Indonesia has officially applied to become a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to boost its export growth, according to a report by state news agency Antara.
Indonesia’s Coordinating Minister for Economic Affairs Airlangga Hartarto stated that his ministry has handed over the application letter to New Zealand as the depositary of the CPTPP.
“Currently, the steps that Indonesia takes, especially completing Indonesia’s OECD accession process, are aimed at driving structural reform in the country and opening markets for Indonesia’s economy,” he noted in a press conference in Jakarta last week.
Indonesia’s membership in the CPTPP is expected to open new markets in various countries, and in this case, Hartarto is targeting the Latin American market, such as Mexico and Peru.
The CPTPP currently comprises 11 countries: Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.
In addition to Indonesia, seven countries, including China and Costa Rica, have proposed to become CPTPP members.
Source: Antara