Indonesia has officially applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), to expand its export markets and attract more investment. On Wednesday, Indonesia’s national news agency, Antara, reported on the important decision, citing the country’s main economic minister, Airlangga Hartarto.
According to Hartarto, Indonesia addressed a formal letter to New Zealand, the CPTPP’s depositary. The letter underlines Jakarta’s desire to join the agreement that connects 12 member countries. “This decision is part of our efforts to structurally reform Indonesia’s economy and expand market access globally,” Hartarto informed the crowd.
Indonesia has already shown interest in joining the CPTPP in May, seeing it as a strategic opportunity to spur investment and expand market penetration. Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United Kingdom, and Vietnam are currently members of the trade agreement.
Airlangga further stated that Indonesia’s President-elect, Prabowo Subianto, is fully supportive of the effort. Prabowo will succeed the current president, Joko Widodo, in October. The CPTPP was initially signed in March 2018 and went into force later that year. The United Kingdom requested entry to the accord in 2021 and joined in 2023.
