Economic Recovery A Top Priority For ASEAN Leaders

Jakarta – Indonesian President Joko Widodo (Jokowi), accompanied by Coordinating Minister for Economic Affairs, Airlangga Hartarto, spotlighted a three-pronged strategy to expedite economic recovery in the ASEAN region. The country has been actively promoting cooperation in various sectors among member countries

“Three things must be done to accelerate economic recovery in the region, namely, resurrecting and restoring the sub-regional tourism sector, accelerating the development of hard and soft infrastructure, and realizing a green and sustainable sub-regional economy,” Jokowi conveyed at the 14th IMT-GT Summit meeting in Phnom Penh, Cambodia, as stated by the Coordinating Ministry for the Economic Affairs here, Friday.

Mr. Jokowi considers the momentum of the 14th Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) Summit this year to be crucial, where state leaders laud the collective efforts to strengthen cooperation among the member nations.

It was noted that the gross domestic product (GDP) of the IMT-GT area increased by 39%  during the 2014-2021 period and even during the COVID-19 pandemic.

Furthermore, Jokowi noted three fundamental steps that should be taken to drive recovery, with the first being revitalization of the sub-regional tourism sector.

“I think this is very urgent because our tourism activities have fallen drastically to above 90 percent in the last two years,” he pointed out.

He remarked that related stakeholders must accelerate digital technology in marketing and developing halal tourism in the sub-region.

“Our target is to become a global halal hub, with a market value of US$7 trillion by 2030,” he noted.

The second step pertains to expediting the development of hard and soft infrastructure.

“Physical infrastructure and human resources are the pillars of development. The two cannot be separated. They must complement each other,” Jokowi emphasized.

The third step entails realizing a green and sustainable sub-regional economy.

“The green economy is the future of our economy. Hence, we must accelerate the clean energy transition, develop employment opportunities, invest in renewable energy, and accelerate the implementation of the 2019-2036 Green City Development Framework,” he remarked.

The 14th IMT-GT Summit forum ratified two documents — the IMT-GT Leaders’ Joint Statement and the IMT-GT Implementation of Blue Print in 2022-2026 — as well as supporting two initiatives: IMT-GT 30th Anniversary Celebration and IMT-GT Visit Year on 2023-2025.