Indonesia’s Finance Minister expressed strong optimism about the growing economic relationship between Indonesia and Malaysia, highlighting that the value of bilateral trade has reached USD 23 billion in 2024. This milestone deepened cooperation between the two neighboring countries, not only in trade but also in investment and tourism. Malaysia has remained one of Indonesia’s largest foreign investors, contributing around USD 4.2 billion last year. Meanwhile, people-to-people exchanges have also strengthened, with over 1.7 million tourist visits recorded between the two nations.
The partnership is now expanding beyond traditional sectors. Both governments are enhancing collaboration in Islamic finance, aiming to position themselves as global hubs for sharia-based financial services. They are also working toward cross-border payment integration, including the use of QR payment systems, and promoting joint initiatives between export financing institutions (Eximbanks). In addition, the two countries are exploring opportunities through the ASEAN Infrastructure Fund (AIF) to finance sustainable and green development projects. Minister Purbaya noted that the warm personal relations between the leaders of Indonesia and Malaysia—reflected in frequent high-level meetings—have played a key role in strengthening mutual trust and ensuring that economic cooperation continues to flourish.
