Indonesia, Japan discuss investment, industrial cooperation

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Additionally, Indonesia’s Purchasing Managers’ Index (PMI) has been at an expansive level for nine consecutive months.

Jakarta (ANTARA) – Indonesian Minister of Industry Agus Gumiwang Kartasasmita met on Wednesday with Japanese Minister of State for Economy, Trade and Industry (METI) Ken’ichi Hosoda, concluding a series of visits to Japan to discuss industrial investment and cooperation.

The meeting followed Japanese Prime Minister Fumio Kishida’s visit to Indonesia in April 2022.

“This meeting aims to continue discussions between Indonesia and Japan on trade, industry, infrastructure, marine and fisheries, energy, as well as environmental issues,” the Indonesian minister said in Tokyo. .

Indonesia’s economic growth prospects are quite strong, as the World Bank has estimated that its economy is expected to grow by around 5.1% and 5.3% in 2022 and 2023, respectively.

Meanwhile, the International Monetary Fund (IMF) has predicted that the Indonesian economy will grow by 5.4% in 2022 and 6% in 2023.

In fact, Indonesia’s economic growth in the first quarter of 2022 reached 5%, Kartasasmita noted.

“Additionally, Indonesia’s Purchasing Managers Index (PMI) has been at an expansive level for nine consecutive months. This shows that Indonesia is one of the countries with the fastest economic acceleration ASEAN,” he said.

It is therefore hoped that Indonesia’s rapid economic recovery will support the development of investment by Japanese industrial enterprises.

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The Indonesian minister also praised Japan’s initiative on automotive industry cooperation, as it supports Indonesia’s policy of developing the electric vehicle ecosystem, which is in line with Japan’s decarbonization policy.

“We hope the cooperation can increase investment in the automotive industry sector and strengthen Indonesia’s position as an ASEAN automotive production base for global export,” he said. he adds.

Meanwhile, the Japanese state minister praised the Indonesian government for its cooperation and support, saying the collaboration between Indonesia and Japan has so far benefited both sides and should therefore be improved. .

The meeting also discussed the continuation of negotiations on the Protocol of Amendment to the Indonesia-Japan Economic Partnership Agreement (IJEPA).

Hosoda agreed to continue discussions at the working level, as proposed by Kartasasmita.

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