According to Hartarto, a new economic bloc is necessary due to rising global tensions.
The increase in global tensions will have implications for trade, investment, and geopolitical stability.
"Regional economic blocs, such as ASEAN, play a vital role as buffers to maintain economic stability in the region amid the US and China trade war," the minister noted in a statement.
Airlangga voiced optimism regarding the progress of the ongoing Indonesia-Gulf Cooperation Council (GCC) FTA negotiations before ministers from various nations.
He emphasized that Indonesia can foster collaboration with Gulf states in vital sectors, such as energy, finance, and infrastructure.
The minister assessed that building strong partnerships with all parties is Indonesia's priority in achieving resilient economic growth.
Indonesia, with a US$1.3 trillion economy and a population exceeding 200 million, welcomes cooperation with various countries and international forums, such as ASEAN, GCC, and IPEF.
"Such cooperation is expected to strengthen Indonesia's position in global trade, infrastructure financing, and technology collaboration, which are very important to achieve Indonesia's GDP growth target of eight percent," he explained.
The World Government Summit, an annual meeting held in Dubai, UAE, since 2013, aims to support innovative international collaboration to advance governance and sustainable global economic development.
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Translator: Bayu Saputra, Yashinta Difa
Editor: Primayanti
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