Good potential for ASEAN-Korea partnership in green economy: President Jokowi

Jakarta, Oct 26 (Antara) - ASEAN and the Republic of Korea need to take advantage of the great potential for partnerships to push green and digital economy for the welfare of the global community, Indonesian President Joko Widodo (Jokowi) has said. “I have a view that this partnership should focus on the future economy, namely digital and sustainable green economy. The potential of the digital economy and green economy sector is huge," he said while joining the 22nd ASEAN-Republic of Korea Summit virtually from the Bogor Presidential Palace, West Java, on Tuesday. ASEAN's digital economy potential is estimated to reach US$200 billion by 2025, while the green economy opportunities in the Southeast Asia region will reach US$1 billion in 2030, he noted. "On the other hand, the Korean Deal project, which includes digital and green economy, is worth US$144 billion until 2025. The digital market potential in Korea is estimated to reach US$236 billion by 2030 and contribute 13 percent to the gross domestic product," the President said. He then invited ASEAN countries and the Republic of Korea to focus on supporting a conducive environment for policy-making for the development of a green and digital economy, establishing a good ecosystem, expanding investment, and supporting technology transfer, research and development in the two sectors. The ASEAN-Korea partnership is expected to further strengthen concrete cooperation in a number of fields, namely infrastructure and green industry, clean energy, new renewable energy, energy efficiency, electric cars, economic digitization, including MSMEs (micro, small, and medium enterprises), and health services, he said. "This collaboration will show that decarbonization actions can go hand in hand with economic development. The win-win paradigm is not zero-sum," Widodo remarked. "ASEAN and Korea's partnership in the digital and green economy can not only accelerate economic recovery but also maintain the sustainability of our planet for future generations," he added.