Indonesian Foreign Minister Retno Marsudi emphasized Indonesia's commitment to attracting quality investments from China, particularly those adhering to Environmental, Social, and Governance (ESG) principles. This statement comes in the wake of a significant increase in bilateral trade and investment between Indonesia and China over the past decade. Speaking after her meeting with Chinese Foreign Minister Wang Yi at the Diaoyutai State Guesthouse in Beijing during the 5th Joint Commission for Bilateral Cooperation (JCBC), Marsudi highlighted the substantial rise in Chinese investment in Indonesia. According to the Indonesian Investment Coordinating Board (BKPM), Chinese investments in Indonesia reached USD 7.43 billion by 2024, nearly ten times the USD 800 million recorded in 2014.
Marsudi also revealed that the total bilateral investment could reach USD 55 billion, with Chinese investments in Indonesia estimated at USD 33 billion and Indonesian investments in China at USD 22 billion. Furthermore, she noted the significant growth in trade between the two nations. Chinese customs data indicates that total trade between Indonesia and China was valued at USD 63.66 billion in 2014, during which Indonesia faced a trade deficit of USD 14.48 billion. However, by 2023, Indonesia had reversed this trend, achieving a trade surplus for four consecutive years, with the total trade value reaching USD 139.26 billion and a surplus of nearly USD 9 billion in 2023. In addition to trade and investment, the bilateral discussions also covered cooperation in renewable energy, industrial downstreaming, and the development of an electric vehicle ecosystem.
