Indonesia and Japan discuss investment and industry cooperation

In addition, Indonesia’s Purchasing Managers Index (PMI) has been at a vast level for nine consecutive months.

Jakarta (ANTARA)-Industry Minister Agus Gumiwan Cartasasmita of Indonesia met with Japan’s Minister of Economy, Trade and Industry (METI) Kenichi Hosoda on Wednesday to conclude a series of visits to Japan to discuss industrial investment and cooperation.

This meeting was a follow-up after Prime Minister Fumio Kishida’s visit to Indonesia in April 2022.

“This conference aims to continue discussions between Indonesia and Japan on trade, industry, infrastructure, marine and fisheries, energy, and environmental issues,” the Indonesian minister said in Tokyo.

Indonesia’s economic growth outlook is very strong, as the World Bank predicts that Indonesia’s economy will grow by about 5.1% and 5.3% in 2022 and 2023, respectively.

Meanwhile, the International Monetary Fund (IMF) predicts that Indonesian economy will grow 5.4% in 2022 and 6% in 2023.

In fact, Indonesia’s economic growth in the first quarter of 2022 reached 5%, Karthasasmita said.

“In addition, Indonesia’s Manufacturing Management Index (PMI) has expanded for the ninth straight month, indicating that Indonesia is one of the fastest-accelerating countries in ASEAN. “He said.

Therefore, it is expected that Indonesia’s rapid economic recovery will support the development of investment by Japanese industrial companies.

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The Indonesian minister also praised Japan’s initiative on cooperation in the automotive industry for supporting Indonesia’s policy of developing an electric vehicle ecosystem in line with Japan’s decarbonization policy.

“We hope that this cooperation will increase investment in the automotive industry sector and strengthen Indonesia’s position as an automotive production base in ASEAN for global export purposes,” he added.

Meanwhile, Japan’s Minister of State praised the Indonesian government for cooperation and support, saying that cooperation between Indonesia and Japan has so far benefited both sides and should be improved.

The meeting also discussed the continuation of negotiations on the revised Protocol of the Japan-India Economic Partnership Agreement (IJEPA).

Hosoda agreed to have further discussions at the practical level, as suggested by Cartasas Mita.

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