Indonesia, China agree to expand trade beyond $167 billion

Indonesia and China agreed to expand bilateral trade beyond the current US$167 billion threshold after their inaugural Comprehensive Strategic Dialogue in Jakarta on Friday. Indonesian Foreign Minister Sugiono said the existing figure does not reflect the full economic potential of the two countries.

Sponsored

Speaking after meeting Chinese Foreign Minister Wang Yi, Sugiono said both sides intend to continue enhancing cooperation in the trade sector to increase the volume and value of bilateral commerce. He said the two countries also want to revitalize strategic platforms covering energy, minerals and maritime trade.

The dialogue produced preliminary discussions for a 2027, 2031 Action Plan and opened the way for new cooperative mechanisms in artificial intelligence, advanced technology and quarantine standards. Future technical initiatives are expected to include joint development of communication satellites and expanded financial cooperation through local currency transactions, while both sides reaffirmed support for Belt and Road Initiative projects, including the Jakarta, Bandung High-Speed Railway.

#Sugiono #WangYi #Jakarta #BandungHighSpeedRailway #BeltandRoadInitiative

Image Credit: 360LiveNews

Sponsored