Jakarta: Indonesia and China have reached an agreement to expand their bilateral trade beyond the current volume of US$167 billion, recognizing untapped economic potential between the two nations. This decision was made during their inaugural Comprehensive Strategic Dialogue (CSD) held in Jakarta on Friday.

According to Emirates News Agency, Indonesian Foreign Minister Sugiono, after meeting with his Chinese counterpart Wang Yi, highlighted the intention of both countries to enhance commercial ties. They aim to revitalize strategic platforms across various sectors, including energy, minerals, and maritime trade. Sugiono stated that the current trade figure does not fully capture the potential of both countries, and there is a mutual agreement to bolster cooperation in the trade sector to increase these volumes.

The dialogue laid the groundwork for preliminary discussions on the 2027-2031 Action Plan and opened new avenues for collaboration in artificial intelligence, advanced technology, and quarantine standards. Future technical initiatives are anticipated to include joint development of communication satellites and expanded financial cooperation through local currency transactions.

Both strategic partners reaffirmed their commitment to financing ongoing Belt and Road Initiative projects, most notably the Jakarta-Bandung High-Speed Railway. They also discussed strategies to enhance passenger capacity. In support of industrial resilience, the bilateral cooperation will focus on food security, critical minerals, and strategic infrastructure under the administration of Indonesian President Prabowo Subianto.

The dialogue also encompassed broader defense and diplomatic objectives, indicating a comprehensive approach to strengthening Indonesia-China relations.