Jakarta, May 25, 2025 – The Europe Today: In a significant step to bolster bilateral economic ties, Indonesia and China signed four Memoranda of Understanding (MoUs) on Sunday at the Merdeka Palace in Jakarta. The signing ceremony was personally witnessed by Indonesian President Prabowo Subianto and Chinese Premier Li Qiang, underscoring the strategic importance of the agreements to both nations.
The first MoU, signed by Bank Indonesia Governor Perry Warjiyo and Governor of the People’s Bank of China Pan Gongsheng, lays the groundwork for enhanced bilateral transactions using local currencies. This agreement establishes a comprehensive framework for cooperation between the central banks, aiming to promote the use of the Indonesian rupiah and Chinese yuan in cross-border trade and investment.
The second MoU, between Indonesia’s National Energy Council (DEN) and China’s National Development and Reform Commission (NDRC), centers on collaboration in economic development policies. DEN Chairman Luhut Binsar Pandjaitan and NDRC Chairman Zheng Shanjie signed the agreement, which is expected to facilitate strategic dialogue and policy exchange in energy and broader economic planning.
In the third MoU, the Indonesian Coordinating Ministry for Economic Affairs and the Chinese Ministry of Commerce pledged closer cooperation in the industrial and supply chain sectors. The agreement, signed by Coordinating Minister Airlangga Hartarto and Chinese Commerce Minister Wang Wentao, reflects both countries’ shared ambition to deepen economic integration and enhance industrial competitiveness.
The fourth MoU marks a trilateral collaboration between the Indonesian Coordinating Ministry for Economic Affairs, the Chinese Ministry of Commerce, and the Fujian Provincial Government. It formalizes the “Two Countries, Twin Parks” program—a flagship initiative aimed at developing interconnected industrial zones in both nations. Minister Hartarto and Minister Wang were the signatories for this agreement as well.
In addition to the four key MoUs, Indonesia and China reaffirmed their growing partnership through eight supplementary cooperation agreements across diverse sectors:
- Tourism: A collaboration between Indonesia’s Ministry of Tourism and China’s Ministry of Culture and Tourism seeks to expand joint initiatives and enhance travel flows between the two nations.
- Agricultural Trade: Indonesia’s Quarantine Agency and China’s General Administration of Customs will work together to improve market access and the quality assurance of agricultural exports.
- Traditional Medicine and Public Health: The Indonesian Ministry of Health signed separate agreements with China’s National Administration of Traditional Chinese Medicine and the National Disease Control and Prevention Administration. These agreements focus on the integration of traditional medicine and the joint effort in tuberculosis prevention and control.
- Investment: Indonesia’s Investment Management Agency (BPI) Danantara and the China Investment Corporation formalized cooperation to facilitate mutual investments and capital flow.
- Business Engagement: The Indonesian Chamber of Commerce and Industry (KADIN) and the China Chamber of Commerce in Indonesia committed to strengthening business networks and facilitating private-sector partnerships.
- Media and Information Exchange: To promote mutual understanding and people-to-people ties, cooperation agreements were signed between ANTARA News Agency and China Media Group, as well as between ANTARA and the Xinhua News Agency.
These wide-ranging agreements reflect the deepening strategic partnership between Indonesia and China, rooted in mutual trust and a shared vision for economic resilience, regional stability, and cultural exchange.
