VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

Jakarta (voinews): Deputy Minister of Trade Jerry Sambuaga expressed optimism that Indonesia's ASEAN chairmanship in 2023 would usher in progress and drive economic growth of the countries in Southeast Asia in a better direction.

"Indonesia is the most populous country in the ASEAN. Of course, in terms of size and the economy, Indonesia plays a significant role. Indonesia is also the largest democracy in ASEAN. These aspects are Indonesia's assets in leading the ASEAN and increasing the economic growth of ASEAN countries in a better direction," he stated in Magelang, Central Java, on Wednesday.

According to Sambuaga, Indonesia should be prompt in capitalizing on positive opportunities for its exports amid its chairmanship in the ASEAN in 2023. Moreover, in the last five years, Indonesia's trade balance surplus with the ASEAN has continued to increase.

"In 2018, a trade balance surplus was recorded at 3.92 billion US dollars. The surplus is getting bigger to reach 20.42 billion US dollars in 2022,” he stated.

Moreover, the ASEAN has become an active global trader, with a value reaching US$3.4 trillion in 2021, or 7.5 percent of the world's global trade. This value has increased significantly since 2010, with a value of US$2 trillion.

Despite being affected by the COVID-19 pandemic, the ASEAN economy has demonstrated the ability to recover well and is projected to achieve a 11 percent year-on-year growth.

The Ministry of Trade noted that Indonesia's non-oil and gas trade balance with the ASEAN during the 2018-2022 period experienced a surplus and continued to increase. In 2018, the trade balance surplus was recorded at US$3.92 billion and reached US$20.42 billion in 2022.

Meanwhile, in January 2023, Indonesia's trade balance with the ASEAN still registered a surplus of US$1.42 billion. Of the nine other ASEAN member countries, Indonesia only experienced a trade balance deficit of US$398.8 million with Thailand and US$10.8 million with Laos. (Antaranews)

Chinese defence officials met their Australian counterparts in Canberra on Wednesday, China's Ministry of National Defense said, in their first formal meeting since 2019.

The talks were helpful in developing a stable relationship between their militaries, the Chinese defence ministry said, and further enhanced mutual understanding.

Australia's defence department confirmed the meeting, adding that dialogue was conducted "in a professional atmosphere with both sides exchanging views on regional security issues".

The talks come after Chinese foreign minister Qin Gang said that the two countries have restarted institutional dialogue and consultation in multiple areas, in a meeting with his Australian counterpart on the sidelines of the G20 meeting earlier this month.

Ties between the two countries deteriorated in recent years, with China imposing sanctions on Australian exports after Canberra called for an international inquiry into the origins of the novel coronavirus.

They are now making progress towards the resumption of Australian timber exports to China in the latest sign of the normalisation of trade.

But as they work to improve ties, the alliance of the United States, Australia and Britain has made moves to counter China's ambitions in the Indo-Pacific.

Last week, the AUKUS alliance unveiled details of a plan to provide Australia with nuclear-powered attack submarines from the early 2030s.

China's foreign ministry criticised the deal, saying that the AUKUS has disregarded concerns of the international community and "gone further down a dangerous road". (reuters)

Russia said on Wednesday that a division of its Bastion coastal defence missile systems had been deployed to Paramushir, one of the Kuril islands in the north Pacific, some of which Japan claims as its territory.

The move is part of a wider strengthening of Russian defences in its vast far eastern regions, Defence Minister Sergei Shoigu said, partly in response to what he called U.S. efforts to "contain" Russia and China.

Shoigu was speaking to Russia's top army brass a day after President Vladimir Putin and Chinese leader Xi Jinping cemented their "no limits" partnership at talks in the Kremlin with agreements on deeper energy and military cooperation.

"To contain Russia and China, the United States is significantly increasing its military presence in the Asia-Pacific region, strengthening its political and military links with its allies, continuing to create a new American security architecture in this region," Shoigu said in a video of his address published by Russia's defence ministry.

Shoigu said the Bastion system would bolster Russian security around the Kuril island chain.

Japan, a close U.S. ally, claims the four southern Kuril islands, which were seized by Soviet forces at the end of World War Two. Japan does not claim Paramushir, one of the northern Kuril islands.

The issue has prevented Moscow and Tokyo ever signing a peace treaty formally ending hostilities.

MODERNISATION

Russian armed forces in the east of the country have received around 400 items of modern military equipment over the past year, including SU-57 jets and anti-aircraft missile systems, Shoigu said.

"The military capabilities of the eastern military district have significantly increased," he said.

Shoigu also said the modernisation of Moscow's air defence system would be completed this year.

Russian officials have blamed Kyiv for a string of drone attacks deep inside Russian territory since the beginning of the military campaign in Ukraine.

On the Ukraine conflict, Shoigu said Russian aerospace forces had so far destroyed more than 20,000 Ukrainian military facilities since the start of what Moscow calls its "special military operation". (reuters)

Sri Lanka will kick off the next round of talks with creditors in the third week of April, President Ranil Wickremesinghe said on Wednesday, adding that the debt-stricken nation has started to receive funds from the International Monetary Fund.

The IMF has released the first tranche of about $330 million, part of a nearly $3 billion bailout approved by it on Monday, Wickremesinghe told parliament.

"This will create opportunities for low-interest credit, restore foreign investors' confidence and lay the foundation for a strong new economy," he said.

The IMF bailout is expected to catalyse additional support to the tune of $3.75 billion from the likes of the World Bank, the Asian Development Bank and other lenders. It also clears the way for Sri Lanka to restructure a substantial part of its $84 billion worth total public debt.

Sri Lankan officials will start the next round of talks with bondholders and bilateral creditors in the third week of April, Wickremesinghe said, adding that a fully transparent process will be followed.

Sri Lanka also aims to reduce inflation to a single digit by mid-2023 and later to 4%-6%, Wickremesinghe said. The country's National Consumer Price Index (LKNCPI=ECI) rose an annual 53.6% in February.

This was the 17th IMF bailout for Sri Lanka and the third since the country's decades-long civil war ended in 2009.

Economic mismanagement coupled with the impact of the COVID-19 pandemic left Sri Lanka severely short of dollars for essential imports at the beginning of last year, tipping the island nation into its worst financial crisis in seven decades.

Unlike previous bailouts, which were mainly used to bolster foreign exchange reserves, the funds from the current programme can also be used for government spending, senior IMF official Masahiro Nozaki said on Tuesday. (reuters)