Britain Supports and Shares Various Experiences with Indonesia to Join CPTPP

London, WISATA - In a meeting with Anne-Marie Trevelyan, the UK Minister for the Indo-Pacific at the Foreign, Commonwealth & Development Office, Minister of Economic Affairs Coordination Airlangga Hartarto expressed Indonesia's desire to join The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CP-TPP). CPTPP, also known as TPP-11 due to its 11 member countries, is a trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.

This agreement is a development from the Trans-Pacific Partnership (TPP) that was never ratified due to the withdrawal of the United States. The eleven members represent economies that account for 13.4 percent of the global gross domestic product or about 13.5 trillion US dollars. CPTPP is one of the largest free trade areas in the world based on GDP. Minister Airlangga stated that Indonesia's active participation in various forums and international agreements such as the G20, ASEAN, RCEP, APEC, IORA, and IPEF will increasingly open up opportunities for mutually beneficial cooperation and investment. "From the initial review of the 30 chapters of CPTPP rules, about 70 percent of domestic rules are already aligned," said Minister Airlangga, indicating that it should not be difficult to complete the accession process.

In late March 2024, Britain agreed to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trading bloc. This is Britain's largest trade deal since Brexit, and joining the CPTPP will place Britain at the center of a dynamic and growing Pacific economic group. Therefore, Indonesia will learn from Britain's experience in joining the CPTPP.

As a large country with strong modalities, Indonesia must seize extensive cooperation opportunities to strengthen its domestic economy. Indonesia is currently in the process of accession to OECD membership with the support of 38 countries, including Britain. Minister Anne affirmed that Britain supports Indonesia's intention to join the OECD, a club of developed countries, and the CPTPP. "We are ready to share experiences and assist in the accession process," said Minister Anne. Furthermore, Minister Anne suggested building common views, involving businesses to leverage trade agreements, and gaining long-term added value.

The meeting with Minister Anne is a return visit since Minister Anne's visit to Jakarta on February 29. The two Ministers also explored various potential collaborations, especially regarding the production of nickel and other important minerals, renewable energy development, and strengthening the supply chain.

In this meeting, Minister Airlangga was accompanied by Deputy Minister of Trade Jerry Sambuaga, Indonesian Ambassador to the UK Desra Percaya, Deputy of Economic Affairs Susiwijono Moegiarso, Deputy of Economic Affairs Edi Pambudi, and Economic Affairs Expert Staff Rizal Edwin Manangsang.