Jakarta (ANTARA) - Coordinating Minister for Economic Affairs Airlangga Hartarto said Australia has placed Indonesia on a list of countries deemed ready to begin the accession process for membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

The assessment reflects Indonesia’s strong policy foundation, which is considered aligned with the agreement’s requirements.

Airlangga explained that many CPTPP provisions have essentially been adopted by Indonesia through its participation in international frameworks such as the WTO, RCEP, ASEAN, and the OECD accession process.

He said Indonesia will only need to make several regulatory adjustments to meet CPTPP commitments.

“The CPTPP is a trade agreement among economies,” he said in a statement issued in Jakarta on Friday.

The CPTPP is one of the most ambitious trade agreements, currently linking twelve countries with a combined population of around 590 million and accounting for nearly fifteen percent of global gross domestic product.

In 2025, Australia will serve as Chair of the CPTPP and is encouraging membership expansion and deeper economic cooperation in the Indo-Pacific region.

Earlier, Australia’s Minister for Trade and Tourism Don Farrell said four potential candidates were considered aligned with the Auckland Principles, namely Uruguay, the United Arab Emirates, the Philippines, and Indonesia.

Australia has initiated the accession process with Uruguay and plans to proceed with the other three countries in 2026.

The Indonesian government welcomed Australia’s recognition, viewing it as an important signal of Indonesia’s readiness to play a larger role in regional economic cooperation.

During a meeting with Singapore’s Minister for Trade and Industry Gan Kim Yong on a recent working visit, Airlangga also reaffirmed Indonesia’s commitment to advancing its CPTPP accession process.

Indonesia’s membership in the CPTPP is projected to bring substantial benefits to the national economy.

Strategic opportunities include broader market access, particularly because several CPTPP members do not yet have bilateral trade agreements with Indonesia. Export growth potential is also considered significant.

Greater competitiveness of Indonesian products is expected to attract more foreign direct investment, supported by a more transparent and predictable investment climate.

Deeper economic integration could further strengthen Indonesia’s national gross domestic product.

For the CPTPP, Indonesia’s accession would add considerable value by enhancing regional integration, creating new economic opportunities, strengthening the relevance of the CPTPP as a modern trade bloc, and deepening economic ties with ASEAN.

Indonesia’s position as the largest economy in Southeast Asia is expected to reinforce the partnership.

Airlangga added that Indonesia’s participation in the CPTPP would push national trade policies toward higher standards.

“These higher standards are expected to encourage export and import growth while increasing overall trade volume among CPTPP member countries,” he said.

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Translator: Bayu Saputra, Primayanti
Editor: Azis Kurmala
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