Strengthening Indonesia-China Relations: A Commitment to Mutual Benefits and Cooperation
In recent remarks at the 5th Joint Commission for Bilateral Cooperation (JCBC) meeting held in Beijing, Indonesian Foreign Minister Retno Marsudi emphasized the mutually beneficial nature of Indonesia-China relations over the past decade. She noted the importance of fostering mutual respect and sustainable cooperation, underlining that China has emerged as one of Indonesia’s most significant partners. The cumulative investment from China to Indonesia is expected to surpass US$37 billion between 2014 and 2024.
With the current administration under President Joko Widodo set to conclude by October 2024, Minister Marsudi assured that the upcoming government would uphold the strong ties with China, echoing statements made by President-elect Prabowo Subianto during his previous visit to Beijing. In her address, she expressed gratitude to Chinese Foreign Minister Wang Yi for his pivotal role in strengthening bilateral relations, highlighting the importance of prioritizing areas of cooperation for the years ahead.
The previous JCBC meeting took place in Jakarta on February 22, 2023, where discussions were held regarding the alleviation of trade barriers. According to the Indonesia Investment Promotion Center (IIPC), China ranks as Indonesia’s third-largest investment partner. In 2023, Chinese investments in Indonesia amounted to US$7.4 billion, with an additional US$1.87 billion recorded in the first quarter of 2024, alongside investments from Hong Kong totaling US$1.89 billion.
One prominent project facilitated by Chinese investment is the Jakarta-Bandung high-speed train, which reaches speeds of 350 kilometers per hour. This flagship initiative, funded largely by China with an investment of US$7.3 billion, has already transported over four million passengers since its commencement on October 17, 2023.
In terms of trade, China holds the status of Indonesia’s largest trading partner. According to data from China Customs, the trade volume between both nations reached an impressive US$139.41 billion in 2023, with Indonesia’s exports totaling US$74.21 billion and imports amounting to US$65.2 billion. As of the first quarter of 2024, the bilateral trade value further soared to US$33.57 billion.
Additionally, cultural exchange plays a critical role in the relationship, with Indonesian language studies offered at 25 universities across China. Notably, the establishment of the Indonesian Cultural House at Tianjin Foreign Studies University in partnership with Brawijaya University marks a significant step in fostering cultural ties between the two nations.
In summary, the ongoing partnership between Indonesia and China is characterized by substantial investment, robust trade, and an emphasis on cultural exchange, reflecting a deep commitment to maintaining strong ties into the future.
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