TEMPO.CO, Jakarta - The Indonesian and Australian governments have extended their cooperation in economic management by signing the Australia-Indonesia Partnership for Economic Development (Prospera) Exchange of Letters, which will be effective until 2026.

The exchange of letters was signed by an official from the Coordinating Ministry for Economic Affairs, Edi Prio Pambudi, and Australian Deputy Secretary for Southeast Asia and Global Partners Group, Department of Foreign Affairs and Trade (DFAT), Michelle Chan.

"In addition to expert provision and routine consultation, the two countries can also exchange experience on reformation of the two countries' policies through the Prospera program," Pambudi said in a statement released on Friday.

Prospera is a cooperation program between Indonesia and Australia that aims to encourage strong and sustainable economic growth.

The economic management program brings together Indonesian and international experts to support Indonesian economic policy priorities.

These include taxation administration, health system reformation, recovery from COVID-19 impact, digital acceleration, inclusive policies for the disabled, as well as climate and energy.

Beyond short-term challenges, such as post-pandemic economic recovery, Indonesia has a very large economic opportunity in the future, and Prospera can help support policy makers to utilize it, Chan said.

Prospera has partnered with around 30 institutions in Indonesia.

They include the Coordinating Ministry for Economic Affairs, the Finance Ministry, Statistics Indonesia, the Audit Board of Indonesia, and the State Apparatus Utilization and Bureaucratic Reform Ministry.

Prospera has become a valuable source to help decision makers in Indonesia handle increasingly complex challenges, Australian Ambassador to Indonesia, Penny Williams, explained.

The partnership between government institutions in Indonesia and Australia is a valuable element of this program and the latest commitment reflects a strong partnership between the two countries, she added.

Prospera has a long history beginning with the Indonesia-Australia economic management program, which was launched after the 1997–1998 Asian financial crisis.

Since then, Prospera has developed to resolve new challenges, such as this year's global multi-dimension crises and the emergence of the COVID-19 pandemic.

ANTARA

Click here to get the latest news updates from Tempo on Google News