Jakarta, CNBC Indonesia – Trade relations between Indonesia and China are getting closer. This is characterized by the rapid growth of trade activities between the two countries. In fact, its value has reached US$ 130 billion or around Rp. 2,041 trillion.

BUMN Minister Erick Thohir said that the Indonesia-China cooperative relationship continues to grow and develop. Trade between Indonesia and China has reached more than US$ 130 billion.

“This is a source of sustainable economic growth for both countries to ensure that people’s welfare continues to be improved and improved,” said Erick in his speech at a series of events at The Third Belt and Road Forum for International Cooperation, Beijing China, quoted Wednesday (19/10/2023 ).

Not only trade, Chinese investment in Indonesia is also getting stronger. Evidently, at the Indonesia-China Business Forum, Erick said China’s investment commitment reached US$ 12.6 billion or Rp. 197.8 trillion (exchange rate Rp. 15,700/US$). Consisting of the energy sector to health technology.

“This collaboration worth USD 12.6 billion is between private-private, BUMN-private and BUMN-BUMN companies. This is to strengthen the development of the electric battery industry, green energy and health technology in the country, so that it can increase job opportunities, ” he explained.

In a meeting between President Joko Widodo or Jokowi and Chinese President Xi Jinping, Jokowi conveyed efforts to increase investment cooperation, especially for EV and automotive batteries, spare parts factories, petrochemical refineries, steel production, and the development of Halal Center cooperation. The President also encouraged follow-up cooperation in developing the ‘Two Countries, Twin Parks’ economic corridor.

“For the development of the Indonesian Capital City, I hope that China can become a strategic partner,” said Jokowi, quoting an official statement, quoted Thursday (19/10/2023).

Regarding trade, Jokowi said that the two countries need to encourage protocol updates and increase import quotas for swallow’s nests and additional types of exports such as fisheries, agriculture and tropical fruit.

Regarding financial cooperation, Jokowi also expressed his support for the plan to establish local currency transactions via QR cross border to facilitate export-import and investment.

Then on energy security, Jokowi said that currently Indonesia is accelerating the addition of new renewable energy (EBT) generators of 60 GW until 2040. He hopes for China’s support to implement Indonesia-China collaborative electricity cooperation.

Jokowi also encouraged an increase in tourists from both countries. Such as increasing the frequency of direct flights between Indonesia and China, as well as increasing scholarships and vocational training for Indonesian students.

“As well as implementing village cooperation through increasing the capacity of Indonesian village heads,” he said.

[Gambas:Video CNBC]

(haa/haa)