The governments of Indonesia and China have signed four Memorandums of Understanding (MoUs) in the field of economic development in a ceremony held at the Merdeka Palace in Jakarta on Sunday, May 25, 2025 and was witnessed by Indonesian President Prabowo Subianto and Chinese Premier Li Qiang.
In his speech, President Prabowo expressed optimism that these agreements will bring mutual benefits to both nations.
"We are optimistic that this cooperation brings good for both our countries and our people," Prabowo said.
He also extended his gratitude for Premier Li's visit, highlighting the significance of the bilateral relationship. According to Prabowo, the agreements not only benefit Indonesia and China but also contribute to regional peace and stability.
"More importantly, this will bring peace across Southeast Asia, and even the Asia-Pacific region. Once again, thank you for Your Excellency’s visit," he added.
The first MoU was signed between the Indonesian Central Bank (BI) and the People’s Bank of China, setting a framework for promoting bilateral transactions using local currencies. This agreement was signed by BI Governor Perry Warjiyo and People's Bank of China Governor Pan Gongsheng.
The second agreement was between Indonesia’s National Economic Council (DEN) and China’s National Development and Reform Commission (NDRC), focusing on collaboration in economic development policy. The MoU was signed by DEN Chairman Luhut Binsar Pandjaitan and NDRC Chairman Zheng Shanjie.
A third MoU was established between Indonesia’s Coordinating Ministry for the Economy and China’s Minister of Commerce. This partnership aims to enhance economic ties in industrial sectors and supply chains, signed by Coordinating Minister Airlangga Hartarto and Chinese Commerce Minister Wang Wentao.
The fourth MoU involved the Indonesian Coordinating Ministry for the Economy, China’s Ministry of Commerce, and the Fujian Provincial Government. This agreement concerns cooperation under the "Two Countries, Twin Parks" program, and was signed by Airlangga and Wang Wentao.
Beyond these four primary MoUs, Indonesia and China also agreed to collaborate in eight additional sectors:
● Tourism – between Indonesia’s Ministry of Tourism and China’s Ministry of Culture and Tourism;
● Agricultural Exports – between Indonesia’s Agricultural Quarantine Agency and China’s General Administration of Customs;
● Traditional Medicine – between Indonesia’s Ministry of Health and the National Administration of Traditional Chinese Medicine;
● Tuberculosis Control – between the health ministries of both countries;
● Investment Cooperation – between Indonesia’s sovereign wealth fund Danantara and the China Investment Corporation;
● Strategic Business Relations – between the Indonesian Chamber of Commerce and Industry (KADIN) and the China Chamber of Commerce in Indonesia;
● Media Collaboration – promoting joint efforts in media and communication between the two countries.
These wide-ranging agreements mark a new chapter in Indonesia-China relations, reinforcing their commitment to shared growth, regional stability, and cross-sector collaboration.
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