Indonesia and Australia Discuss Supply Chain Issues in Indo-Pacific Economic Meeting

INTI- Indonesian Minister of Economic Affairs, Airlangga Hartarto, held a virtual meeting with Australian Minister for Trade and Tourism, Senator the Hon Don Farrell, on Tuesday morning (23/05). The meeting discussed key issues related to supply chains, which have drawn the attention of 14 Indo-Pacific countries currently engaged in negotiations for the Indo-Pacific Economic Framework for Prosperity (IPEF). The objective is to ensure secure and resilient supply chains while minimizing disruptions and vulnerabilities for countries in the Indo-Pacific region.

The participating IPEF partner countries are expected to commit to achieving collective goals for robust, anticipatory, resilient, and competitive supply chains in the Indo-Pacific region. Discussions on supply chain issues include the identification of critical sectors and goods, enhancing resilience and investment in these critical sectors, establishing mechanisms for information sharing and crisis response, strengthening supply chain logistics, enhancing the role of workers, and improving supply chain transparency.

During the meeting, both ministers emphasized the importance of cooperation for economic well-being and stability in the region and highlighted the progress made during the negotiation rounds. "Progress in each negotiation discussion is crucial, so it is necessary to expedite discussions on pending issues," said Senator Farrell.

"In negotiations, partner countries are interested in ensuring that discussions on relevant issues are based on jointly adopted international agreements and frameworks, and they encourage bridging the existing differences, taking into account the various domestic interests of partner countries," stressed Minister Airlangga, sharing his notes and observations.

The meeting concluded with a discussion on the agenda for the Ministerial-Level Meeting of the IPEF, which will be held this week. As known, Minister Airlangga and Senator Farrell, along with ministers from the other 12 IPEF participant countries, have been invited to attend the Second Ministerial-Level Meeting of the Indo-Pacific Economic Framework for Prosperity (IPEF) scheduled for May 26-27, 2023, in Detroit, Michigan, United States.

Last year, ministers from the 14 IPEF participant countries agreed to the Ministerial Declaration issued at the First Ministerial-Level Meeting of the IPEF held on September 8-9, 2022, in Los Angeles, United States. ***. Hans