South Korean President Moon Jae-in and North Korean leader North Korea have shaken hands to kick off their historic summit.

JAKARTA (TheInsiderStories) — Even though United States (US) President Donald Trump and North Korea leader Kim Jong Un failed to reach an outcome, Pentagon confirmed that both parties had agreed to end joint large scale spring military exercises in Korean Peninsula.

Previously, in the Trump-Kim’ meeting should have declared an end of Korean war which also made America placed its troops in South Korea. Now without any declaration, US and South Korea agreed to reduce the tension in Korean Peninsula.

Pentagon said: “The two made clear that the Alliance decision to adapt our training program reflected our desire to reduce tension and support our diplomatic efforts to achieve complete denuclearization of the Korean Peninsula in a final, fully verified manner.”

South Korea’ military also confirming plans to end the spring joint military exercises. Special Representative for Korean Peninsula Peace and Security Affairs Lee Do-Hoon is planning to visit US in the coming week. He’ going to meet US officials to discuss another US-North Korea summit as well as the future agenda.

Meanwhile, Trump reiterated his stance over North Korea, while mentioning that relationship with the country seemed to be very, very strong. According to him, North Korea doesn’t have any economic future with nuclear weapons.

In the country, Indonesian e-commerce transactions keep increasing from time to time. The central bank is now assessing regulations related to digital economy development. Not only for product sales, but also for banking to compete with non-banking industry, said Senior Deputy Governor of Bank Indonesia (BI) Mirza Adityaswara last week.

He noted, monthly e-commerce transactions value come in a range of Rp11 trillion (US$785.71 million) to Rp13 trillion. Adityaswara estimated that the transaction be reach Rp140 trillion in this year.

Seeing the potency, real transaction through e-commerce can grow to 150 percent annually, the central bank hopes that micro and small medium enterprises production can be boosted to be exported online. But they need to develop cross border payment and other systems.

While, Regional Comprehensive Economic Partnership (RCEP) country members is expected to finish their negotiations in 2019. Trade Minister from 16 RCEP country members held a meeting in Siem Reap, Cambodia, following the last summit in November 2018.

The meeting is considered important to determine the country members’ commitment to solve all issues in the negotiation, technically and politically. Especially, several countries such as Indonesia, Thailand, India, and Australia are facing election year.

Besides discussing 2019’s working plan and program, the Trade Ministers also talked about market access development, agreement draft, and guidelines to solve the negotiations.

RCEP involves 10 ASEAN countries and its 6 free-trade agreement (FTA) partners such as Australia, India, Japan, South Korea, China, and New Zealand. Next RCEP Trade Ministers meeting will be held in August 2019, after the 27th Round Discussion in Beijing.

Ahead of this week, Indonesia will announce February’ consumer survey report and foreign exchange reserve data. From abroad, US will release non farm payrolls report, ISM survey on service sector activity. Federal Reserves’ chairma Jerome Powell speaks is also something to watched.

In Asia, Japan will release its Gross Domestic Product. Then, China is going to release February’ trade balance figure which was impacted the trade war with the US.

US$1: Rp14,000

May you have a profitable week!

Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information About Indonesia

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The Insider Stories Founder Linda Silaen has a solid, proven history, established over more than a decade as a journalist with a leading internasional news organization, of being the first with the biggest economic news stories in Indonesia. Specializing in corporate news, Linda is also a veteran of some of the biggest macroeconomic and general news stories as Indonesia rapidly transforms into a major market economy. One of the founders of the original blog from which this company developed, Linda’s knowledge of investors’ information communications and data us developed from unrivaled networking skills that make her a well-known name among CEOs, bankers, government officials and private equity investors both in Indonesia and other countries.

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