Indonesia's Coordinating Minister for Economic Affairs recently held bilateral talks in Shanghai with China's Minister of Commerce, focusing on advancing the implementation of the China-Indonesia 'Two Countries, Twin Parks' (TCTP) cooperation, upgrading bilateral economic and trade relations, and expanding cooperation in new energy and regional economic development. The talks aimed to accelerate the transformation of framework agreements into tangible investment outcomes. The meeting prioritized the implementation of 30 signed Memorandums of Understanding (MoUs) between China and Indonesia, with a total investment scale of 37.1 trillion rupiah. As a core strategic platform connecting industrial parks, local governments, and enterprises of both countries, the Twin Park mechanism serves as an important vehicle for deepening bilateral investment and industrial collaboration. Indonesian officials explicitly called for accelerating the implementation of agreements, preventing cooperation from remaining on paper, and ensuring all signed projects translate into real investment that brings tangible economic benefits to both countries.
To accelerate project implementation, the Indonesian government is actively promoting the establishment of joint ventures between companies from both countries, using market-based cooperation models to strengthen project operations and make the Twin Park cooperation generate more concrete and sustainable economic value. Meeting data shows a solid foundation for China-Indonesia economic and trade cooperation, with bilateral trade volume reaching US$154.6 billion and China's actual investment in Indonesia approaching US$8.1 billion (equivalent to 146.8 trillion rupiah), indicating a large scale of cooperation. On this basis, Indonesia proposed directions for upgrading future economic and trade cooperation: no longer merely pursuing growth in trade and investment scale, but focusing on improving cooperation quality, promoting more balanced bilateral trade, attracting high-quality investment, and simultaneously advancing technology transfer, local talent cultivation, and the upgrading of Indonesia's industrial system to comprehensively enhance Indonesia's core industrial competitiveness.
During the meeting, Indonesia officially introduced the state-owned investment management institution Danantara as a high-quality strategic partner for China, using this platform to precisely channel high-quality Chinese industries and capital. At the same time, Indonesia extended a major cooperation invitation to Chinese enterprises, welcoming Chinese participation in Indonesia's 100 GW solar power plant new energy project to support the implementation of Indonesia's national energy transition strategy. Furthermore, Indonesia sought China's support for its proposal to establish an RCEP regional secretariat, hoping that through the establishment of the secretariat, the enforcement of regional trade agreements can be strengthened and Indonesia's core position in Southeast Asian regional economic cooperation can be enhanced. The two sides also concurrently discussed preparations for the 2026 APEC Economic and Trade Forum, planning to further expand space for bilateral trade, investment, and industrial cooperation, and continuously deepen the comprehensive China-Indonesia economic and trade partnership.
