Jakarta (ANTARA) - The Coordinating Ministry for Economic Affairs emphasized the need to implement the digitalization and green transition megatrends to realize the ASEAN Vision 2045 as the world's fourth-largest economic region.

"To achieve this (ASEAN Vision 2045), we need to have a strategy to overcome future disruptions, develop sectors with high growth potential, and embrace megatrends, such as digitalization and the green transition," Deputy for Coordination of International Economic Cooperation, Edi Prio Pambudi, stated on Wednesday.

According to Pambudi, ASEAN is currently facing various multidimensional challenges, such as geo-political and geo-economic tensions, green technology, artificial intelligence, an aging population, and the climate crisis.

He also highlighted three proposals related to the preparation of the ASEAN Economic Pillar Strategic Plan (AEC Strategic Plan) 2026-2030, namely strengthening ASEAN resilience and cross-pillar coordination, revitalizing ASEAN priority sectors, as well as testing cross-pillar coordination mechanisms in the digital transformation and technology sectors.

He conveyed the proposals at the 45th meeting of the ASEAN Task Force for Economic Integration (HLTF-EI), in Vang Vieng, Laos, on February 19-21, 2024.

Pambudi stated that in order to strengthen ASEAN resilience and cross-pillar coordination, member countries could consider creating a platform to increase synergy and identify joint actions and collaboration between the three ASEAN pillars.

Moreover, he underscored the need to conduct revitalization of ASEAN's priority sectors, considering the current changes in the economic landscape.

Hence, there is an opportunity for ASEAN to revive cooperation in priority sectors to increase trade and investment while generating higher growth.

Furthermore, he said that trials of the cross-pillar coordination mechanisms in the digital transformation and technology sectors should be carried out to see the effectiveness and efficiency of these mechanisms before being widely implemented in other sectors.

At the meeting, Indonesia also expressed support for the formation of the Task Force for the Blue Economy (ACTF-BE) and plans to implement the first ACTF-BE meeting that will be held in August 2024 as part of the 46th HLTF-EI meeting in Luang Prabang, Laos.

"As we all know, AEC Post-2025 will be formed in a new context, and we can no longer carry out business as usual," Pambudi added.

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Translator: Uyu Septiyati Liman, Cindy Frishanti Octavia
Editor: Azis Kurmala
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