Indonesian Foreign Minister-Philippines Discuss Increased Economic Cooperation

Indonesian Foreign Minister Retno Marsudi delivered a press statement after a meeting with Philippine Foreign Minister Enrique A Manalo (right) in Manila on Tuesday (9/1/2024). (ANTARA/HO official account X @Menlu_RI)

JAKARTA - Indonesian Foreign Minister Retno Marsudi met Philippine Foreign Minister Enrique A Manalo in Manila on Tuesday (9/1) to discuss strengthening bilateral relations, especially economic cooperation.

In the bilateral sector, I focus more on economic cooperation. We welcome the growth of bilateral trade between the two countries over the past five years, despite the global crisis that has occurred," said Retno as quoted by ANTARA, Wednesday, January 10.

To further strengthen bilateral trade, the two foreign ministers are committed to exploring new trade opportunities.

In the investment sector, Foreign Minister Retno and Foreign Minister Manalo welcomed the enthusiasm of the two countries' investors to strengthen investment cooperation.

Retno said that the delegation of the Indonesian Chamber of Commerce and Industry was also visiting Manila, along with President Joko Widodo's official visit to the Philippines.

"Indonesia also appreciates the trust given to SOEs in Indonesia to participate in a number of different projects in the Philippines," said Retno.

The Philippines is a strategic trading partner for Indonesia. The Philippines is a country that contributes to the trade balance surplus of Indonesia with a value of around 11.4 billion US dollars (around Rp. 170.38 trillion).

The total value of Indonesia-Philippine bilateral trade reached 14.39 billion US dollars (Rp215 trillion) in 2022, an increase of 57 percent from the previous year.

Furthermore, Retno emphasized the importance of the commitment of the two countries to fight transnational crime.

"Indonesia thanks the Philippines for its assistance in repatriating 246 Indonesians who were victims of human trafficking last year and returning 73 wild birds to their natural habitat in Indonesia," said Retno.

The Indonesian Foreign Minister also appreciated the joint efforts of the Philippines and UNHCR in registering and inaugurating Indonesian Descendants in Mindanao and stated that Indonesia was waiting for further support for the registration of the second wave.

Foreign Minister Retno's visit to the Philippines to accompany President Joko Widodo also coincided with the 75th anniversary of Indonesia-Philippine Diplomatic Relations.

"We must take advantage of this momentum to strengthen our bilateral relations in various sectors that are of common interest and to jointly overcome regional and global challenges," he said.