Indonesia and Thailand Form Joint Trade Commission, Target US$20 Billion Trade

Indonesia and Thailand have agreed to form a Joint Trade Commission to pursue a bilateral trade target of US$20 billion by 2030. The commission is designed to unlock new business opportunities while reducing trade barriers between the two nations. The agreement was reached during a bilateral meeting between President Prabowo Subianto and Thai Prime Minister Anutin Charnvirakul at the Merdeka Palace in Jakarta on Monday, as part of a state visit and the second Indonesia-Thailand Leaders’ Consultation. The meeting also resulted in the adoption of the Indonesia-Thailand Strategic Partnership Roadmap 2026–2030, which serves as a joint guide to strengthen future bilateral cooperation. President Prabowo stated that economic cooperation remains a primary pillar of the relationship, expressing optimism that the US$20 billion trade target is realistic through the roadmap’s implementation. Bilateral trade has seen a recent decline, from US$18.2 billion in 2023 to an estimated US$16.8 billion in 2025, with Indonesia recording a deficit. Beyond trade, the two countries agreed to expand investment, improve market access, and strengthen partnerships in food security, including agricultural technology transfer and logistics. They also committed to enhancing cooperation in the digital economy and promoting the use of local currency transactions to increase efficiency and reduce reliance on third-party currencies. An Indonesia-Thailand Energy Forum will be established to bolster energy security and accelerate sustainable energy transition, while both nations will also collaborate on developing a robust halal industry value chain. To support these interactions, new direct flight routes connecting Jakarta–Bangkok and Denpasar–Phuket were welcomed. On security matters, President Prabowo thanked Thailand for facilitating the repatriation of nearly 1,000 Indonesian victims of online scams, and both leaders agreed to strengthen intelligence sharing, joint investigations, and law enforcement coordination to combat transnational crime.