The ASEAN-Indo-Pacific Forum is present to turn rivalry in the Indo-Pacific into mutually beneficial cooperation, and to build a habit of formulating win-win cooperation without feeling excluded.
Jakarta (ANTARA) - Indonesia has continued to promote economic cooperation in the Indo-Pacific to resolve challenges stemming from geopolitical rivalries and potential conflicts in the region, Indonesian President Joko Widodo said at the opening session of the ASEAN-Indo-Pacific Forum (AIPF) here on Tuesday.

Through the AIPF — which is being held in Jakarta on September 5 and 6, 2023, as the flagship event of the 43rd ASEAN Summit — Indonesia is seeking to capitalize on ASEAN's potential market and promising investment opportunities given that the collective population of its member countries is pegged at 680 million.

"The ASEAN-Indo-Pacific Forum is present to turn rivalry in the Indo-Pacific into mutually beneficial cooperation, and to build a habit of formulating win-win cooperation without feeling excluded," President Widodo said.

The AIPF will discuss three main issues -- green infrastructure and resilient supply chains, innovative sustainable financing, as well as digital transformation and creative economy.

ASEAN's economy, which is expected to grow stronger through the development of the downstream industry and an electric vehicle (EV) ecosystem, is a concrete example of efforts to build a regional supply chain, President Widodo said.​​​​​​​

ASEAN needs US$29.4 trillion for the energy transition as well as innovative financing schemes through mutually beneficial and sustainable partnerships, he noted.

He further highlighted the importance of cooperation in digital transformation and the creative economy, which is estimated to continue to grow to US$1 trillion by 2030.

At the AIPF's opening session, President Widodo lauded ASEAN countries and their partners for their contribution to and support for 93 cooperation projects worth US$38.2 billion and 73 potential projects worth US$17.8 billion.

"This reflects our commitment to walking the talk (in) establishing a peaceful, stable, and prosperous Indo-Pacific. May our joint efforts be able to give tremendous benefits to people in the region and beyond," he said.

Concurring with President Widodo, State-Owned Enterprises (SOEs) Minister Erick Thohir emphasized the importance of regional cooperation and said it is key to achieving progress in the Indo-Pacific.

"The transformative power of regional cooperation can encourage progress with the ASEAN and Indo-Pacific communities," he added.​​​​​​​

Thohir said that in facing increasingly complex global challenges, the Indonesian government, through its state-owned enterprises, is actively collaborating with global partners to resolve problems in several sectors.

This collaboration has been evident from the formation of strategic alliances for building a battery value chain ecosystem, promotion of cooperation in and expansion of connectivity and digitalization in all regions, and participation in regional infrastructure development, among others, he pointed out.

The AIPF could, hopefully, prompt discussions that inspire new partnerships, strengthen existing relationships, and encourage innovative solutions — both in ASEAN and the Indo-Pacific, the minister added.

As part of Indonesia's ASEAN chairmanship this year, the AIPF is being held as a platform for promoting constructive dialogue as well as building inclusive and concrete collaboration between SOEs and the private sector.

AIPF was inspired by the ASEAN Outlook on the Indo-Pacific (AOIP), which was initiated by Indonesia and adopted by ASEAN member countries in 2019.

It aims to strengthen inclusive regional architecture, encourage collaboration, strengthen mutually beneficial cooperation, and tap into existing opportunities in the Indo-Pacific region.

The AIPF is also in line with the theme of this year's ASEAN Summit of making ASEAN the epicenter of growth while maintaining peace, security, stability, and prosperity in the Indo-Pacific.

The ASEAN region is considered to have sufficient capital to become the center of global economic growth with a collective gross domestic product (GDP) of US$ 3.3 trillion in 2021.

Based on that figure, ASEAN is the fifth-largest economic region in the world. With its huge population, ASEAN also has tremendous potential to become a partner for cooperation.

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Reporter: Yashinta Difa Pramudyani
Editor: Sri Haryati
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