Kamis 19 Oct 2023 07:46 WIB

Indonesia-China to Strengthens Belt and Road Initiative

Indonesia-China Business Forum has produced a cooperation agreement of IDR 204 T.

President Joko Widodo holds a bilateral meeting with Chinese President Xi Jinping, at the Great Hall of the People, Beijing, on Tuesday (17/10/2023).
Foto: Dok Laily Rachev - Biro Pers Sek
President Joko Widodo holds a bilateral meeting with Chinese President Xi Jinping, at the Great Hall of the People, Beijing, on Tuesday (17/10/2023).

REPUBLIKA.CO.ID, JAKARTA -- During President Joko Widodo's visit to Beijing, China, the two countries agreed to increase cooperation on the Belt and Road Initiative (BRI) in the future. The cooperation is expected to benefit both countries, both economically, socially and politically.

During his visit, Jokowi also attended the opening of the 3rd Belt and Road Forum (BRF) on Wednesday (18/10/2023). In his speech, Jokowi appreciated the development of cooperation between Indonesia and China on BRI.

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In his opinion, in the midst of these uncertain global conditions, he hoped that such cooperation would not be politicized and should be based on the principle of equal and mutually beneficial partnership. The use of transparent funding systems, the absorption of local labor and the utilization of domestic products are important aspects in the sustainability of the BRI project.

“This cooperation must be ensured for the long term, in order to strengthen the economic foundations of partner countries. Not to complicate the fiscal situation,” Jokowi said.

Minister of State-Owned Enterprises (SOEs) Erick Thohir said the Indonesia-China Business Forum had produced a cooperation agreement worth IDR 204 trillion. Erick even said that there is still potential for cooperation of up to IDR 455 trillion with China.

According to him, the Belt and Road Initiative Forum between Indonesia and China is a positive forum. “Investment growth from China to Indonesia from 2013, more or less stood at 280 million US dollars but now it has reached 8.6 billion US dollars. It means this is significant,” he explained.

Coordinating Minister for Economic Affairs Airlangga Hartarto said Chinese investment in Indonesia continues to increase every year. The investment has encouraged the development of industries and special economic areas in the Motherland.

According to him, China's investment in Indonesia in the first half of 2023 has passed 3.8 billion US dollars.

Therefore, he said that this BRI cooperation will continue to promote the development of industries and economic areas, especially in the regions of North Sumatra, North Kalimantan, Sulawesi, and Bali.

“This cooperation is needed by Indonesia, especially related to industrial development, technology development, innovation and human resource development,” he said.

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