SINGAPORE - Bilateral ties will be strengthened to overcome the Covid-19 pandemic together, Singapore and Indonesia have reaffirmed.
During the 11th Singapore-Indonesia Six Bilateral Economic Working Groups ministerial meeting on Wednesday (July 14), Trade and Industry Minister Gan Kim Yong and Indonesia's Coordinating Minister for Economic Affairs Airlangga Hartarto recognised the continued economic challenges posed by the pandemic and discussed key achievements as well as future economic activities.
The meeting is a key platform for economic cooperation between the two neighbours in six key areas: Batam-Bintan-Karimun and other special economic zones, investment, manpower, transport, agribusiness and tourism.
At the meeting held at Sands Expo and Convention Centre at Marina Bay Sands, the co-chairmen of the working groups recognised the importance of deepening cooperation in emerging areas, such as the digital economy, technology and innovation, as well as sustainability, the Ministry of Trade and Industry (MTI) said.
"They committed to redouble efforts to strengthen cooperation in these areas to allow Singapore and Indonesia to seize opportunities in the rapidly evolving world," MTI noted.
These efforts include the development of smart and sustainable townships, and smart technologies to improve existing manufacturing solutions.
Among the initiatives discussed during the meeting were the official designation of the Nongsa Digital Park as a special economic zone and the ongoing developments in the Kendal Industrial Park.
These initiatives provide a platform for businesses in Singapore and Indonesia to strengthen networks and identify new collaboration opportunities, MTI said.
Mr Airlangga is in Singapore for a three-day working visit that ends on Wednesday, and met Prime Minister Lee Hsien Loong on Tuesday.
Singapore and Indonesia share close trade and investment ties.
Last year, Indonesia was Singapore's seventh-largest trading partner, with bilateral trade reaching $48.7 billion.
The Republic has also been Indonesia's top investor since 2014, with investments spread across various sectors, including manufacturing, energy and logistics.