Action Research Literate (ARL)
Vol. 8 No. 12 (2024): Action Research Literate

An Analysis of President Joko Widodo's Economic Diplomacy from 2014 to 2024: Results in Foreign Investment and Global Trade Volume

Setiawan, Asep (Unknown)



Article Info

Publish Date
28 Dec 2024

Abstract

This research aims to analyze the economic diplomacy strategies undertaken by President Joko Widodo’s administration from 2014 to 2024, focusing on their effectiveness in enhancing Indonesia’s trade volume, attracting foreign direct investment (FDI), and addressing global economic challenges. By examining key initiatives, this study explores the interplay between trade agreements, regulatory reforms, and international partnerships that shaped Indonesia’s economic trajectory. The theoretical framework of this research is rooted in the concept of economic diplomacy, which encompasses the use of economic policies as instruments of foreign policy to advance national interests. Economic diplomacy involves negotiating trade agreements, attracting FDI, and leveraging international partnerships to foster economic growth and geopolitical influence. This study employs qualitative research methods, analyzing secondary data from scholarly journals, government reports, trade and FDI statistics, and publications by international institutions such as the World Bank and the IMF. The findings indicate that President Joko Widodo’s economic diplomacy led to significant advancements in Indonesia’s economic standing. Between 2014 and 2022, Indonesia saw a notable increase in FDI attributed to regulatory reforms such as the Omnibus Law, which simplified business processes and reduced bureaucratic hurdles. Additionally, Indonesia’s active participation in multilateral agreements like the Regional Comprehensive Economic Partnership (RCEP) expanded trade opportunities. This paper contributes to the field of international economic diplomacy by providing a comprehensive analysis of Indonesia’s strategies under President Joko Widodo. It offers valuable insights for policymakers in Indonesia and other emerging economies, demonstrating how domestic reforms, international trade agreements, and strategic partnerships can bolster economic growth.

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Journal Info

Abbrev

arl

Publisher

Subject

Environmental Science Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Mathematics Social Sciences

Description

Action Research Literate is a scientific journal in the form of research and can be accessed openly. This journal is published biannual by Syntax Corporation Indonesia. Development of the company make the this Journal is transferred management to the Ridwan Institute which became the part of of ...