BI Confident QRIS-JPQOR Integration to Boost Indonesia-Japan Trade

Deputy Governor of Bank Indonesia (BI), Filianingsih Hendarta is confident that trade transactions between Japan and Indonesia will be boosted following the integration of Indonesia’s QRIS payment system with Japan’s JPQOR (Japanese QR standard) since 17 August 2025.

She stated that bilateral trade value reached JPY 224 trillion in 2025. Therefore, the integration of QRIS with JPQOR enables direct merchant transactions and smoothes digital cross-border transactions.

“Using Local Currency Transaction (LCT) can minimise exchange rate volatility risks and streamline business costs,” Filianingsih said in a statement on Tuesday, 26 May 2026.

Similarly, Deputy Chief of Mission at the Indonesian Embassy in Tokyo, Maria Renata Hutagalung said ease of transactions is a crucial lubricant for economic relations between the two countries.

She also highlighted strengthened financial cooperation through the LCT framework, which aligns with Indonesia’s strong economic fundamentals.

“The adoption of this system has grown significantly, positioning Japan as Indonesia’s second-largest LCT partner,” she added.

JETRO Executive Vice President Kenichi Hirano affirmed that Japan views Indonesia as one of the most vital economic partners in Southeast Asia, thanks to its large market potential and consistent economic growth.

“With a diversifying investment landscape and increasingly mature regulatory support, capital flows from Japan to Indonesia are projected to surge in the coming years,” he said.

These statements were made during the Indonesia-Japan Investment Forum (IJIF) 2026. The forum not only served as a platform for presentations but also successfully generated tangible business commitments.

Japanese investors’ confidence was evident through Letters of Intent (LoI) announced by prominent companies, including Pongamia Co., Ltd and Onoda Inc. Pongamia has committed to investing in the renewable energy sector through the development of Pongamia plantations in Indonesia. The project is projected to produce biodiesel and biojet fuel, in line with the country’s green energy transition roadmap.

Meanwhile, Onoda Inc. is targeting the manufacturing sector by planning to assemble ultrasonic gas meter equipment from Japan. This investment aims to support the government’s programme to expand the national household gas network.