejects anything above the law. This was conveyed by Indonesian Minister of Foreign Affairs Retno Marsudi while attending the 2nd Summit for Democracy session of the Indo-Pacific Regional Anti-Corruption Meeting in Seoul, South Korea, Thursday (30/3).

"The anti-corruption agency must be strengthened so that it can carry out its oversight function effectively," she said in a statement submitted online and received in Jakarta, Friday (31/3).

Retno Marsudi said, according to the World Economic Forum (WEF), losses due to corruption globally reached USD 2.6 trillion per year, far higher than the required funds needed to overcome global hunger which amounted to USD 40 billion per year.

"What the world needs is a strong and healthy democracy," she said.

He also highlighted the importance of involving the public to work together to fight corruption.

"Democracy opens space for public participation in good governance," she said.

Another thing that is also needed in efforts to build a strong and healthy democracy in the world is the importance of encouraging global collaboration in fighting corruption. According to Retno, efforts to fight corruption cannot be carried out alone, especially if it involves many assets and cross-countries.

"International cooperation that needs to be carried out is not limited to information exchange and capacity building, but must also involve cooperation in mutual legal assistance, extradition, and facilitating asset recovery," she said.

Furthermore, Retno Marsudi emphasized that no country should become a haven for corruptors to hide their assets. He also emphasized that democracy and good governance must mutually strengthen each other in order to eradicate corruption.

The 2nd Summit for Democracy meeting of the Indo-Pacific Regional Anti-Corruption Meeting agreed on the Seoul Declaration on Challenges and Progress in Addressing Corruption. This declaration emphasizes the commitment to promoting democracy and eradicating corruption and the importance of international cooperation in the prevention, detection, investigation, and judicial process related to corruption. (VOI/Andy)