October 23, 2025 | 05:36 pm
TEMPO.CO, Jakarta - Indonesian President Prabowo Subianto and his Brazilian counterpart Luiz Inácio Lula da Silva have agreed to cooperate to bolster the economies of both countries. According to Prabowo, Indonesia and Brazil have around US$5 billion in potential economic value.
"Today, we witness a significant economic cooperation, with potential values of more than US$5 billion," said Prabowo in a joint statement with Lula da Silva at the Merdeka Palace, Jakarta, on Thursday, October 23, 2025.
Prabowo's statement came after witnessing the signing of eight Indonesia-Brazil cooperation agreements. One of the deals signed was the energy and mining MoU between the Indonesian Ministry of Energy and Mineral Resources and Brazil's Ministry of Mines and Energy.
In a year, Prabowo said, the deal would reach about US$20 billion in investment value, of which Indonesia would see about 25% direct investment by next month.
Additionally, Indonesia and Brazil have agreed to bolster cooperation in the technology and agriculture sectors. In the defense sector, Prabowo said Indonesia has been using several defense equipment from Brazil. "We plan to continue boosting this cooperation," he said.
Prabowo said that the Indonesian government has already engaged in defense cooperation with Brazil, known as the Defense Cooperation Agreement, with the ratification process underway.
In the energy sector, Prabowo mentioned that Indonesia's state electricity company (PLN) and private entities have already reached agreements.
The governments of Indonesia and Brazil also agreed to proceed with a Comprehensive Economic Partnership Agreement (CEPA), after Indonesia reached the same agreement with Europe and Canada.
"We have support from Brazil, because Brazil is currently the President of Mercosur (a trade bloc consisting of South American countries)," he said.
Indonesia and Brazil also share a similar stance in multilateral relations, as both are members of BRICS (Brazil, Russia, India, China, South Africa) and the Group of Twenty (G20).
On global politics, Prabowo said Indonesia and Brazil share the same stance on the issues of Palestine and Ukraine. Both countries, according to Prabowo, hope for a ceasefire and to push for a two-state solution.
"We hope for an immediate ceasefire, we want real peace, towards a political solution, which is the two-state solution," he said.
Prabowo Subianto received a visit from the President of Brazil, Luiz Inácio Lula da Silva, at the Merdeka Palace, Jakarta, on Thursday morning, October 23, 2025. Lula da Silva arrived at the Halim Perdanakusuma Air Force Base, Jakarta, on Wednesday evening, October 22, 2025, around 05:45 p.m. local time.
The Presidential Secretariat reported that President Lula da Silva is returning the previous visit of Prabowo to Brazil in July 2025. "This visit is also expected to strengthen the strategic cooperation between the two countries in various sectors," said the Presidential Secretariat.
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