Jakarta: The Prime Minister opened a Thai-Indonesian business forum, promoting four economic strategies to connect markets of over 350 million people and create regional value chains.
According to Thai News Agency, Prime Minister and Minister of Interior Anutin Charnvirakul delivered a keynote address at the Indonesia-Thailand Business Forum under the theme 'Advancing the Indonesia-Thailand Strategic Partnership: Building Integrated Value Chains in Industry, Services, and Halal Economy.' The event was organized by the Thai Chamber of Commerce in Indonesia in collaboration with the Indonesian Federation of Chambers of Commerce and Industry (Kadin Indonesia). It was attended by Indonesian Minister of Trade Budi Santoso, Indonesian President's Special Representative Hasim Joyohadikusumo, Thai Chamber of Commerce President Poj Aramwattananon, Chartsiri Sophonpanich (Thai Bankers' Association Board Member and CEO of Bangkok Bank), Thai and Indonesian government and private sector representatives, and over 300 members of the media, at the Fairmont Jakarta Hotel in Jakarta, Indonesia.
The Prime Minister proposed that Thailand and Indonesia upgrade their status from "trading partners" to "co-creation partners," linking production, investment, technology, and innovation to create a strong value chain and expand economic opportunities in the ASEAN region. He also thanked Kadin Indonesia and the Thai Chamber of Commerce in Indonesia for co-organizing the forum to connect the public and private sectors, thereby driving cooperation towards tangible projects.
The Prime Minister stated that Thailand and Indonesia should connect their "mainland and island" ties, using Thailand as a production hub and Indonesia as a large market and maritime economic gateway. Following discussions with President Prabowo Subiyanto yesterday, both sides agreed on the need to concretely increase opportunities for the people, entrepreneurs, and investors of both countries amidst a volatile global economy. The Prime Minister emphasized that deeper ASEAN economic integration "is not an option, but a necessity," with Thailand and Indonesia being key drivers.
"The government must reduce obstacles, build confidence, and clarify regulations so that the private sector can invest and innovate to its full potential," the Prime Minister said.
Currently, the two countries have a combined trade value of nearly US$20 billion, and aim to reach US$23 billion in the near future. With a combined population of over 350 million, this reflects the significant potential for further market growth.
The Prime Minister indicated that the next goal must not stop at "trade," but must move towards "joint investment, technology, and added value in the region," and proposed four main areas of cooperation:
1. Food security and halal products. Develop a complete halal value chain, upgrading standards and certifications to expand the market for high-value food and agricultural products globally.
2. Logistics, Transportation, and Digital. Reducing trade costs, connecting infrastructure, and increasing travel between the two countries will be achieved by supporting new flight routes between Bangkok and Jakarta, and Phuket and Bali, as well as the successful investment of Thai Lion Air in Thailand.
3. Finance and the Digital Economy. Expanding cooperation between Thai banks in Indonesia and connecting the PromptPay-QRIS payment system to further boost ASEAN's digital economy.
4. Energy and Green Economy: Jointly develop clean energy to support future industries such as EVs, AI, and data centers.
In closing, the Prime Minister stated that the success of Thai-Indonesian relations must be measured by "what we build together," not just trade figures, but by strong industries, interconnected supply chains, and a more competitive ASEAN.
"May this platform be the starting point for new opportunities, transforming visions into real investments and tangible collaborations," the Prime Minister said.
On this occasion, the private sector expressed gratitude and delight at the Prime Minister's visit to Indonesia, the first in 15 years. They wholeheartedly agreed with the two leaders' commitment to pushing forward concrete cooperation in various areas, particularly trade, which is targeted at US$23 billion. For the business sector, relationships at the government-to-government, private-to-private sector, and people-to-people levels will enhance the competitiveness and cooperation of both Thailand and Indonesia, strengthening ASEAN's economic position and bargaining power at the regional level. Furthermore, the Indonesian private sector recognizes the world-renowned strengths of both countries, namely the halal industry, digital connectivity, and food security. They believe that the strategic partnership between Thailand and Indonesia will lead to supply chain connectivity, empower SMEs, and pave the way for a better future beyond the ASEAN region.