President Jokowi And Canadian PM Agree To Increase Investments

JAKARTA - President Joko Widodo (Jokowi) and Canadian Prime Minister Justin Trudeau in bilateral meetings, agreed to increase investment and trade.

"Both leaders, both Canada and Indonesia, both agree that bilateral relations, economic relations, cooperation relationships must still be improved, and investment values, the value of trade in the future is both improved," said the Minister of Investment/Head of BKPM RI Bahlil Lahadalia after accompanying President Jokowi in a meeting with PM Trudeau at the Merdeka Palace, Jakarta, reported by ANTARA, Tuesday, September 5.

Based on the one-data portal of the Indonesian Ministry of Trade, the trade value between Indonesia and Canada in 2022 reached 4.2 billion US dollars with a growth trend over the last four years of 10.7 percent.

However, during January-June 2023, the trade value between the two countries was only 1.8 billion US dollars, a decrease of 10 percent compared to the same period last year.

Bahlil explained that the two leaders also discussed various potential economic cooperation, such as nickel management to build the electric vehicle industry, as well as the continuation of the divestment process of PT Vale Indonesia Tbk's shares to the Indonesian government.

"How there is synergy towards the management of natural resources, especially nickel, in the context of the construction of electric vehicles, electric car batteries," said Bahlil.

President Jokowi in a meeting with PM Trudeau, expressed Indonesia's hope that the ASEAN-Canada strategic partnership which will be launched on Wednesday (6/9) can strengthen cooperation between the two parties.

"Tomorrow (Wednesday, 6/9), the ASEAN-Canada strategic partnership will be launched. I hope it will increase cooperation between us," said Jokowi.

Meanwhile, PM Trudeau expressed his gratitude to Indonesia because his chairman in ASEAN this time involved Canada again.

According to him, the launch of the ASEAN-Canada strategic partnership is very important for Canada and the region.

"Southeast Asia is one of the fastest growing areas in the world and Indonesia's leadership in these developing countries is extraordinary," explained PM Trudeau.

Canada has seen tremendous growth in bilateral relations with ASEAN countries over the past few years.