Indonesia Seeks Formal Membership in Trans-Pacific Trade Pact, Reports Reuters

Indonesia Seeks to Join Trans-Pacific Trade Pact

JAKARTA – Indonesia has officially requested to join the Trans-Pacific trade agreement to expand its export markets, as announced by its chief economic minister on Wednesday, according to the state news agency Antara.

The Indonesian government has submitted a letter to New Zealand, which serves as the depositary for the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), according to Airlangga Hartarto, the coordinating minister for economic affairs.

"This decision is part of our efforts to structurally reform our economy and enhance market access for Indonesia," Airlangga stated.

In May, Jakarta expressed its intent to join the free trade agreement, which currently includes 12 member countries, with hopes of attracting investment by increasing access to export markets.

CPTPP members include Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United Kingdom, and Vietnam.

Airlangga noted that Indonesia’s President-elect Prabowo Subianto has backed the request. Prabowo is set to succeed outgoing President Joko Widodo on October 20.