ISSN (Online): 2321-3418
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Economics and Management
Open Access

Regional Trade Partnerships and ASEAN Economic Growth: Implications for Indonesia

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DOI: 10.18535/ijsrm/v12i08.em07· Pages: 7050-7057· Vol. 12, No. 08, (2024)· Published: August 6, 2024
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Abstract

National development is a multifaceted endeavor aimed at improving the prosperity and well-being of a country's population. A critical aspect of this process involves establishing and nurturing cooperative relationships with other nations. Indonesia, recognizing the importance of international trade cooperation, actively engages in economic partnerships, particularly within the ASEAN region. This strategy is integral not only to Indonesia's economic development and addressing domestic needs but also to contributing to the economic welfare of other nations, particularly in the agricultural sector. This study employs a qualitative research method, gathering data from existing literature relevant to the topic. A descriptive and inductive approach to data analysis was used to distill the information into coherent and meaningful insights. The study reveals a significant interdependence between Indonesia's economy and the global economy. The research highlights that events affecting the global economy would influence Indonesia's economic conditions. This interconnectedness means that fluctuations in global economic health—whether due to changes in natural resources, inflation, or other factors—have direct repercussions on Indonesia. The findings suggest that enhancing international trade relations, particularly in the ASEAN region, is crucial for Indonesia's economic development. This approach not only supports domestic economic objectives but also fulfills the needs of other nations, fostering a mutually beneficial economic environment.

Keywords

ASEANeconomic growthregional tradeIndonesia

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Author details
Dina Anisya Rufaedah
Master Program in Sharia Economics, Postgraduate Studies, UIN Sunan Ampel Surabaya,
✉ Corresponding Author
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Nur Kholis
Department of Management, UIN Sunan Ampel Surabaya
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Mugiyati Mugiyati
Department of Sharia Economics, UIN Sunan Ampel Surabaya,
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Husnama Patih
Department of Sharia Economics, STAI Senori Tuban,
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