Indonesian President Prabowo Subianto met with Chinese Premier Li Qiang on Sunday to discuss expanding trade and investment during the US global trade war. The meeting comes as economic globalization faces headwinds, with unilateralism and protectionism on the rise.
Li emphasized the importance of seeking common ground and resolving differences through dialogue and peaceful coexistence. He also highlighted China’s Belt and Road Initiative and its plans to strengthen ties with Indonesia in five key areas: politics, economy, maritime affairs, security, and cultural exchanges.
The two leaders oversaw the signing of several agreements, including cooperation on bilateral transactions in local currencies, trade, investment, tourism, health, and agricultural exports. Li’s visit to Jakarta marked a significant milestone, bringing $21.7 billion in new Chinese investment.
Indonesia and China are member states of the Group of 20 major developing countries and emerging economies and BRICS. The two nations have a long history of cooperation, with Indonesia’s President Joko Widodo meeting Chinese President Xi Jinping in July 2023 to commit to $44.89 billion in investment.
Subianto expressed gratitude for China’s involvement in Indonesia’s economy, citing the significant role it has played in creating jobs, transferring technology, and building trust among businesses. He invited Chinese businesspeople to invest more in Indonesia, with two-way trade exceeding $147.8 billion last year, growing by 6.1%.
The meeting between Subianto and Li marks a renewed focus on strengthening ties between the two nations amidst the US trade war. China wants to strengthen its partnership with Indonesia through the Belt and Road Initiative, which has seen progress in projects such as nickel smelting plants and the commercial service of Southeast Asia’s first high-speed railway.
Source: https://apnews.com/article/indonesia-china-li-qiang-visit-51721a1c6f998faa979cfc83c7a5ce7b