Indonesia bolsters trade partnerships with Singapore and Malaysia
“Through these bilateral meetings, Indonesia reaffirmed its commitment to strengthening trade cooperation that is open, inclusive, and oriented toward regional economic growth,” she said in a statement received in Jakarta on Sunday.
The meetings took place on the sidelines of the 32nd ASEAN Economic Ministers (AEM) Retreat in Taguig, Philippines, on Friday (March 13).
During her meeting with Singapore’s Deputy Prime Minister and Minister of Trade and Industry Gan Kim Yong, Esti highlighted the positive growth in the two countries’ trade relationship.
Indonesia-Singapore trade value increased by 14.6 percent over the last five years, rising from US$16.85 billion in 2020 to US$19.32 billion in 2025.
Indonesia views the partnership with Singapore as having significant room for growth, particularly in diversifying Indonesian export products into those with higher added value.
At the meeting, Indonesia also reaffirmed its commitment to continuing the accession process for the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Indonesia views the agreement as a modern cooperation framework that can bolster economic integration in the Indo-Pacific.
In addition, both parties discussed several regional economic cooperation agendas, including the progress of negotiations for the ASEAN Digital Economy Framework Agreement (DEFA), the Regional Comprehensive Economic Partnership (RCEP), and various trade and investment initiatives.
Meanwhile, her meeting with Malaysia’s Deputy Minister of Investment, Trade, and Industry, Sim Tze Tzin, discussed efforts to bolster bilateral trade ties between Indonesia and Malaysia.
In 2025, the two countries’ trade reached US$24.22 billion in total.
Indonesia sees significant opportunities to expand market access and increase cooperation across various high-value sectors.
The meeting also touched on strengthening bilateral cooperation mechanisms, including plans to hold a Joint Trade and Investment Committee (JTIC) meeting and enhancing investment ties through the Malaysia-Indonesia Investment Committee (MIIC).
Furthermore, the two deputy ministers discussed developments in border trade cooperation, including the implementation of the 2023 Border Trade Agreement (BTA) and efforts to accelerate the normalization of cross-border trade at the Entikong-Tebedu crossing.
“Indonesia and Malaysia share a strong trade relationship. We see many opportunities to expand our cooperation,” Deputy Minister Esti asserted.
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Translator: Kelik Dewanto, Raka Adji