March 31, 2026 | 04:44 pm
TEMPO.CO, Jakarta - Indonesia and Japan inked 10 memorandums of understanding (MoUs) worth around US$23.1 billion or Rp392.7 trillion. The renewal of the Indonesia-Japan Economic Partnership Agreement (IJEPA) is expected to strengthen the foundation of cooperation between the two countries through increased market access, expanded collaboration, and modernization of the bilateral economic framework.
"The business-to-business meetings and the exchange of MoUs are concrete steps toward building a stronger partnership," said Coordinating Minister for Economic Affairs Airlangga Hartarto in an official statement on Tuesday, March 31, 2026.
In the future, he said, Indonesia and Japan's cooperation is expected to surpass traditional economic partnerships and transition to mutual creation of future solutions. According to him, this can be achieved through three main areas of cooperation, namely energy transition and green growth, industrial transformation and downstreaming, as well as strengthening the global supply chain.
According to Airlangga, the Indonesian government believes that the future of partnership lies in working, innovating, and growing together to shape a prosperous future, not only for both countries but also for the Indo-Pacific region.
He stated that the economic relations between Indonesia and Japan are becoming more solid, evident from Japan's position as Indonesia's 4th largest export destination with a value of US$17.61 billion. Japan is one of the main investors in Indonesia, ranking 5th with a total investment of US$3.13 billion, which mainly flows into the automotive and transportation sectors, followed by the chemical and pharmaceutical sectors.
Japan also plays a crucial role in supporting large-scale infrastructure development through public-private cooperation schemes and development assistance, especially in the transportation, port, energy, and urban infrastructure sectors.
Read: Prabowo Says He Welcomes Complaints from Japanese Business Leaders
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