Deputy Trade Minister strengthens trade partnerships between Indonesia, Singapore and Malaysia
Jakarta — Indonesia’s Deputy Trade Minister Dyah Roro Esti has strengthened trade and investment cooperation between Indonesia, Singapore and Malaysia through bilateral meetings with both neighbouring countries.
“Through this series of bilateral meetings, Indonesia has reaffirmed its commitment to continuing to strengthen open, inclusive trade cooperation oriented towards regional economic growth,” Deputy Trade Minister Roro said in a statement received in Jakarta on Sunday.
The Deputy Trade Minister’s bilateral meetings with strategic partners took place alongside the 32nd ASEAN Economic Ministers (AEM) Retreat in Taguig, Philippines, on Friday, 13 March.
In the meeting with Singapore’s Deputy Prime Minister and Minister of Trade and Industry Gan Kim Yong, Deputy Minister Roro highlighted positive developments in bilateral trade relations between the two countries.
Indonesia-Singapore trade value increased 14.6 per cent over the past five years, rising from $16.85 billion in 2020 to $19.32 billion in 2025.
Indonesia views the trade partnership with Singapore as having considerable potential for further development, particularly in promoting diversification of Indonesia’s higher value-added export products.
“Indonesia-Singapore trade relations are showing very positive developments. Going forward, we see significant opportunities to expand cooperation, particularly in promoting Indonesian exports of higher value-added products,” said Deputy Minister Roro.
On the occasion, Indonesia also reaffirmed its commitment to continuing the accession process for the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Indonesia views CPTPP as a modern trade framework that can strengthen economic integration in the Indo-Pacific region.
“Indonesia is committed to continuing the CPTPP accession process as part of the national economic transformation agenda and to strengthen Indonesia’s integration into the rules-based global trading system,” she explained.
Additionally, both sides discussed several regional economic cooperation agendas, including developments in negotiations on the ASEAN Digital Economy Framework Agreement (DEFA), the Regional Comprehensive Economic Partnership (RCEP), and various trade and investment cooperation initiatives.
“Indonesia encourages various regional economic cooperation initiatives, including DEFA and RCEP, to be continually strengthened to support inclusive and sustainable regional economic growth,” said Roro Esti.
Meanwhile, in the meeting with Malaysia’s Deputy Minister of Investment, Trade, and Industry Sim Tze Tzin, Deputy Minister Roro also discussed efforts to strengthen bilateral Indonesia-Malaysia trade relations.
In 2025, total bilateral trade between the two countries reached $24.22 billion.
Indonesia sees substantial opportunities to expand market access and strengthen cooperation in various high value-added sectors between the two countries.
The meeting also discussed strengthening bilateral cooperation mechanisms, including plans for the Joint Trade and Investment Committee (JTIC) and enhanced investment cooperation through the Malaysia-Indonesia Investment Committee (MIIC).
Additionally, the two countries discussed developments in border region trade cooperation, including the implementation of the 2023 Border Trade Agreement (BTA) and efforts to accelerate cross-border trade normalisation at Entikong-Tebedu.
“Indonesia and Malaysia have strong trade relations. We see many opportunities to expand cooperation, including through increased high value-added trade and strengthened economic connectivity in the border region,” said Deputy Minister Roro Esti.