Indonesia and Germany agree to boost trade and investment volume

Jakarta - Indonesian President Prabowo Subianto and President of the Federal Republic of Germany Frank-Walter Steinmeier discussed strengthening the partnership between the two countries in a number of sectors and agreed to increase the volume of trade and investment. “At today’s meeting, we discussed strengthening the Indonesia-Germany partnership, particularly in the fields of economy, investment, energy transition, energy security, education, and employment. We agreed to continue increasing the volume of mutually beneficial trade and investment,” said President Prabowo Subianto in a statement to reporters following a bilateral meeting at Merdeka Palace, Jakarta, on Monday. Regarding the enhancement of cooperation, the President also stressed the importance of relations between Indonesia and Europe, expressing hope that the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA) can reach a substantive conclusion. “We hope Germany will continue to play an active role in the process of finalising internal agreements in Europe, so that it can soon provide concrete benefits for the business communities in both countries,” he said. President Prabowo also invited President Steinmeier to expand investment in various important sectors in Indonesia, such as energy transition, downstream industry, and transportation amid efforts to increase the use of electric vehicles. Indonesia also invited German investors to support the development of the semiconductor industry, enter the critical minerals and rare earth supply chain sector, as well as the infrastructure sector. The development of employment sector cooperation was also discussed, which could expand opportunities for Indonesian workers not only in the nursing field but also in the technology sector. “With that, new investments are possible and it also provides opportunities for small and medium-sized enterprises from Germany to open a path for them to invest in Indonesia, as well as increased economic growth and closer cooperation between German and Indonesian companies in the field of innovation,” said President Steinmeier. He specifically highlighted that a number of German companies are already present in the Indonesian domestic market, demonstrating that the Indonesian market is not only attractive but also a viable investment location. Concluding his statement, he expressed gratitude for the opportunity to exchange ideas with President Prabowo and to continue doing so during the remainder of his visit to Indonesia.