Indonesia, Australia discuss Indo-Pacific supply chain

- Thursday, 25/05/2023, 09:48

Indonesia’s Coordinating Minister for Economic Affairs Airlangga Hartarto on May 23 held online talks with Australian Minister for Trade and Tourism Don Farrell to discuss the supply chain in the Indo-Pacific nations.

Indonesia, Australia discuss Indo-Pacific supply chain -0
Source: ITN

The issue is currently being concerned by 14 countries in the negotiation of the Indo-Pacific Economic Framework for Prosperity (IPEF) to ensure a secure and resilient supply chain as well as minimise the risk of disruption and impact on countries in the region.

According to Hartarto, IPEF partner countries are expected to commit to achieving the collective goal of the supply chain that is resilient, anticipatory, enduring, and quick to recover from challenges and competition in the Indo-Pacific.

Supply chain-related discussion encompasses the establishment of critical goods and sector criteria, resiliency and investment improvement toward critical goods and sectors, and establishment of information sharing and crisis response mechanism, he said, adding that it also involves strengthening supply chain logistics, improving workers' role, and ensuring greater supply chain transparency.

At the meeting, the two ministers underlined the importance of cooperation for economic prosperity and stability in the region as well as advancement achieved throughout the negotiating round for IPEF.

Farrell highlighted that the advancement in every negotiation discussion is of utmost importance, so discussion on various pending issues should be conducted immediately.

Meanwhile, Hartarto said partner negotiating parties should refer to international agreements and narrow existing differences by considering the domestic interests of partner countries.

The two ministers also discussed the negotiation agenda of the second IPEF Ministerial Level Meeting, that is scheduled to take place on May 26-27 in Detroit, Michigan, the US.