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Write an essay consisting of 3 paragraph.
Elaborate your own opinion with the references related to
the situation given. Export and import are two things that are interrelated. Please explain your thoughts on the export and import policy in Indonesia. You can also add the examples to support your ideas. Answer : Export and import policies play a pivotal role in shaping the economic landscape of a country, and Indonesia is no exception to this rule. As a Southeast Asian nation with a rich and diverse array of natural resources, Indonesia's export and import policies are of paramount importance in determining its economic growth and international trade relationships. In this essay, I will elaborate on my perspective regarding Indonesia's export and import policy, drawing on key examples and references to provide a comprehensive understanding of the subject. Indonesia's export policy has traditionally revolved around the exportation of commodities such as palm oil, coal, natural gas, and rubber. While these commodities have been the backbone of the Indonesian economy, they also come with environmental and social challenges, including deforestation and environmental degradation. In recent years, there has been a growing global demand for sustainable and environmentally responsible products. Indonesia should adapt its export policy to align with these global trends, promoting eco-friendly practices and diversifying its export portfolio to include value-added goods and services. On the import side, Indonesia has been working to reduce its trade deficit by imposing tariffs and non- tariff barriers. While protecting domestic industries is essential, it's equally important to balance these measures with an openness to foreign goods that can bring innovation and competitiveness. The country could take lessons from its Asian neighbors like Singapore and Malaysia, which have managed to strike a balance between safeguarding domestic industries and embracing international trade, resulting in economic growth and development. One recent example of Indonesia's evolving approach to export and import policies is the comprehensive Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA). This trade agreement opens up new opportunities for both countries by reducing barriers and tariffs, fostering economic cooperation, and promoting sustainable development. Such agreements are crucial in enhancing international trade relationships and fostering economic growth. In conclusion, Indonesia's export and import policies are critical drivers of its economic development. To thrive in a rapidly changing global economy, Indonesia should adapt its export strategy to focus on sustainability and diversification, while also carefully balancing its import policies to protect domestic industries without stifling innovation. Collaborative trade agreements, like IA-CEPA, provide a pathway to achieving these goals and fostering mutually beneficial relationships with other nations. By adopting a forward-looking approach to export and import policies, Indonesia can ensure long- term economic prosperity and contribute positively to the global trading community. Sources and references : BMP ADBI4201, And in my own opinion and article.