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Reviving subregional cooperation, the IMT-GT: toward inclusive and sustainable development

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As policymakers from largest economies in the world are embracing protectionist and nationalist policies, developing countries must prepare for the impact that could make the world less resilient, more unequal, and more conflict prone. Subregional economic cooperation like IMT-GT can mitigate such impact. Growth Triangle has contributed to strengthening economic resilience in the region, through increasing competitiveness, connectivity and tourism.

In 2023, IMT-GT is commemorating 30 year of its establishment and during the 15th IMT-GT Summit in May 2023, the leaders envisioned IMT-GT to be an integrated, innovative, inclusive, and sustainable subregion by 2036. For Indonesia, this cooperation is important to help the Government in achieving inclusive and sustainable development, particularly in its territorial part of IMT-GT, Sumatera.

The challenge, however, is how IMT-GT can contribute to ensuring the economy will grow faster, more inclusive and sustainable in an era of uncertainty. There are still considerable administrative, technical, and regulatory barriers to intra-IMT-GT trade. This paper will review IMT-GT’s progress, what have been achieved and challenges ahead. It will elaborate how IMT- GT will achieve the Vision 2036 by applying the Moonshot and Backcasting method, in which member countries are committed to implement an action plan based on the IB 2022–2026 in five strategic stages.

This paper will provide policy choices and recommendations on how Indonesia can benefit from this subregional economic cooperation. Building connectivity is paramount to the success of this cooperation and Indonesia must lead in this collaboration as the biggest economy. Indonesia’s state enterprises (BUMN) have the modalities to drive growth in IMT- GT and transform this subregion from product export oriented into exporting services.

The IMT-GT might be considered as an outdated framework for a subregion economic cooperation. Nevertheless, its member countries are committed to enhance its role in strengthening ASEAN economy in the future. The Ministry of Foreign Affairs (MoFA) has a strategic role to ensure this cooperation can make progress by empowering its resources to be more actively involved and lead in policy coordination.

Keywords: IMT-GT, Development, subregional cooperation, connectivity, Underdeveloped Frontier Outermost Areas (3T), MDBs, PPP, BUMN go global.

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Ketersediaan

2023-0043

Sesparlu 73-2023

Training Materials Repository

Tersedia

Informasi Detail

Judul Seri

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No. Panggil

Sesparlu 73-2023

Penerbit

Jakarta : Kementerian Luar Negeri., 2023

Deskripsi Fisik

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Bahasa

English

ISBN/ISSN

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Klasifikasi

NONE

Tipe Isi

text

Tipe Media

computer

Tipe Pembawa

online resource

Edisi

-

Subjek

-

Info Detail Spesifik

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Pernyataan Tanggungjawab

UPT Sekolah Staf dan Pimpinan Luar Negeri

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