TEMPO.CO, Jakarta - Tempo English rounded the top three news on Wednesday, March 6, 2024. Here are the highlights: Jokowi Meets Australian PM, Discusses Bilateral Relations and Investment, Senior Economist Claims Investors Hesitant to Enter IKN with 2 Million Residents Limitation, and Indonesia Calls for Appellate Body Reactivation in Abu Dhabi's WTO Ministerial Conference.

The following is the list of the top 3 news on Tempo English today:

1. Jokowi Meets Australian PM, Discusses Bilateral Relations, Investment

TEMPO.CO, Jakarta - President Joko Widodo (Jokowi) met with Australian Prime Minister Anthony Albanese on Tuesday, March 5, in Melbourne, Australia.

President Jokowi heads Indonesian delegates at the ASEAN-Australia Special Summit in Melbourne, marking 75-year-long diplomatic relations between Indonesia and Australia, emphasizing their mutual commitment to enhancing strategic cooperation in the Indo-Pacific region. The Southeast Asia bloc and Australia will also celebrate their 50 years of relations.

"Australia is a strategic partner for Indonesia and ASEAN in the Indo-Pacific region, a region where we share a future and a joint responsibility to maintain stability," said President Jokowi in a press statement.

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2. Senior Economist Claims Investors Hesitant to Enter IKN with 2 Million Residents Limitation

TEMPO.CO, Jakarta - Senior economist from Universitas Indonesia Faisal Basri said investors are hesitant to invest in the Nusantara Capital City or IKN if the residents are limited to two million. “Investors calculated their internal rate of return (IRR) or the indicators of efficiency levels of an investment,” said Faisal at Tempo Building on Monday.

Based on that calculation, Faisal explained, 1.9 to 2 million people won’t attract many investors. “[The numbers] don’t make sense,” he claimed.

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3. Indonesia Calls for Appellate Body Reactivation in Abu Dhabi's WTO Ministerial Conference

TEMPO.CO, Jakarta - The WTO’s 13th Ministerial Conference in Abu Dhabi, UAE from Feb. 26 to March 2 discussed the dispute settlement reform agenda.

“There were several demands from various parties to reform the dispute settlement system. One of which concerns the incomplete dispute settlement mechanism in WTO (World Trade Organization), especially at the appeal level,” said the Director General of International Trade Negotiations of the Ministry of Trade Djatmiko Bris Witjaksono on Tuesday, during a virtual press conference.

However, the discussion faced roadblocks as the United States kept blocking the process, accusing the appellate body of “persistent overreaching”.

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