The IMT-GT, which marks 30 years of cooperation this year, is a forum that prioritizes development and economy in the region by involving all governments/ministries, Hartarto said here on Friday.
"The economic growth in the IMT-GT region is expected to strengthen its role in the Strait of Malacca, especially for tourism, which is one of the mainstay (sectors) in IMT-GT," he added after an IMT-GT meeting held in Batam City, Riau Islands.
According to him, in 2021, IMT-GT's trade rose by around US$20 billion.
"Then, tourism has revived. And these are the concrete things that are being encouraged," he said.
Several topics were discussed at the meeting, including the need to improve the green economy, which is key for financing and green economic growth.
"The development of the downstreaming of rubber and palm oil is also important because the three ASEAN countries which are the main producers of rubber and palm oil are these three countries (Indonesia, Malaysia, Thailand)," the minister highlighted.
According to Malaysian Economy Minister Rafizi Ramli, the IMT-GT forum is a part of efforts by countries to align and cooperate to create a stronger ASEAN economy in the future.
With the current situation, IMT-GT will face many economic challenges at the global level, he said.
Meanwhile, Thai Deputy Minister of Finance, Julapun Amornvivat, said that his side will provide guidelines and directions regarding specific issues, such as increasing economic corridors and the implementation of a blue economy, in which Thailand has played a relatively significant role.
He also stated that his side is pleased to see IMT-GT countries joining forces and jointly developing cross-border payments to cover local businesses and service providers in order to optimize capital flows and improve services for the people.
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Translator: Jessica Allifia, Raka Adji
Editor: Rahmad Nasution
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