Singapore and Indonesia reaffirmed their shared commitment to strengthening economic ties at the 15th Singapore-Indonesia Six Bilateral Economic Working Groups Ministerial Meeting (6WG MM), which took place in Singapore. Singapore Deputy Prime Minister Gan Kim Yong and Indonesia’s Coordinating Minister for Economic Affairs, Airlangga Hartarto, co-chaired the meeting.
The 6WG MM serves as a crucial platform for improving cooperation in six key areas: the Batam, Bintan, and Karimun (BBK) region and other special economic zones, investments, manpower, transportation, agribusiness, and tourism.
This participation comes after a recent agreement signed in Jakarta, where both countries committed to clean energy and sustainable development measures. Indonesian President Prabowo Subianto is also set to make his first state visit to Singapore on June 16.
Bilateral trade between the two countries will total US$57.6 billion by 2024. Singapore has maintained its position as Indonesia’s largest source of foreign direct investment, reaching US$20.1 billion this year.
Two commercial agreements were also signed during the meeting. One involves Sembcorp Development and PT Batamraya Sukses Perkasa working together on a 100-hectare low-carbon industrial park. Another connects the Singapore Semiconductor Industry Association to the Indonesian Chamber of Commerce.
