On Sunday, i.e., 10th November 2024, China and Indonesia signed deals worth $10 billion in food, new energy, technology, and biotechnology sectors. The business forum followed the meeting between President Xi Jinping and Indonesian President Prabowo Subianto in China, the first country President Subianto had visited since taking office last month. This visit highlights Indonesia’s commitment to maintaining stronger ties with China.
In a joint statement following the leaders’ meeting, the countries committed to strengthening cooperation in new energy vehicles, lithium batteries, photovoltaics, and the digital economy. They also committed to enhancing their partnership in the global energy transition and jointly ensuring the security of global mineral supplies and industrial chains.
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According to Reuters, Parbowo mentioned that this cooperation will likely improve the region’s stability. “We must set an example that in this era, cooperation, not confrontation, is the path to peace and prosperity,” Prabowo said.
Digital Infrastructure & Other Collaborations
On Sunday, a Chinese battery materials producer signed an agreement with PT Vale Indonesia to establish a high-pressure acid leaching plant in Central Sulawesi, aimed partly at securing nickel supplies, according to a filing in Shenzhen. Prabowo attended the signing.
Indonesia’s largest nickel industry, the world’s largest, is primarily led by Chinese companies such as Tsingshan Holding Group and Zhejiang Huayou Cobalt.
In the technology sector, Indonesia’s GoTo Gojek Tokopedia reached agreements with Chinese companies Tencent and Alibaba to develop cloud infrastructure and enhance digital talent in Indonesia, as previously reported by Reuters.
The two countries also announced new visa policies, including multi-entry long-term visas, and plan to expand direct flights based on travel demand, as per a joint statement. Additional agreements signed during Prabowo’s visit included housing cooperation and exporting fresh coconuts from Indonesia to China.
