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Indonesia must join TPP trade deal or risk being 'left behind': trade minister
[JAKARTA] Indonesia must join the Trans-Pacific Partnership trade deal or risk being overtaken by neighbours such as Vietnam, the trade minister said on Tuesday.
"We don't have a choice," Trade Minister Tom Lembong said at a press conference on Tuesday, noting that Vietnam had joined the TPP and recently formed another trade deal with Europe.
"We have already heard many Indonesian factories that have closed and moved to Vietnam." The deal offers trade tariff discounts of 10-14 per cent to members.
During a US visit, Indonesian President Joko Widodo said last month that South-east Asia's largest economy plans to join the TOP deal that the United States has already signed with 11 other countries.