China and Indonesia Sign $10 Billion Agreement, Expanding Cooperation in Energy, Technology, and Trade
China and Indonesia have secured trade and investment deals worth $10 billion, covering diverse sectors such as renewable energy, technology, biotechnology, and food. These agreements were finalized during the Indonesia-China Business Forum in Beijing, which follows a meeting between Chinese President Xi Jinping and Indonesian President Prabowo Subianto, who is on his inaugural foreign visit since assuming office.
Indonesia Prioritizes Stronger Ties with China in Key Sectors
President Prabowo’s choice to visit China first as Indonesia’s new leader highlights Jakarta’s commitment to reinforcing strategic ties with Beijing. In a joint statement following their meeting, both nations outlined plans to expand cooperation in new energy, including electric vehicles, lithium batteries, and photovoltaics. Both countries also agreed to work together to strengthen global energy security and stabilize supply chains for essential minerals and industrial resources.
Prabowo expressed optimism about the impact of this partnership, stating that increased cooperation would help improve stability in the Asia-Pacific region. “In this era, collaboration rather than confrontation paves the way to peace and prosperity,” he said, emphasizing Indonesia’s openness to Chinese investors.
Significant New Deals in Energy and Technology
Among the high-profile agreements, Chinese battery materials giant GEM signed a contract with PT Vale Indonesia to develop a high-pressure acid leaching plant in Central Sulawesi, which will enhance nickel production—a crucial component for battery manufacturing. Indonesia, the world’s largest nickel producer, has a booming industry led primarily by Chinese firms such as Tsingshan Holding Group and Zhejiang Huayou Cobalt.
In technology, Indonesian tech giant GoTo Gojek Tokopedia partnered with China’s Tencent and Alibaba to boost Indonesia’s cloud infrastructure and digital workforce, marking a significant step toward expanding Indonesia’s digital economy.
Enhanced Travel and Trade Opportunities
To support growing business and tourism exchanges, China and Indonesia agreed to introduce multi-entry long-term visas and expand direct flights, according to their joint statement. Additionally, Indonesia secured agreements to increase exports of products like fresh coconuts to China, along with other cooperative projects in housing and infrastructure.
Strengthened Partnership for Mutual Economic Growth
The $10 billion in agreements solidifies China and Indonesia’s commitment to a mutually beneficial partnership, focusing on sustainable energy, technological advancement, and economic integration. This collaboration underscores a shared vision for stability, prosperity, and innovation in the region.
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