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This is a suggestion from Kadin so that Indonesia can benefit from RCEP

ILLUSTRATION. President Joko Widodo (center) attends the 3rd Regional Comprehensive Economic Partnership (RCEP) Summit in Bangkok, Thailand, Monday (4/11/2019). The summit was attended by ASEAN countries and six partner countries, namely China, Japan, India, South Korea, and Austra

Reporter: Abdul Basith | Editor: Noverius Laoli

KONTAN.CO.ID – JAKARTA. The government is obliged to encourage industrial development so that Indonesia can benefit from the Regional Comprehensive Economic Cooperation (RCEP).

For that, Indonesian industry must be more competitive. Thus, Indonesian products are more competitive to enter the market which consists of 16 countries.

Also Read: The Indonesian government hopes India will continue to be included in the RCEP

“Fortunately, our market is broader and bigger, but we will lose if our products are not competitive,” said Deputy Chairman of the Chamber of Commerce and Industry (Kadin) for trade, Benny Soetrisno, when contacted by Kontan.co.id, Tuesday (5/11).

RCEP members consist of 10 countries that are members of ASEAN. In addition, six trading partner countries were added, namely China, India, Australia, New Zealand, Japan and Korea.

Benny explained, RCEP has a higher rating than the free trade agreement (FTA). Because RCEP is not only about trade in goods, but also trade in services and investment.

Also Read: 15 countries agreed to complete RCEP 2020, India’s fate is not yet clear

Under the RCEP agreement, Indonesia also has the opportunity to be part of the global value addition chain (global value chain). However, Benny said that Indonesia’s industry must be competitive.

“Fix additional energy, labor and logistics costs cost of fund, “explained Benny.

Benny also requested that all trade agreements be evaluated periodically. This was done while continuing to develop trade agreements with other countries.

Also Read: Billionaire Ray Dalio success tips from the founder of the world’s largest hedge fund

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