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ASEAN-Indo-Pacific Forum Produces Project Cooperation with Partner Countries worth USD 56 Billion

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Jakarta – The Indonesian Chairmanship held the 43rd ASEAN Summit in Jakarta, bringing various benefits, both for Indonesia and for countries in the ASEAN region and partner countries. One of them is cooperation with ASEAN partner countries in the Pacific region which resulted in cooperation with a contract value of USD 56 billion from 166 projects.

This cooperation was established in the ASEAN-Indo-Pacific Forum (AIPF) at the Mulia Hotel, Jakarta. This flagship event was organized by Indonesia as part of the ASEAN Chair in 2023 on Tuesday (5/9). The AIPF opening ceremony was attended by ASEAN Leaders. In his opening speech, Indonesian President Joko Widodo announced a list of concrete projects between ASEAN member countries and partner countries.

The President of the Republic of Indonesia said that AIPF aims to build connectivity, open opportunities, and encourage mutually beneficial collaboration between ASEAN and Indo-Pacific countries.

“AIPF is based on a forward-looking spirit of cooperation, to lay
a strong foundation for future economic growth. “Amidst the weakening
global economy, the ASEAN economy remains resilient, even exceeding the global growth average,” stressed the President.

AIPF encourages the realization of ASEAN as the ‘Epicentrum of Growth’. As home to
some of the fastest growing economies in the world, ASEAN’s strategic location
in the heart of the Indo-Pacific places ASEAN as a major player in economic growth and development in the region.

The activity then continued with a panel attended by the President of the World Bank, Managing Director of
the IMF, Chairman of the World Economic Forum, and President of ERIA. This panel was moderated by Chatib Basri, Indonesian Minister of Finance 2013-2014. Panelists discussed how ASEAN has managed to outperform other regions in recent years, how to maintain its economic growth, and how ASEAN must anticipate
future challenges.

“ASEAN contributes 10% of global growth, which is double ASEAN’s share in
the global economy – to maintain this growth, ASEAN needs
macroeconomic and financial stability. “We must also jointly look for ways in which
ASEAN can become resilient in a world that is vulnerable to shocks, by thinking about the unthinkable.” explained Kristalina Georgieva, Managing Director of the IMF.

The second panel consisted of Standard Chartered CSO, Thales Group CEO, Microsoft Asia President, Masdar COO, Bank Rakyat Indonesia (BRI) CEO, and moderated by the Chair of the UK-ASEAN Business Council. The panelists discussed the three AIPF sub-themes and the concrete projects they are currently working on in ASEAN countries. BRI discussed sustainable financing for MSMEs, while Standard Chartered discussed an innovative project structure in exploring new industries. Thales and Microsoft present their projects related to sustainable cutting-edge technology, and

Meanwhile, Masdar discussed EBT projects, including floating solar panels in Cirata, Cianjur, which are the largest floating solar panels in the region. More than 2,500 people registered to attend the forum, mostly from the private sector, ranging from global CEOs to experts in their respective fields. The 2-day forum includes a series of engaging sessions, featuring leaders’ talks, plenary discussions, project showcases and business matchmaking opportunities.

The ASEAN Leaders have agreed to include references to the AIPF as well as a list of concrete projects as part of the ASEAN Leaders Declaration and the historic ASEAN Concord IV. President Joko Widodo closed his speech by explaining that AIPF represents ASEAN’s commitment to making the Indo-Pacific a peaceful, stable and prosperous region.

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