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Indonesia-China trade-investment partnership

Indonesia, China to strengthen trade, investment cooperation

Indonesian Foreign Minister Retno Marsudi (right) shakes hands with her Chinese counterpart, Qin Gang, at Gedung Pancasila, Indonesian Ministry of Foreign Affairs, Jakarta, on Wednesday (February 22, 2023). (ANTARA/Shofi Ayudiana)

Jakarta (ANTARA) – Indonesia and China have agreed to strengthen bilateral trade and investment cooperation as part of an effort to build a community with a shared future.

Speaking at a press conference after attending the 4th meeting of  the Indonesia-China Joint Commission for Bilateral Cooperation (JCBC) with Chinese Foreign Minister Qin Gang in Jakarta on Wednesday, Indonesian Foreign Minister Retno Marsudi said that strengthening trade cooperation with Beijing is important because China is Indonesia’s largest trading partner.

“In the meeting, I specifically delivered a request that various trade barriers be overcome,” she added.

Marsudi emphasized that Indonesia is also committed to strengthening investment cooperation with China given that Beijing was the second-largest source of foreign investment for Indonesia last year and even emerged as the largest investor in the fourth quarter of 2022, she informed.

The minister also expressed Indonesia’s eagerness to deepen cooperation in health infrastructure, environmental protection, as well as to strengthen the quality of green investment.

Meanwhile, the Chinese Foreign Minister said that China is willing to enlarge the imports of commodities and quality agricultural products from Indonesia.

“China and Indonesia will continue our partnership to jointly address the risks and global challenges in politics, economy, humanities, and maritime affairs…to seek solidarity and cooperation,” he added.

Both sides will continue to work together for greater synergy between the Belt and Road Initiative (BRI) and the ASEAN Outlook on the Indo-Pacific (AOIP) to build a peaceful, safe, secure, prosperous, beautiful, and amicable home in the region, he said.

In November 2022, Indonesia and China formulated a “Plan of Action for Strengthening the Comprehensive Strategic Partnership between the Republic of Indonesia and the People’s Republic of China (2022–2026)” to provide integrated plans and road maps for exchanges and cooperation between the two countries in all areas in the next five years.

The heads of state of China and Indonesia have also agreed to strengthen strategic coordination and make a plan for concrete cooperation in various fields and bring the Indonesia-China High-level Dialogue and Cooperation Mechanism (HDCM) and other existing bilateral mechanisms into full play.

They have also agreed to consolidate the new synergy through a four-pillar cooperation covering politics, economy, people-to-people exchanges, and maritime projects, as well as strengthen strategic coordination in regional and multilateral affairs. 

Source: antara news