Jakarta, The Indonesia Post – Coordinating Minister for Economic Affairs Airlangga Hartarto welcomed the conclusions conveyed by the participants of the Indo-Pacific Economic Framework Ministerial Meeting (IPEF) ministerial meeting at the closing ceremony.
“The Indonesian government respects the values of justice, inclusiveness, transparency, and accountability based on considerations that have been agreed upon in the multilateral mechanism,” Airlangga said in an official statement, Saturday.
The meeting resulted in the IPEF framework focusing on trade, supply chains, green energy and a fair economy.
Discussions related to a fair economy need to continue to encourage fairer implementation in the trade and investment fields, and must synergize with the national tax system and anti-corruption mechanisms to accelerate the achievement of a fair economy.
Regarding the development of a clean economy, which is also discussed in IPEF, it focuses on innovative efforts to anticipate the impacts of climate change through the use of renewable energy which requires international funding.
“For sustainable development financing or SDGs, the Government of Indonesia applies a blended finance strategy to mobilize public and private funds through innovative financing structures, by encouraging the involvement of all parties, both private and government institutions,” said Airlangga.
Energy transition mechanisms, decarbonization, more sustainable land use, innovation to remove carbon, incentives for low-carbon investments to achieve a clean economy and sustainable development are also being discussed.
Coordinating Minister Airlangga also met with the United States Trade Minister Gina Raimondo to discuss an agreement to immediately follow up at the technical level various concrete steps in efforts to encourage the four pillars of IPEF.
“I and Secretary Raimondo agreed to continue to intensify technical discussions and push for concrete deliverables in a short time, and it is planned that in October we will meet again to discuss the follow-up,” he said. (mhn/bbs)
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