#International
Indonesia, Timor-Leste build bridges for the future
Timor-Leste Prime Minister Taur Matan Ruak met with President Joko “Jokowi” Widodo during his official visit to Indonesia on February 13, 2023, to discuss bilateral cooperation between the two countries. During the meeting at the Bogor Presidential Palace, both leaders also discussed the follow up steps after Timor Leste President José Ramos-Horta's visit in July 2022.
Indonesia rapidly moves towards local currency settlement framework (LCSF)
Indonesia is making a significant progress in implementing the Local Currency Settlement Framework (LCSF). The framework is a payment system that allows bilateral trade transactions to be settled in local currencies. According to Bank Indonesia (BI), the implementation of Local Currency Settlement (LCS) has a strategic role in supporting transaction efficiency, local currency market development and rupiah exchange rate stability.
Indonesia, Iran strengthen ties through 8th policy planning dialog
Indonesia and Iran are strengthening their diplomatic ties for 44 years since the formation of the Islamic Republic of Iran, according to Ambassador of Iran to Indonesia Mohammad Azad. The ambassador highlighted the close relations between the two countries in global affairs, human rights and economic and cultural exchanges.
Indonesia's hajj pilgrimage fee rises to IDR 49.8 million while Saudi Arabia lowers it by 30%
The government and the House of Representatives (DPR) have agreed to set the 2023 hajj pilgrimage fee at IDR 49.8 million (US$ 3,281.13) per individual, far from the 2022's cost of IDR 39.89 million. Ironically, the decision was taken after the Saudi Arabia government announced that it would lower the hajj cost by 30%.
Lippo commits to deliver Meikarta apartment units after DPR interferes
Property developer PT Lippo Cikarang Tbk and its subsidiary PT Mahkota Sentosa Utama (MSU) have committed to deliver the Meikarta apartment units to consumers, in the wake of the House of Representatives (DPR) members' interference that the company refund the buyers.
Global banks decline to finance Adaro's smelter project
DBS Bank of Singapore and UK-based bank Standard Chartered have withdrawn from financing PT Adaro Minerals Indonesia's US$ 2 billion aluminum smelter project due to the use of dirty energy.
Indonesia, Latvia strengthen bilateral cooperation in 2nd consultation forum
The Ministry of Foreign Affairs of Latvia's Director General of Bilateral Cooperation Nils Jansson met with Indonesian Foreign Ministry's Director General of America and Europe (Amerop) Umar Hadi in Jakarta on February 9, 2023, to discuss on the two countries economic status in the aftermath of the COVID-19 pandemic, the bilateral ties and the collaboration in regional and international levels.
Authorities search for Susi Air pilot held hostage by Papuan rebels
The authorities are still searching the whereabouts of Susi Air pilot Captain Phillips Mehrtens following the hijack and burning of the aircraft by the West Papua National Liberation Army-Free Papua Organization (TPNPB-OPM) in Nduga regency, Highland Papua, on February 7, 2023.
Indonesia, Australia join hands to promote inclusivity, economic growth in Indo-Pacific
Indonesia and Australia held a 2+2 meeting on February 8 and 9, 2023, in Canberra to delve into important foreign policy and defense/security matters both at the bilateral, regional and global levels.
China's plan to ban solar panel technology export may affect Indonesia's green energy goal
China has been considering to ban the export of several important technologies needed to make solar panels in order to maintain its global dominance and global market share in the sector. The Ministry of Commerce and the Ministry of Science and Technology have imposed the ban on Chinese manufacturers to use their large silicon, black silicon and cast-mono silicon technologies overseas.
Antam, LG Energy Solution cooperation remains unclear
A planned cooperation in developing electric vehicle battery between Indonesian state-owned mining company PT Aneka Tambang Tbk (Antam) and South Korean battery maker LG Energy Solution (LGES) is still unclear. State mining holding company MIND ID Chief Executive Officer Hendi Prio Santoso said that LG even left the negotiation of the project to a member of its Huayou Cobalt Co.Ltd. of China.
Indonesia's counterfeit market: What you need to know
The overflow of made-in-China and local counterfeit products in Indonesia has resulted in economic losses for local businesses and international brands. The K&K Advocates-Intellectual Property said that Indonesia suffered financial losses of IDR 291 trillion (US$ 19.41 billion) due to fake goods in 2020. It was a sharp increase from 2015 when the country suffered losses of IDR 65.1 trillion, kontan.co.id reported in September 2021.