VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

British Prime Minister Keir Starmer leaves 10 Downing Street in London, Britain September 4, 2024. Britain, under his new Labour government, is pursuing new trade ties with the rest of the world. (REUTERS/Toby Melville/File Photo) - 

VOInews, London : Southeast Asia is among the key engines of global growth in the years to come and poses “a huge commercial market”, said British Trade Policy Minister Douglas Alexander. The region has a population of about 680 million people and an estimated total gross domestic product amounting to approximately US$3.6 trillion. 

“There are real opportunities, both for investments into the United Kingdom and exports from the UK to this global growth pool,” said Mr Alexander, who is currently in Laos to attend the Association of Southeast Asian Nations (ASEAN) Economic Ministers’ Meeting. 

“We are here with a very straightforward and open message: Britain is back and we're open for business,” he told CNA on Wednesday (Sep 18).

Britain, under the new Labour government, is pursuing new trade ties with the rest of the world. British Prime Minister Keir Starmer has made economic growth the central mission of his administration, and sees giving businesses access to international markets as a key step. Mr Alexander said the UK is taking a “twin-track approach” to trade. 

“We are seeking to reset and rebuild our trading relationships with our neighbours and partners in the European Union,” he added. 

“At the same time, we're seeking to seize the opportunities of strengthening our trading relationships right around the world.”

The UK has been pursuing a range of free-trade deals since its departure from the EU. 

“In every trade deal, there are complexities, there are challenges, there are negotiations that need to be resolved,” Mr Alexander noted.

“But I genuinely believe that liberalising trade and securing effective free trade agreements can be actual win-wins for both of the parties.”

By the end of this year, the UK will join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), an Asia-Pacific trade bloc. 

“That's a market of about 600 million consumers. It includes some of the most dynamic growing economies anywhere on earth,” said Mr Alexander. 

“So, that's a good example of the kind of modern trade deal that the UK is looking forward to striking now and in the years ahead.”

Several UK ministers are in the Indo-Pacific region this week for various talks, to show the Labour government’s new approach on the world stage. 

“The Indo-Pacific is basically the fastest growing region in the world,” said British Minister for the Indo-Pacific Catherine West on the sidelines of the Milken Institute’s Asia Summit in Singapore. 

While there are many opportunities available for its businesses, Britain also has “a lot to offer” the region, including areas such as education, climate change and culture, she told CNA on Wednesday. 

“We're open for business,” she said, echoing Mr Alexander. 

“We're going to have a sense of predictability, so that people are very clear that they can invest in the UK and we can have investments here in the Indo-Pacific. Together, we can have that prosperity that we all wish to see.”//CNA-VOI

A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan. (File photo: Reuters/Issei Kato) - 

VOInews, Tokyo : There was mixed reaction across Asian share markets on Thursday (Sep 19) after a bumper interest rate cut by the US Federal Reserve. The Fed lowered its window for the benchmark policy rate by 50 basis points to between 4.75 per cent and 5 per cent. In Singapore, the Straits Times Index was up 0.47 per cent as of 10.39am. Japan's Nikkei share average rose more than 2 per cent, led by export-oriented stocks, as the yen weakened against the US dollar despite the Fed interest rate cut.

The Nikkei was up 2.1 per cent at 37,133.34, as of 12.08am GMT, while the broader Topix was up 1.9 per cent to 2,614,09. Uniqlo brand owner Fast Retailing rose to give the biggest boost to the Nikkei. Technology start-up investor SoftBank Group rose 1.4 per cent.

All of the Tokyo Stock Exchange's 33 industry sub-indexes were trading higher, led by the automakers' index, rising 3.9 per cent. Toyota Motor jumped 4.9 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.4 per cent in early trade, pressured as South Korean markets returned from holidays with heavy falls in the chipmaking sector following a downbeat Morgan Stanley note. South Korea's Kospi Index was down 0.92 per cent as of 1.56am GMT. 

Meanwhile, SK Hynix shares tumbled 9.6 per cent and Samsung fell 2.6 per cent. China shares dipped on Thursday as concerns over a fragile economic recovery offset any benefits seen from the Federal Reserve's overnight decision to cut interest rates. China's blue-chip CSI300 Index and Shanghai Composite Index both slipped 0.5 per cent in early trade, while Hong Kong benchmark Hang Seng was roughly flat. 

Investor sentiment towards Chinese equities remained subdued even though the US rate cut provided room for fresh easing by Beijing to support its sputtering economy. Yan Wang, chief emerging markets and China strategist at Alpine Macro, said while Fed rate cuts are generally positive for emerging market assets, China's domestic macroeconomic policies and growth outlook are far more critical than the Fed's actions.

By sector, Hong Kong-listed mainland property stocks outperformed the broader market and was up 2.3 per cent. Tracking the US central bank's move, the Hong Kong Monetary Authority (HKMA) on Thursday cut its base rate charged via the overnight discount window by 50 basis points to 5.25 per cent. Hong Kong's monetary policy moves in lock-step with the United States as the city's currency is pegged to the greenback in a tight range of 7.75 to 7.85 per dollar//CNA-VOI

Coordinating Minister of Maritime Affairs and Investment H.E. Luhut Binsar Pandjaitan when opening the Bali International Airshow 2024 in Bali. (Photo : Kemenkomarves) - 

VOInews, Bali : Indonesia opened its doors to the world at the long anticipated Bali International Airshow 2024, with the event being declared open by the Coordinating Minister of Maritime Affairs and Investment H.E. Luhut Binsar Pandjaitan, a first for the nation in almost 30 years.

Poised to elevate Indonesia’s aerospace and defense sectors to greater heights, the airshow is a testament to Indonesia’s growing prowess in the aviation landscape.

This landmark event brings together global aerospace leaders, defense giants, industry experts, and innovators, all converging in Bali to showcase the latest advancements in aviation technology, military defense systems, and sustainable aerospace solutions.

As the largest event of its kind in the region, the Bali International Airshow 2024 reflects Indonesia's commitment to elevating its aerospace and defense sectors to new heights, solidifying its position as a key player in the Asia-Pacific aviation landscape.

There was also almost 1,000 other attendees at the Opening Ceremony, including visiting dignitaries who attended the opening ceremony from defense officials, ministers, and industry leaders from over 20 countries, including Malaysia, Thailand, Singapore, the Philippines, Timor-Leste, South Korea, Australia, India, USA, Japan, New Zealand, China, Papua New Guinea, and Turkey.

The event was also marked by the signing of the Letter of Intent (LOI) for the Bali International Airshow between the Coordinating Ministry for Maritime Affairs and Investment, Ministry of Transportation; Ministry of Tourism and Creative Economy, Ministry of Defense, PT Aviasi Pariwisata Indonesia (InJourney), an enterprise that manages Indonesia's aviation and tourism sectors, the Indonesian National Armed Forces (TNI AU) and PT Inaro Tujuh Belas.

The international participation underscores the country’s strategic ambition to become a pivotal player in the Asia Pacific region solidifying its growing presence on the international aviation stage in becoming a regional hub for aerospace innovation and defence technology. The airshow will see attendance from 48 countries/regions including hosted delegations, trade visitors and exhibitors as well as participation from 100 companies.

The Bali International Airshow 2024 is set to make great strides in the international aviation industry, making a mark in history as it showcases Indonesia’s demonstration of aerial skill and precision in the sector//VOI 

British Minister of Development, Women and Equality, Anneliese Dodds and Minister of Energy and Mineral Resources of the Republic of Indonesia (ESDM), Bahlil Lahadalia after signing MOU on critical mineral in Jakarta on Wednesday September 19th 2024. (Photo : VOI/NK) - 

VOInews, Jakarta : British Minister of Development, Women and Equality, Anneliese Dodds and Minister of Energy and Mineral Resources of the Republic of Indonesia (ESDM), Bahlil Lahadalia signed a memorandum of understanding (MoU) on critical minerals in Jakarta on Wednesday (17/9).  

The British Ministry of Foreign Affairs and Development (FCDO) and the Ministry of Energy and Mineral Resources of the Republic of Indonesia (ESDM) signed a memorandum of understanding in the field of critical minerals which was carried out on the sidelines of the 10th Indonesia International Geothermal convention and exhibition held in Jakarta from 18 to 20 September 2024.

After the signing of the MoU, Indonesian Minister of Energy and Mineral Resources, Bahlil Lahadalia, explained that this MoU was a follow-up to the agreement between the two countries that had been agreed previously.

“This is an agreement between the Indonesian and British governments, the substance of which is that we will exchange cooperative technology in the field of critical minerals and also new renewable energy. So actually, this is part of a follow-up to what has been agreed between the two countries so far. The Minister and I have signed and we will carry out the follow-up," Bahlil said. 

On the same occasion, British Minister of Development, Women and Equality, Anneliese Dodds, said that this MoU is a framework for long-term cooperation and collaboration in the field of critical minerals and other related fields between the UK and Indonesia. It is hoped that it can create jobs for the Indonesian people.

“So, this Memorandum of understanding sets a framework for cooperation and collaboration between our countries on critical minerals that covers a whole range of different issues or joint commitment to investment, to create jobs and ensuring there are local benefits for local people from critical minerals. So this is a long term commitment rather than one spesific project or investment,” Minister Dodds. 

The energy transition and net zero agenda will increase demand for critical minerals threefold by 2030. This strategic collaboration will open up opportunities for the UK and Indonesia to contribute to the global energy transition through sustainable development of the critical minerals sector. The UK has committed US$ 1.15 billion in collateral funding to support the Just Energy Transition Partnership (JETP) in Indonesia//VOI