The bloc has a population of 650 million and a gross domestic product that reached $3.36 trillion in 2021, when foreign direct investment in its member countries hit $179 billion, he said.
He also pointed out that trade between ASEAN and its partners has also grown significantly, reaching a 34 percent increase over the past decade, and that most countries in the grouping have inflation rates below world levels.
Hartarto pointed out that in his capacity as current ASEAN President, Indonesia will work to move forward along three strategic axes: recovery – rebuilding after the scourge of the Covid-19 pandemic, digital economy and sustainability.
Indonesia’s main strategy to increase economic integration and boost competitiveness to make ASEAN a hub of global economic growth is digital transformation, he stressed.
To improve on these achievements, the Indonesian minister said the association must reap the benefits of regional economic cooperation, both in the form of the ASEAN plus one free trade agreement and the Regional Comprehensive Economic Association (RCEP) signed in 2020. .
Asean, he added, needs to strengthen air and sea links, form the bloc’s power grid and promote food security by strengthening the supply chain and regional logistics system.
In particular, the group needs to work together across sectors to ensure food security and develop a mechanism to strengthen the early warning system, he said.
On the other hand, Hartarto added, the Association of Southeast Asian Nations needs to advance its sustainability agenda through the development of renewable energy, the establishment of an ecosystem of electric vehicles, and a green and creative regional economic framework.
mem/mpm