CIDISS. ASEAN economic ministers affirmed the commitment to promote and facilitate innovation and movement of e-commerce. This is done by signing an Electronic Commerce Development Agreement (ASEAN Agreement on E-Commerce).
The signing was carried out during the 33rd ASEAN Summit, in Singapore, Monday (11/12/2018). Trade Minister Engartiartio Lukita said that the agreement was the first to be carried out in the world signed in the context of the regional Free Trade Agreement (FTA) to facilitate and create an innovative environment for e-commerce development.
The provisions of this agreement regulate cross-border trade between ASEAN member countries, localize computerized facilities, and encourage countries in the ASEAN region to create electronic payment systems that are safe and integrated with each other.
Enggar added, this agreement would provide space for all ASEAN members to encourage economic growth based on e-commerce by implementing their respective national policies in line with this agreement.
He also believes that the positive impact will be significant for Indonesia. Because, at the same time, Indonesia is also pushing for the growth of business activities including the scale of micro, small and medium enterprises (MSMEs) such as pilot businesses. In accordance with the 2017-2019 Electronic Based National Trade System Roadmap, Indonesia targets to become the largest digital economy by 2020.
The ASEAN Economic Ministers reaffirmed ASEAN’s seriousness in improving the quality of economic integration through the ASEAN Economic Community (MEA) amid the current uncertainty in the world economy. Enggar hopes that Indonesian businesses can actively take advantage of business opportunities and investments in the country and in ASEAN member countries, both in the fields of goods, services and investment.
Meanwhile, the International Monetary Fund (IMF) projects Asian economic growth to reach 5.6 percent in 2018. As for 2019, the region’s economic growth is predicted to reach 5.4 percent. In the October 2018 edition of the Regional Economic Outlook Asia and Pacific report released at the IMF-World Bank 2018 Annual Meeting in Nusa Dua, Bali last week, the IMF called e-commerce as one of the engines of Asian economic growth. The IMF views that e-commerce has the potential to support economic growth.
Observing an agreement to promote and facilitate innovation and movement of e-commerce by signing an Electronic Commerce Development Agreement (ASEAN Agreement on E-Commerce), linked to International Monetary Fund data which states that e-commerce is one of the engines of Asian economic growth, this certainly an opportunity for e-commerce developers to develop their businesses that not only develop domestically, but also dare to expand abroad.
By: M. Irfandi )*
