Indonesia Moves to Strengthen Trade and Investment Cooperation with Singapore and Malaysia
Jakarta, The Gulf Observer: Indonesian Deputy Minister of Trade Dyah Roro Esti has taken steps to enhance trade and investment cooperation with Singapore and Malaysia through a series of bilateral meetings with officials from the two neighboring countries.
In a statement received in Jakarta on Sunday, Esti said the discussions reaffirmed Indonesia’s commitment to promoting open and inclusive trade cooperation that supports regional economic growth.
“Through these bilateral meetings, Indonesia reaffirmed its commitment to strengthening trade cooperation that is open, inclusive, and oriented toward regional economic growth,” she said.
The meetings were held 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 steady growth in trade relations between Indonesia and Singapore. Bilateral trade between the two countries increased by 14.6 percent over the past five years, rising from US$16.85 billion in 2020 to US$19.32 billion in 2025.
Indonesia believes the partnership with Singapore still offers significant potential for expansion, particularly in diversifying Indonesian exports into products with higher added value.
At the meeting, Indonesia also reiterated its commitment to continuing the accession process for the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), viewing the agreement as a modern framework that can further strengthen economic integration across the Indo-Pacific region.
Both sides also exchanged views on several regional economic cooperation initiatives, including progress in negotiations on the ASEAN Digital Economy Framework Agreement (DEFA), the Regional Comprehensive Economic Partnership (RCEP), and other trade and investment initiatives.
Meanwhile, Esti’s meeting with Malaysia’s Deputy Minister of Investment, Trade and Industry Sim Tze Tzin focused on strengthening bilateral trade relations between Indonesia and Malaysia.
In 2025, total trade between the two countries reached US$24.22 billion, reflecting strong economic ties.
Indonesia sees considerable opportunities to expand market access and deepen cooperation in various high-value sectors, Esti noted.
The two officials also discussed efforts to enhance bilateral cooperation mechanisms, including plans to hold a Joint Trade and Investment Committee (JTIC) meeting and to strengthen investment ties through the Malaysia-Indonesia Investment Committee (MIIC).
In addition, the talks covered developments in border trade cooperation, particularly the implementation of the 2023 Border Trade Agreement (BTA) and initiatives to accelerate the normalization of cross-border trade at the Entikong–Tebedu border crossing.
“Indonesia and Malaysia share a strong trade relationship. We see many opportunities to expand our cooperation,” Deputy Minister Esti emphasized.
