Indonesia Overcome Lagging
Indonesia's delay in ratifying the Regional Comprehensive Economic Partnership will have an impact on the delay in the implementation of the partnership.
In fact, Indonesia can get many benefits from the implementation of RCEP. RCEP is a free trade agreement involving 10 Southeast Asian countries and five partner countries, namely China, Japan, South Korea, New Zealand, and Australia. The 15 countries, including Indonesia, signed the RCEP agreement on November 15, 2020. With a market share of 2.2 billion people and a combined gross domestic product (GDP) of 26.2 trillion US dollars or almost a third of the world's total GDP, RCEP has the potential to become a Andry Satrio, Head of the Center of Industry, Trade, and Investment Institute for Development of Economics and Finance (INDEF) in the world, said Indonesia needed to immediately participate in implementing RCEP to ensure the involvement of domestic industries in the value chain in the region. Andry hopes that Indonesia will be able to catch up because it is one of the few countries that have not ratified the RCEP. As a trade agreement that is more modern than a free trade agreement (FTA), there are many advantages that Indonesia can take advantage of.
|•SOURCE•| Articles :Kompas ID | Image :Journals of India |
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