Beijing (WNAM MONITORING): The relationship between Indonesia and China in the past decade has been mutually beneficial, according to Foreign Minister Retno Marsudi.
“In the last 10 years, we have worked together to build mutual respect, mutually beneficial cooperation and maintain sustainable relations,” she said at the 5th Joint Commission for Bilateral Cooperation (JCBC) meeting with her Chinese counterpart Wang Yi in Beijing on Friday.
China is considered one of the most important partners of Indonesia, with the cumulative value of investment flows from Beijing to Jakarta exceeding US$37 billion in the period from 2014 to 2024, Marsudi noted.
Although the term of the government led by President Joko Widodo will come to an end by October 2024, Marsudi assured that the relationship between Indonesia and China will be maintained.
“But rest assured that the next Indonesian government will continue to build strong relations with China, as conveyed directly by the President-elect (Prabowo Subianto) during his visit to Beijing several months ago,” she said.
During the meeting, Marsudi thanked Wang for his strategic role in strengthening relations between the two countries.
“So once again, thank you, and we can discuss what are the priority areas for our cooperation in the coming years. After this, I will report to my President and also convey the results of today’s meeting to the President-elect,” she said.
The 4th Indonesia-China JCBC was held in Jakarta on February 22, 2023. It was joined by Marsudi and Chinese Foreign Minister Qin Gang.
She said that one of the things conveyed at the 4th JCBC was a request for tackling various trade barriers.
Based on data from the Indonesia Investment Promotion Center (IIPC), China is Indonesia’s third-largest investment partner.
In 2023, Chinese investment in Indonesia was recorded at US$7.4 billion, and in the first quarter of 2024, the figure reached US$1.87 billion, plus investment from Hong Kong (US$1.89 billion).
One of the sectors targeted by Chinese investors in Indonesia is transportation, with the main project being the Jakarta-Bandung high-speed train, which records speeds of up to 350 kilometers per hour.
The flagship project has been largely funded by China with an investment of US$7.3 billion and has served more than four million passengers since it began operating on October 17, 2023.
In the trade sector, China is recorded as Indonesia’s largest trading partner.
Based on data from China Customs, the value of China-Indonesia trade in 2023 was recorded at US$139.41 billion. During the period, Indonesia’s exports to China were pegged at US$74.21 billion and imports were recorded at US$65.2 billion.
In the first quarter of 2024, the value of bilateral trade reached US$33.57 billion, with Indonesia’s exports to China reaching US$16.94 billion and imports US$16.61 billion.
Indonesian language studies are also offered at 25 universities across China. The latest push in that direction has been the establishment of the Indonesian Cultural House at Tianjin Foreign Studies University in collaboration with Brawijaya University.
