September 28, 2025 | 02:52 pm
TEMPO.CO, Jakarta - The Indonesia Investment Authority (INA) and Export Development Canada (EDC), Canada's export credit agency, signed the Market Leader Partnership Memorandum of Understanding (MOU) on Thursday, September 25, 2025, in Ottawa, Canada.
The agreement aims to strengthen bilateral investment relations and promote sustainable economic development between the two countries. Crucially, the MOU includes EDC's commitment of US$600 million (or approximately Rp10 trillion, assuming an exchange rate of Rp16,703 per US Dollar) in financial support.
Ridha Wirakusumah, Chair of INA's Board of Directors, stated that this partnership reflects a mutual commitment to building a mutually beneficial platform for Canada and Indonesia.
"By providing access to Canadian capital and capabilities to support Indonesia's growth, as well as opening up new opportunities for Canadian businesses in one of the fastest-growing economies in Asia," he said in a statement quoted on Sunday, September 28, 2025.
Ridha further noted that the partnership will strengthen INA's role in channeling investments into sectors critical for Indonesia's long-term competitiveness.
The Market Leader Partnership MOU establishes the framework for collaboration, outlining how the two institutions will explore financing solutions and joint opportunities related to the Indonesia-Canada nexus. Priority sectors include infrastructure, cleantech, renewable energy, and agrifood.
This partnership leverages EDC's global financing capabilities and deep local insights, combined with INA's investment mandate, to enhance bilateral socio-economic cooperation and open new opportunities for Canadian and Indonesian businesses.
Specifically, the MOU outlines an EDC financing support allocation of up to US$600 million for INA's investments, aimed at developing various projects within these priority sectors. Through this partnership, EDC will utilize its portfolio, expertise, and existing relationships with Canadian exporters and investors to promote business opportunities in Indonesia.
Canada's Minister of International Trade, Maninder Sidhu, noted that Indonesia was his country's largest export market in Southeast Asia in 2024. With a population exceeding 270 million, he stated that Indonesia is the largest economy in the ASEAN region and has been growing steadily for the past decade.
"Indonesia provides significant opportunities for Canadian exporters and investors, which is why EDC opened its representation in Jakarta in September 2023. Canada and Indonesia have a dynamic partnership forged through trade, investment, and people-to-people connections," Sidhu commented.
He added that this partnership provides a strong foothold for Canadian businesses in key sectors such as agriculture, clean technology, and infrastructure. This collaboration is expected to support the creation of quality jobs domestically and strengthen Canada's role in one of the world's fastest-growing regions.
Todd Winterhalt, Senior Vice President of International Markets at EDC, stated that Indonesia has become a key investment destination for Canadian exporters. He said the partnership with INA reflects EDC's dedication to driving socio-economic growth. "This collaboration aims to significantly enhance trade between the two countries, especially in sectors where Canadian companies excel, such as renewable energy, clean technology, and infrastructure," he concluded.
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