Beijing November 12 2024: China and Indonesia signed deals worth $10 billion at the Indonesia-China Business Forum in Beijing on Sunday, spanning sectors including food, new energy, technology, and biotechnology, Chinese state media reported.
The forum followed a meeting on Saturday between Chinese President Xi Jinping and Indonesian President Prabowo Subianto, who is in China through Nov. 10, the first country he has visited since taking office last month.
Prabowo, who won Indonesia’s presidential election in February, also chose China for his first visit as president elect, underscoring Jakarta’s commitment to stronger strategic ties with Beijing.
In a joint statement after the leaders’ meeting, the countries agreed to enhance collaboration in sectors such as new energy vehicles, lithium batteries, photovoltaics, and the digital economy.
They also pledged to strengthen partnership on the global energy transition and jointly ensure the security of global mineral supply and industrial chains, the statement said.
Prabowo in a separate statement said he was optimistic close cooperation between the two countries would improve regional stability.
“We must set an example that in this era. Cooperation not confrontation is the path to peace and prosperity,” Prabowo said, adding Indonesia was committed to supporting Chinese investors.
On Sunday, Chinese battery materials producer GEM (002340.SZ) signed a deal with PT Vale Indonesia to build a high-pressure acid leaching plant in Central Sulawesi, partly to secure nickel resources, a Shenzhen filing showed. Prabowo witnessed the signing.
The nickel industry in Indonesia, the world’s largest producer of the metal, is dominated by Chinese companies including Tsingshan Holding Group and Zhejiang Huayou Cobalt (603799.SS).
In the tech sector, Indonesian tech firm GoTo Gojek Tokopedia (GOTO.JK), opens new tab signed agreements with China’s Tencent (0700.HK) and Alibaba (9988.HK) to develop cloud infrastructure and digital talent in Indonesia, Reuters reported earlier.
The two countries will introduce visa measures, including multi-entry long-term visas, and encourage more direct flights and destinations based on demand, the joint statement showed.
Other cooperation agreements signed during Prabowo’s visit include collaborations in housing and the export of fresh coconuts from Indonesia to China.
