Digital trade between Indonesia, Philippines must be strengthened

Digital trade between Indonesia, Philippines must be strengthened

Minister of Trade Muhammad Lutfi. (ANTARA/HO-Public Relations Bureau of the Ministry of Trade)

The digital economy will grow significantly from around US$40 billion to US$323 billion
Jakarta (ANTARA) - Trade Minister Muhammad Lutfi has called for the strengthening of cooperation between Indonesia and the Philippines in the field of digital trade, saying digital economic opportunities must be utilized for community welfare through fair trade.

Digital economic opportunities can provide benefits and advantages to various parties, especially amid the COVID-19 pandemic, he remarked.

"The digital economy is something that cannot be avoided. For this reason, every country must be able to take advantage of this opportunity and ensure an increase in people's welfare," the minister said at the 'E-Commerce Seminar and Short Video Contest Awards 2021', according to a statement released in Jakarta on Monday.

The virtual event was organized by the Manila Philippines trade attaché in collaboration with the Indonesian Diaspora Network, Manila chapter (IDN Manila).

The event, themed 'Strengthening Indonesia-Philippines Relationship Through E-Commerce', was attended by the Philippine Minister of Trade and Industry, Ramon Lopez, ad interim Charge d'Affaires of the Indonesian Embassy in Manila, Widya Rahmanto, vice president of Asian Development Bank, Bambang Susantono, and chairman of IDN Manila, Lusie Susantono.


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Speaking at the event, Minister Lutfi said that Indonesia's gross domestic income is expected to triple from US$1.1 trillion to US$2.8 trillion by the end of 2030. In addition, the COVID-19 pandemic has brought benefits to the world of digital commerce, he noted.

"The digital economy will grow significantly from around US$40 billion to US$323 billion," he said.

Meanwhile, Minister Lopez said that Indonesia has become a potential trading partner for the Philippines.

Cooperation between the two countries in the digital economy must be boosted, especially in increasing the facilitation of micro, small and medium enterprises (MSMEs), he added.

"Cooperation between the two countries, especially the digital economy, must be strengthened in post-pandemic economic recovery. So that it can create a better shared future for the people of both countries," Lopez said.


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Meanwhile, head of IDN Manila, Lusie Susantono, said the pandemic has had a major impact on digital growth in all walks of life.

Nowadays, it is commonplace to shop online, transact digitally, or do activities virtually, she pointed out.

"This is reflected in the holding of this seminar, which is expected to provide benefits for preparation in dealing with the changes in digital trading activities," she remarked.

 

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