Thailand and Indonesia have committed to increasing trade and investment cooperation while stepping up collaborative efforts to tackle cybercrime and drug trafficking. During Indonesian President Prabowo Subianto’s first official visit to Bangkok, the two economies in Southeast Asia upgraded their relationship to that of a strategic alliance.
Prime Minister Paetongtarn Shinawatra has announced that Thailand will hold the first joint trade committee meeting later this year to discover specific opportunities for economic cooperation. Both countries intend to pursue new transactions through crucial institutions, such as Indonesia’s recently established sovereign wealth fund, Danantara.
President Prabowo emphasised Indonesia’s willingness to accept Thai investment in the energy sector, including prospects for cooperative ventures in food storage and management.
The two countries, which have a total trade value of $8 billion, hope to strengthen ASEAN’s economic integration in the face of global uncertainty. They promised to back Malaysia, the current ASEAN chair, in its efforts to restore peace in conflict-torn Myanmar.
Beyond economics, both leaders committed to strengthening defence cooperation, including joint military exercises and marine security. Increased law enforcement cooperation is also on the agenda.
Furthermore, new direct flights between Thai and Indonesian cities were announced.
