Jakarta. Chief Economic Affairs Minister Airlangga Hartarto is set to discuss the ratification process of the Indo-Pacific Economic Framework (IPEF) during his meeting with US Secretary of Commerce, Gina Raimondo, at the Fullerton Hotel in Singapore on Wednesday.

"The meeting will address follow-up actions concerning the supply chain pillar, including the ratification process in each IPEF member country," said Susiwijono Moegiarso, Secretary of the Coordinating Ministry for Economic Affairs, in a written statement on Wednesday.

Airlangga will participate in the Indo-Pacific Economic Framework (IPEF) ministerial meeting, the IPEF Clean Economy Investor Forum (CEIF), and The 6th Bilateral Economic Working Groups (EWG) Ministerial Meeting in Singapore from Wednesday until Saturday.

The US-led IPEF aims to foster cooperation across four pillars: trade, supply chains, clean economy, and fair economy. Besides the US, member countries include Indonesia, Australia, Brunei, Fiji, India, Japan, South Korea, Malaysia, and New Zealand, among others. The Philippines, Singapore, Thailand, and Vietnam are also part of the IPEF.

The IPEF ministerial meeting, taking place from June 5 to June 8, primarily focuses on follow-up actions concerning the pillars, except the trade pillar. Alongside the IPEF ministerial meeting, several bilateral meetings are arranged with ministers from various IPEF member countries.

Last year, the IPEF signed the proposed agreement on supply chain resilience, aiming to enhance cooperation among member countries to protect against supply chain disruptions and bolster investment opportunities within the bloc’s supply chains.

Moreover, agreements have been reached on the clean and fair economy sections, set to be signed in Singapore. However, negotiations on the trade pillar are ongoing, with only 5 out of 11 clusters of the agreement completed. 

Unlike traditional trade agreements that assure market access to its members, the IPEF emphasizes aspects such as workers’ protection, agriculture, and enhancing transparency in rulemaking, among other factors. Indonesia targets concluding negotiations on the trade-pillar pact by the end of 2024.

Additionally, Airlangga is scheduled to hold bilateral meetings and sign a Memorandum of Understanding (MoU) related to the implementation of Article Six of the Paris Agreement on cooperative approaches to climate action with the Minister of Trade of South Korea. He also plans bilateral meetings with the State Minister of Japan, Tsuji Kiyoto.

During the IPEF ministerial meeting series, Airlangga is set to meet with Singaporean President Tharman Shanmugaratnam, Prime Minister Lawrence Wong, and Deputy Prime Minister Gan Kim Yong.

Amidst these events, Airlangga will participate as a panelist in the Sustainable Infrastructure Dialogue at the Clean Economy Investor Forum (CEIF), presenting Indonesia's policies on sustainable infrastructure development.

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