Indonesia, China agree to boost trade beyond US$167 billion threshold

Jakarta [Indonesia], August 22: Indonesia and China agreed to expand bilateral trade beyond its current volume of US$167 billion, citing untapped economic potential between the two nations following their inaugural Comprehensive Strategic Dialogue (CSD) in Jakarta, Friday.
Speaking following a meeting with his Chinese counterpart Wang Yi, Indonesian Foreign Minister Sugiono emphasised that both countries intend to deepen commercial ties and revitalise strategic platforms spanning energy, minerals, and maritime trade.
"Because this figure does not encompass all the potential of both countries, we also agree to continue enhancing cooperation in the trade sector to increase the volume and figures," Sugiono said as quoted by Indonesian news agency (ANTARA).
The talks established preliminary discussions for the 2027-2031 Action Plan while opening avenues for new collaborative mechanisms in artificial intelligence, advanced technology, and quarantine standards.
Future technical initiatives are expected to include the joint development of communication satellites and expanded financial cooperation through local currency transactions.
The two strategic partners also reaffirmed their commitment to financing ongoing Belt and Road Initiative projects-most notably the Jakarta-Bandung High-Speed Railway-alongside strategies to boost passenger capacity.
To support industrial resilience, bilateral cooperation will prioritize food security, critical minerals, and strategic infrastructure under the administration of Indonesian President Prabowo Subianto.
Beyond economic initiatives, the dialogue addressed broader defense and diplomatic goals.
Source: Emirates News Agency