Trade cooperation between Indonesia and Singapore once again demonstrated strengthening through a bilateral meeting in Singapore focused on empowering MSMEs, particularly those owned by women, and developing a green economy. This meeting was a continuation of previous high-level communications, aimed at strengthening strategic synergies in trade, investment, and sustainable development. Trade data shows that Singapore has consistently ranked among Indonesia's top five trading partners over the past five years and is also one of the largest sources of foreign direct investment in the country. Bilateral trade between the two countries reached USD 33.7 billion, with Indonesian exports contributing USD 12.2 billion and imports worth USD 21.5 billion. In addition to key commodities such as oil and gold, both countries believe the MSME sector has significant potential for development within this partnership.
MSMEs in Indonesia currently contribute approximately 60% to the national Gross Domestic Product (GDP), with more than 64% of these owned by women. As a concrete step, Singapore has developed a training center focused on digitalization, the application of artificial intelligence, and strengthening business networks. The plan to establish a women's MSME network between the two countries is also part of a joint initiative to expand opportunities and strengthen competitiveness in the region. Furthermore, business matching programs are ongoing to open up new partnership opportunities for business actors. The Indonesian government has expressed its commitment to expanding the role of MSMEs in the global supply chain and promoting green economic growth. This support is reinforced by the existence of trade networks in 33 countries, including Singapore, which actively facilitate exports. Going forward, both countries also consider the importance of holding the Annual Ministerial Dialogue as a strategic forum to strengthen inter-ministerial communication, resolve technical trade issues, and accelerate the export-import process.
Source:
https://linkumkm.id/news/detail/16608/ri-dan-singapura-perkuat-kerja-sama-dagang-soroti-umkm-p erempuan-dan-ekonomi-hijau
