Indonesia May Develop ASEAN Market after TPP Collapse
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Kamis, 1 Januari 1970 07:00 WIB
TEMPO.CO, Jakarta - The Indonesian Chamber of Commerce and Trade (Kadin) chairman Rosan P. Roeslani views that the U.S. withdrawal from the Trans-Pacific Partnership (TPP) will significantly implicate other countries. “Particularly emerging markets, which include Indonesia,” Rosan said yesterday in Kadin meeting in South Jakarta.
According to Rosan, the U.S. withdrawal from the TPP has paved the way for Indonesia to develop trade relations with ASEAN country members.
“We do we have to focus on strengthening the ASEAN? Because [the potential of] free trade in ASEAN remains largely untapped, only about 20 percent. The trades with Vietnam, Malaysia make up only around 25-26 percent. Thus, let’s improve our trade relations with ASEAN member states as they will feel the Trump effect as well,” Rosan said.
As reported before, President-elect Donald Trump has decided to pull U.S. out of the TPP as promised during his presidential campaign.
Economist Chatib Basri said that Indonesia has a better growth rate at around 5 percent compared to other emerging markets. “Indonesia, boasting natural products, has the highest [growth rate] compared to Australia and Brazil,” he said.
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