Prabowo Pushes QRIS as ASEAN Payment Standard, Can It Rival the Dollar?

Bisnis | Ekonomi - Posted on 29 May 2025 Reading time 5 minutes

illustrasi

Coordinating Minister for Economic Affairs, Airlangga Hartarto, stated that President Prabowo Subianto has placed special emphasis on the development of a dedicated payment system to be used among Southeast Asian countries. This initiative was actively promoted by Prabowo during the ASEAN Summit plenary session held in Malaysia.

 

Airlangga noted that the plenary session highlighted the current underperformance of intra-ASEAN trade. Despite the region's sizable population of 600 million and a combined economic capacity of US$ 4.2 trillion, all member states agreed on the necessity to deepen regional trade ties.

 

"At present, intra-ASEAN trade remains relatively low. While tariff barriers have been largely eliminated under the ASEAN Free Trade Area, non-tariff barriers—such as customs and excise regulations—still need to be improved," Airlangga explained in a media briefing at the Grand Hyatt Hotel in Kuala Lumpur on Monday, May 26, 2025.

 

To address this, Indonesia is advocating for a regional payment system that would be accessible to all ASEAN nations, in an effort to boost inter-country trade.

 

"The President underlined the importance of advancing cross-border QR payment systems among ASEAN countries. This is a priority that we are continuously promoting," said Airlangga.

 

Additionally, the ASEAN leaders' forum also discussed measures to reinforce supply chains and promote technology exchange across nations.

 

"The forum also emphasized the adoption of sustainability reporting and the sharing of business inventories, so that ASEAN countries can be informed of one another’s industrial landscape," Airlangga concluded.

Source: detik.com

What do you think about this topic? Tell us what you think. Don't forget to follow Digivestasi's Instagram, TikTok, Youtube accounts to keep you updated with the latest information about economics, finance, digital technology and digital asset investment.

 

DISCLAIMER

All information contained on our website is summarized from reliable sources and published in good faith and for the purpose of providing general information only. Any action taken by readers on information from this site is their own responsibility.