Indonesia, Australia seal deal for broader economic cooperation

The Indonesian and Australian governments have signed the Australia-Indonesia Partnership for Economic Development (Prospera) Exchange of Letters, which will be effective until 2026.
An official from the Coordinating Ministry for Economic Affairs, Edi Prio Pambudi (R), and Australian Deputy Secretary for Southeast Asia and Global Partners Group Department of Foreign Affairs and Trade (DFAT), Michelle Chan, signed the Australia-Indonesia Partnership for Economic Development (Prospera) Exchange of Letters. (Source: ANTARA/HO-KemenkoEkonomi/pri/FR)
An official from the Coordinating Ministry for Economic Affairs, Edi Prio Pambudi (R), and Australian Deputy Secretary for Southeast Asia and Global Partners Group Department of Foreign Affairs and Trade (DFAT), Michelle Chan, signed the Australia-Indonesia Partnership for Economic Development (Prospera) Exchange of Letters. (Source: ANTARA/HO-KemenkoEkonomi/pri/FR)

As reported by the local news agency Antara, the pact was signed by an official from the Indonesian Coordinating Ministry for Economic Affairs, Edi Prio Pambudi, and Australian Deputy Secretary for Southeast Asia and Global Partners Group, Department of Foreign Affairs and Trade (DFAT), Michelle Chan.

Prospera is a cooperation programme between Indonesia and Australia that aims to encourage strong and sustainable economic growth. It brings together Indonesian and international experts to support Indonesian economic policy priorities. These include taxation administration, health system reformation, recovery from COVID-19 impact, digital acceleration, inclusive policies for the disabled, as well as climate and energy.

In addition to expert provision and routine consultation, the two countries can also exchange experience on reformation of their policies through Prospera, Pambudi said in a statement.

Beyond short-term challenges, such as post-pandemic economic recovery, Indonesia has a very large economic opportunity in the future, and the programme can help support policy makers to utilise it, Chan said.

Prospera has partnered with around 30 institutions in Indonesia. They include the Coordinating Ministry for Economic Affairs, the Finance Ministry, Statistics Indonesia, the Audit Board of Indonesia, and the State Apparatus Utilization and Bureaucratic Reform Ministry.

VNA