Recently, on September 25, Airlangga Hartarto, the Coordinating Minister for Economic Affairs of Indonesia, stated that Indonesia has officially submitted an application to New Zealand to join the Comprehensive and Progressive Agreement for Trans - Pacific Partnership (CPTPP). This move aims to expand Indonesias access to the international market, promote domestic structural reforms, and enhance the countrys economic competitiveness.

The Comprehensive and Progressive Agreement for Trans - Pacific Partnership was signed in March 2018 by 11 countries in the Asia - Pacific region. Its members include Japan, Canada, Australia, New Zealand, Mexico, Singapore, Vietnam, Malaysia, Brunei, Chile, and Peru. The agreement aims to strengthen the mutually beneficial ties among member states, promote trade liberalization, investment facilitation, and economic integration in the Asia - Pacific region, and boost regional economic growth and prosperity.

As the largest economy in Southeast Asia, Indonesia has been actively seeking to participate in regional and global trade agreements. Joining the CPTPP will bring multiple benefits to Indonesia. Firstly, the CPTPP covers high - standard trade rules, including tariff reduction, elimination of non - tariff barriers, protection of intellectual property rights, and promotion of service trade. Indonesias accession will help expand its export market and enhance the international competitiveness of its goods and services.

Secondly, joining the CPTPP will provide an opportunity for Indonesia to attract more foreign direct investment. The investment protection provisions and transparent trade environment in the agreement will enhance investors confidence in the Indonesian market, promote capital inflows, and drive domestic industrial upgrading and technological innovation.

In addition, the CPTPP also has clear regulations in areas such as labor, environment, and e - commerce, which will help Indonesia promote domestic structural reforms, improve its governance level, and meet the requirements of sustainable development. This will enhance Indonesias position in the global value chain and promote the diversified development of its economy.

As the official depositary of the CPTPP, New Zealand is responsible for managing the administrative and procedural work of the agreement, including receiving and tracking official documents. After Indonesia submitted the application to New Zealand, New Zealand will handle the relevant procedures on behalf of the member states and initiate the consultation and evaluation procedures among the member states.

Notably, CPTPP welcomed its first non-founding member in 2023. The UK announced in March, 2023 that it had been approved to join CPTPP, becoming the first European country to join the agreement. The UKs accession demonstrates CPTPPs openness and appeal, enhancing its influence in global trade.

Indonesias application also reflects the importance attached to high - standard trade agreements in the Asia - Pacific region. With the changes in the global trade situation, countries are seeking multilateral and regional cooperation to cope with the challenges of trade protectionism and unilateralism. As one of the worlds most comprehensive and high - level free trade agreements, the CPTPP provides a broad cooperation platform for member states.

However, Indonesias accession also faces certain challenges. The high - standard requirements of the CPTPP may put pressure on some of Indonesias industries and policies, requiring corresponding adjustments and reforms. For example, tariff reduction and market opening may impact local enterprises, and the government needs to formulate supporting measures to help enterprises adapt to the new environment. In addition, regulations on intellectual property protection, labor rights and interests, and environmental standards may require Indonesia to improve relevant laws and regulations.

To this end, the Indonesian government needs to communicate fully with various stakeholders, assess the pros and cons of joining the CPTPP, and formulate practical response strategies. At the same time, it should increase publicity and training for the public and enterprises to enhance their understanding of the agreement and ensure the maximization of national interests in the process of integrating into the global economy.

Overall, Indonesias application to join the CPTPP is an important measure for it to deepen its opening - up and integrate into regional economic integration. This will provide new opportunities for Indonesia to expand its international market, attract investment, and promote domestic reforms. In the future, with the accession of more countries, the CPTPP is expected to play a greater role in the global trade system and promote economic cooperation and development in the Asia - Pacific region and even globally.