Indonesia's Coordinating Minister for Economic Affairs Airlangga Hartarto held an online meeting with Australian Minister for Trade and Tourism Don Farrell on May 23. (Photo: ANTARA)Jakarta (VNA) – Indonesia’sCoordinating Minister for Economic Affairs Airlangga Hartarto on May 23 held online talks with Australian Minister for Trade and Tourism Don Farrell todiscuss the supply chain in the Indo-Pacific nations.
The issue is currentlybeing concerned by 14 countries in the negotiation of theIndo-Pacific Economic Framework for Prosperity (IPEF) to ensure a secure andresilient supply chain as well as minimise the risk of disruption and impact oncountries in the region.
According to Hartarto,IPEF partner countries are expected to commit to achieving the collective goalof the supply chain that is resilient, anticipatory, enduring, and quick to recoverfrom challenges and competition in the Indo-Pacific.
Supply chain-related discussion encompasses theestablishment of critical goods and sector criteria, resiliency and investmentimprovement toward critical goods and sectors, and establishment of informationsharing and crisis response mechanism, he said, adding that it also involves strengthening supply chain logistics,improving workers' role, and ensuring greater supply chain transparency.
At the meeting, the two ministers underlined theimportance of cooperation for economic prosperity and stability in the regionas well as advancement achieved throughout the negotiating round for IPEF.
Farrell highlighted thatthe advancement in every negotiation discussion is of utmost importance, sodiscussion on various pending issues should be conducted immediately.
Meanwhile, Hartarto said partner negotiating parties should refer to international agreements and narrowexisting differences by considering the domestic interests of partner countries.
The two ministers alsodiscussed the negotiation agenda of the second IPEF Ministerial Level Meeting, that is scheduled to take place on May 26-27 in Detroit, Michigan, the US./.
