Airlangga encourages 30 Indonesia-China MoUs worth Rp37.1 trillion to be immediately implemented

Coordinating Minister for the Economy Airlangga Hartarto during a meeting with Chinese Trade Minister Wang Wentao in Shanghai, Friday (17/7). (IST)

JAKARTA - The Indonesian government encourages 30 memorandums of understanding for economic cooperation with China worth around Rp37.1 trillion to be implemented immediately. The agreement is within the framework of Two Countries Twin Parks or TCTP.

The encouragement was conveyed by Coordinating Minister for the Economy Airlangga Hartarto when meeting with Chinese Trade Minister Wang Wentao in Shanghai, Friday (17/7), as quoted in a written statement from the Coordinating Ministry for the Economy.

The meeting discussed strengthening trade, investment, industrial areas, digital economy, renewable energy, and regional economic cooperation.

"Various memorandums of understanding that have been signed need to be immediately followed up with real investments," said Airlangga in a written statement received by VOI.

The TCTP scheme connects economic and industrial areas, local governments, and business actors of the two countries. Indonesia also encourages the establishment of joint ventures between national business actors and China to accelerate the implementation of cooperation.

Airlangga said Indonesia and China have complementary economic structures. However, future cooperation needs to be directed at more balanced trade, quality investment, technology transfer, human resource development, and strengthening national industries.

The Indonesian delegation led by Coordinating Minister for Economic Affairs Airlangga met with the Chinese delegation. (IST)

China is Indonesia's main trading partner. Total trade between the two countries in 2025 reached 154.6 billion US dollars. Throughout 2021-2025, bilateral trade showed a growth trend of 7.24 percent.

In the field of investment, China is among the top three sources of foreign investment in Indonesia. In 2025, the realization reached almost 8.1 billion US dollars or about 13 percent of total foreign investment.

The investment is in the processing industry, trade, energy, property, transportation, and warehousing sectors.

The government also encourages the expansion of market access for Indonesian products, increasing the export of value-added goods, strengthening downstream processing, and export-oriented investment. Andantara Indonesia is expected to be a strategic partner in attracting quality investment, strengthening production capacity, and developing priority projects with Chinese investors.

In the energy sector, Airlangga invited Chinese companies to increase investment in the development of solar power plants up to 100 gigawatt. The government also wants the supply chain of the solar panel industry to be built more completely in the country.

Indonesia also asked China's support for the Regional Comprehensive Economic Partnership or RCEP Secretariat to be placed in Indonesia. The permanent secretariat is considered important to strengthen coordination and implementation of the agreement.

Ahead of China's chairmanship of APEC 2026, the two countries will identify priority projects that can be followed up or announced at the leaders' meeting.

"We hope that this meeting will be followed up through concrete cooperation and projects so that it will provide balanced benefits and mutual benefits for both countries," said Airlangga.