Jakarta (ANTARA) - President Joko Widodo (Jokowi) emphasized the importance of forging mutually beneficial cooperation between member countries of the Indo-Pacific Economic Framework for Prosperity (IPEF).

Jokowi made the statement in his speech at the IPEF Meeting held in San Francisco, the United States, on Thursday local time.

"Indonesia is always open to establish cooperation with anyone by upholding the principle of mutual benefit. This is the very principle that has been driving Indonesia to participate in IPEF negotiations," he remarked as monitored via a video uploaded by his secretariat's YouTube channel in Jakarta on Friday.

According to the head of state, understanding the national interests of one another, especially those of developing countries, constitutes the key to fostering sound cooperation.

In his speech, President Jokowi also said that the success of the IPEF would rely heavily on how its parties realize mutually beneficial cooperation.

Cooperation in the expansion of trade and investment, the strengthening of supply chain of critical minerals, green economy, and fair economy have become the crucial pillars of cooperation at IPEF, he affirmed.

"We need to push for concrete cooperation in those priority fields, and I appreciate the signing of cooperation in the second pillar regarding supply. This signing serves as a concrete achievement made by IPEF members to respond to disruptions in the global supply chain," he stated.

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The president then gladly welcomed the IPEF members' success in reaching substantial conclusions on negotiations on the third and fourth pillars, namely green economy and fair economy.

He further affirmed that Indonesia is committed to finalizing discussion on the first pillar of IPEF cooperation, which pertains to trade activities, in 2024, adding that the country would implement agreements reached.

Earlier, on June 5, 2023, Economic Affairs Minister Airlangga Hartarto stated that the first pillar is still under discussion and has not been finalized while noting that the pillar is one of the most crucial ones.

He made the statement after meeting with President Jokowi in Jakarta to brief him on the results of the IPEF Ministerial Conference that took place in Detroit, Michigan, the United States, on May 26-27, 2023.

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Translator: Rangga P, Tegar Nurfitra
Editor: Yuni Arisandy Sinaga
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