SINGAPORE: Bilateral merchandise trade between Singapore and Indonesia reached S$59.1 billion in 2021 – a 21 per cent improve from the earlier yr, mentioned the Ministry of Trade and Industry (MTI) on Wednesday (Jun 1).
MTI launched the figures a day after Minister for Trade and Industry Gan Kim Yong concluded his go to to Jakarta, throughout which he reaffirmed robust bilateral financial relations and alternatives for nearer cooperation with Indonesia.
“Singapore and Indonesia share wonderful bilateral financial relations. Indonesia is a key marketplace for Singapore companies seeking to enterprise abroad,” mentioned Mr Gan, who was in Jakarta from May 29 to May 31.
“We will proceed to work intently with the Indonesian authorities to deepen our bilateral financial ties and assist our companies discover new alternatives in Indonesia.”
According to MTI, Indonesia is Singapore’s sixth largest buying and selling associate. Singapore has additionally persistently been Indonesia’s high supply of Foreign Direct Investment (FDI) since 2014.
In 2021, the overall worth of Singapore-originating investments in Indonesia amounted to S$12.8 billion, accounting for 14.9 per cent of Indonesia’s complete FDI.
DEEPENING BILATERAL COOPERATION
During his journey, Mr Gan met Indonesia’s Minister of Investment Bahlil Lahadalia, Minister of Energy and Mineral Resources Arifin Tasrif, and the Head of the Nusantara National Capital Authority Bambang Susantono.
At the conferences, either side expressed curiosity in deepening bilateral cooperation in the areas of vitality, infrastructure growth, and the digital financial system.
Mr Gan additionally attended the Singapore Business Federation’s (SBF) GlobalConnect@SBF enterprise occasion held at Singapore Enterprise Centre @ Jakarta on May 31, assembly with a number of Singapore enterprise representatives primarily based in Jakarta.
During his journey, Mr Gan additionally met enterprise representatives from Indonesian firms in the monetary, vitality and tech sectors.
He visited Bumi Serpong Damai City in South Tangerang, the place he visited a Transit-Oriented Development facility that might function an vital connection node between Tangerang and Jakarta, mentioned MTI.
Bilateral merchandise trade between Singapore and Indonesia rose 21% in 2021: MTI & More Latest News Update
Bilateral merchandise trade between Singapore and Indonesia rose 21% in 2021: MTI & More Live News
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Bilateral merchandise trade between Singapore and Indonesia rose 21% in 2021: MTI & More News Today
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