Indonesia Seeks Membership in CPTPP, Eyes Economic Growth
Indonesia has formally applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a move welcomed by Canada, one of the member countries.
“As the Chair of CPTPP 2024, I am very pleased that Indonesia has applied to join this trade agreement,” said Mary Ng, Canada’s Minister of Export Promotion, International Trade, and Economic Development during a Canada Trade Mission (TCTM) event in Indonesia at Hotel Mulia, Senayan, Central Jakarta on Monday, December 2, 2024. “We are confident that Indonesia is a good candidate, but the final decision rests with all CPTPP member countries,” she added.
This application follows Indonesia’s ambition to become a member of the OECD, with CPTPP membership seen as a crucial step towards achieving this goal.
“Moreover, the incoming government, led by President-elect Prabowo Subianto, has instructed us to immediately initiate the accession process,” said Airlangga Hartarto, Indonesia’s former Coordinating Minister for Economic Affairs, in September 2024. Indonesia officially submitted its CPTPP membership application, with New Zealand acting as the depositary country.
Airlangga believes that Indonesia’s accession to the CPTPP will encourage the government to enact high-standard policies, leading to increased imports, exports, and overall trade with CPTPP member countries.
“We aim to achieve at least a 10 percent increase in exports as a result of this membership,” he concluded.
The CPTPP is an agreement open to countries that meet specific standards and partnership criteria established by consensus among its member countries. Partners within the CPTPP have responded positively to Indonesia’s intent to join. This agreement is expected to stimulate domestic economic reforms in Indonesia and open up new markets, particularly in Latin American countries.
What are the potential risks or challenges Indonesia may face as a member of the CPTPP? [[1](https://www.bilaterals.org/?indonesia-to-apply-for-cptpp)]
## Will Indonesia’s CPTPP Membership Boost its Economy, or is it a Risky Gamble?
With Indonesia’s formal application to join the CPTPP receiving warm welcomes from countries like Canada, the question arises: is this a prudent move for the Southeast Asian giant, or is it a gamble with potentially unforeseen consequences? Share your thoughts on the potential benefits and challenges Indonesia may face as a member of this influential trading bloc.