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Towards strengthening Indonesia-Namibia economic relations into a higher stage

This paper discusses current Indonesia-Namibia bilateral economic relations and exploring for opportunities and the way forward in elevating this current relationship into a higher level. The study shows that the respective foreign policy agendas of these two nations coincide with their common interests. One of these common interests is to enhance economic relations through economic diplomacy with the ultimate aim of promoting national economic development in both countries. Based on the product competitiveness mapping analysis, the study concludes that there are potential opportunities to strengthen bilateral trade relations due to the complementarity of both countries' export products. The study also reveals that, on average, Indonesian export products are more competitive than Namibian products. However, the competitiveness of the two countries' respective export products remains low. Further, the partial equilibrium free trade simulation employed shows that both countries would potentially benefit from bilateral FTA arrangements. This is based on assumed higher trade volumes and consumer surpluses, which would offset predicted tariff revenue loss.

The paper recommends pursuing bilateral free trade cooperation between Indonesia and Namibia by establishing the RI-SACU PTA to improve bilateral trade relations. The challenges and opportunities to enhance RI-Namibia economic relations are discussed using the scenario planning and policy choices including the recommended short-term and long- term strategies to elevate the bilateral economic relations. Based on the future scenario planning and trends, the best scenario from the case is Scenario 3 in which both countries should pursue RI-SACU PTA as both parties would be better-off based on the predicted economic potential benefits. Apart from trade, Indonesia should promote outbound investment and technical cooperation in Namibia to support the BUMN Go Global Program, to address the economic diversification concerns, and as well further enhance the Indonesian positive image in Namibia, and strengthening South-South Cooperation. The Indonesian outbound investment and technical cooperation are another potential win-win economic cooperation for both countries. Furthermore, people to people contacts should also be encouraged, and last but not least, greater south-south cooperation must be fostered and shown real political desire to elevate the economic partnership to a higher level is needed.

Ketersediaan
2023-0083Sesparlu 72-2023Training Materials RepositoryTersedia
Informasi Detail
Judul Seri
-
No. Panggil
Sesparlu 72-2023
Penerbit
Jakarta : Kementerian Luar Negeri.,
Deskripsi Fisik
Digital File
Bahasa
English
ISBN/ISSN
-
Klasifikasi
NONE
Tipe Isi
text
Tipe Media
computer
Tipe Pembawa
online resource
Edisi
-
Subjek
-
Info Detail Spesifik
-
Pernyataan Tanggungjawab
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