Wednesday, May 29, 2024

Indonesia and Kazakhstan strengthen bilateral cooperation in various sectors

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Indonesia and Kazakhstan have agreed to enhance cooperation in the fields of mining and energy, transportation and connectivity, as well as digital and creative economy. 

This agreement stems from the Second Bilateral Consultation Meeting between Indonesia and Kazakhstan held in Jakarta this week.

The meeting addressed the potential for cooperation between respective state-owned enterprises and chambers of commerce of both countries, aiming to facilitate the resolution of negotiations on the Bilateral Investment Treaty and the Indonesia-EAEU Free Trade Agreement, as highlighted by the Indonesian Ministry of Foreign Affairs in a press release on April 4, 2024.

Discussions also revolved around several initiatives planned for 2024, including the convening of the second Joint Commission on Economic Cooperation (JCEC), the participation of Kazakhstani business delegations in the Indonesia-South and Central Asia (INASCA) Forum and the Trade Expo Indonesia (TEI), as well as high-level official visits and business delegations from Indonesia to Kazakhstan.

Additionally, both parties agreed to expedite the resolution of the Air Service Agreement and strive for visa policies that support increased tourism and business visits, further emphasizing people-to-people contacts.

Moreover, the two nations pledged to explore more efficient logistic routes to boost trade in goods. They also welcomed the continuation of the sister city cooperation between the Capital City of Nusantara (IKN) and Astana, aiming to facilitate the realization of concrete investment plans and cooperation in IKN.

The meeting was jointly led by Abdul Kadir Jailani, the Director-General of Asia Pacific and Africa at the Indonesian Ministry of Foreign Affairs, and Alibek Bakayev, the Deputy Minister of Foreign Affairs of Kazakhstan.

Previously, Kazakhstan’s largest construction company expressed interest in investing in IKN. 

BI Group, a multinational private construction company from Kazakhstan, has been entrusted with numerous large-scale projects in Central Asia. 

The company’s readiness to invest in IKN was confirmed by the Capital City of Nusantara (IKN) Authority.

The entry of Middle Eastern construction companies into IKN was facilitated by the Indonesian Ambassador to Kazakhstan, who had previously visited IKN. During their second visit, BI Group expressed their interest in investing in IKN.

While specific investment potentials from Kazakhstan into IKN have yet to be disclosed, previous MoUs between the IKN Authority and other Kazakhstani companies, such as Sergek Projects in the technology sector, have laid the groundwork for future cooperation. 

The Indonesian Ambassador to Kazakhstan and Tajikistan, M. Fadjroel Rachman, expressed optimism about BI Group’s interest in investing in Indonesia, citing their experience in building new capital cities and their status as a multinational corporation.

Overall, these developments signify a promising trajectory for bilateral cooperation between Indonesia and Kazakhstan, paving the way for mutually beneficial partnerships and economic growth.

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