Indonesia and Thailand Commit to Boosting Trade to USD 20 Billion by 2030
President Prabowo Subianto and Thai Prime Minister Anutin Charnvirakul have committed to boosting bilateral trade to USD 20 billion by 2030. The pledge was made during a bilateral meeting at the Presidential Palace in Jakarta, held as part of the Second Leaders’ Consultation.
“Economic cooperation remains the main pillar of our bilateral relations. We are optimistic that the USD 20 billion trade target by 2030 can be achieved through the implementation of the strategic partnership roadmap,” Prabowo stated after receiving Prime Minister Charnvirakul’s state visit at Merdeka Palace on Monday (3/8/2026).
During the visit, the two leaders adopted the Indonesia-Thailand Strategic Partnership Roadmap 2026-2030 to guide the strengthening of bilateral ties across various fields. The roadmap follows up on an agreement reached during a meeting on the sidelines of the ASEAN Summit in Cebu, Philippines, in May, and embodies commitments built through the Leaders’ Consultation mechanism since 2025.
In the economic sphere, both nations agreed to expand investment, improve market access, and foster closer partnerships between business communities. They will also establish a Joint Trade Commission, the first bilateral mechanism of its kind in Indonesia-Thailand relations, tasked with identifying business opportunities and addressing trade barriers.
“We also agreed to enhance cooperation in food security, covering agricultural technology, logistics, food processing, and supply chain resilience,” Prabowo added. In the energy sector, the two countries are pushing for the convening of an Indonesia-Thailand Energy Forum to bolster energy security and accelerate the transition to sustainable energy.
Through government and private sector collaboration, both nations are also committed to strengthening digital economy cooperation, including the use of Local Currency Transactions (LCT) to improve trade and investment efficiency. “With our respective strengths in the halal industry, Indonesia and Thailand can support each other in building regional and global halal industry value chains,” Prabowo continued.
Prime Minister Charnvirakul expressed optimism about the economic prospects, citing the combined market potential of approximately 350 million people. He emphasised the need to capitalise on this potential through easier trade and investment access and stronger private sector partnerships. “We agreed that Thailand and Indonesia have great potential to increase bilateral trade and investment volume,” the Prime Minister said.