October 29, 2021

Widodo: Asean-Korea ties in the green economy have a lot of potentials.

According to Indonesian President Joko Widodo, the Association of Southeast Asian Nations (ASEAN) and the Republic of Korea should make use of the huge potential for cooperation to drive green and digital economies for the benefit of the global community.

“This alliance, in my opinion, should focus on the future economy, notably the digital and sustainable green economies.” “The digital economy and green economy sectors have enormous promise,” he stated on Tuesday while participating in the 22nd ASEAN-Republic of Korea Summit electronically from the Bogor Presidential Palace in West Java.

According to him, Asean’s digital economy potential is expected to reach US$200 billion by 2025, while Southeast Asia’s green economy chances would reach US$1 billion by 2030.

“On the other hand, until 2025, the Korean Deal initiative, which covers (the) digital and green economy, is valued at US$144 billion. By 2030, the digital market potential in Korea is expected to reach US$236 billion, contributing 13% to the country’s GDP,” he noted.

Widodo then urged ASEAN countries and the Republic of Korea to focus on creating a favorable policy environment for the development of a green and digital economy, as well as establishing a good ecosystem, expanding investment and supporting technology transfer, research, and development in the two sectors.

Infrastructure and green industry, clean energy, new renewable energy, energy efficiency, electric automobiles, economic digitization, including micro, small and medium businesses (MSMEs), and health services are all projected to benefit from the ASEAN-Korea alliance, he said.

“This collaboration will demonstrate how decarbonization and economic development can coexist.” The win-win paradigm is not a zero-sum game, according to Widodo.

“The digital and green economy relationship between Asean and Korea may not only expedite economic recovery but also ensure the sustainability of our world for future generations,” he added.

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