SINGAPORE – In a significant diplomatic development, Singapore and Indonesia have reaffirmed their commitment to strengthening bilateral ties, particularly in the realm of regional economic cooperation.
During a high-level meeting between the two countries’ leaders in Jakarta on March 10, Singapore Prime Minister Lee Hsien Loong and Indonesian President Joko Widodo underscored the importance of fostering a strong and sustainable partnership between their nations.
The two leaders discussed ways to enhance trade and investment opportunities, including increasing cooperation in the areas of digitalization, innovation, and regional connectivity. They also reaffirmed Indonesia’s commitment to the Regional Comprehensive Economic Partnership (RCEP) and its potential impact on Southeast Asia’s economic future.
Singapore and Indonesia have long-standing historical ties, with both countries sharing a complex and often tumultuous relationship dating back to the 1960s. However, in recent years, their cooperation has deepened significantly, driven by growing economic interdependence and a shared commitment to regional stability.
As part of this renewed partnership, Singapore is keen to support Indonesia’s development priorities, including its ambitious plans for infrastructure development and digital transformation. In turn, Indonesia is looking to leverage Singapore’s expertise in innovation and technology to drive growth and job creation.
Key Areas of Cooperation
- Trade and Investment: Enhancing bilateral trade and investment ties, including cooperation on digitalization and innovation.
- Economic Development: Supporting Indonesia’s development priorities, including infrastructure development and digital transformation.
- Regional Connectivity: Fostering greater regional connectivity through initiatives such as the RCEP.
Singapore and Indonesia have a long history of cooperation in regional organizations such as ASEAN (Association of Southeast Asian Nations), APEC (Asia-Pacific Economic Cooperation), and the WTO (World Trade Organization). This close partnership is seen as essential for promoting regional stability, economic growth, and prosperity.
A Growing Partnership
The strengthened partnership between Singapore and Indonesia reflects a shared vision for a prosperous and secure Southeast Asia. As the region continues to evolve and grow, both countries recognize the importance of deepening their ties in areas such as trade, investment, and regional cooperation.
In conclusion, the reaffirmed commitment between Singapore and Indonesia underscores the significance of regional economic cooperation in driving growth, stability, and prosperity in the Asia-Pacific region. As two major players in Southeast Asian politics, both countries are poised to play a vital role in shaping the future of their partnership and contributing to regional progress.
BySingapore Ministry of Foreign Affairs