Jakarta (ANTARA) - Indonesian Trade Minister Budi Santoso has urged the Japanese government to expand its investment in Indonesia, especially in trade and supporting industry-related sectors.
He conveyed this call for the increasing investment during his meeting with Japan's State Minister for Foreign Affairs Miyaji Takuma in Jeju, South Korea, quite recently.
He noted that Indonesia is open to listening and seeking joint solutions for the sake of creating a more conducive business climate.
"Indonesia invites Japan to increase investment in Indonesia, especially in the trade and supporting industry-related sectors. We are open to listening and seeking solutions for any obstacle in the investment process," he said in a statement, received here Sunday.
In addressing challenges related to global dynamics, Indonesia emphasized its stance to continue to uphold the principles of open, fair, and rule-based trade, he added.
Santoso then expressed Indonesia's commitment to improving market access by expanding to non-traditional countries in order to maintain the stability and sustainability of its national export growth.
"We believe that a collaborative and open approach is important for maintaining the stability of regional and global trade," the minister addressed.
Moreover, he also asked for Japan's support for Indonesia's accession process to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Indonesia has requested Japan's full support for the formation of the Accession Working Group to enable it to begin the process of negotiating market access, including trade in goods, services, investment, and government procurement, he said.
Meanwhile, during the meeting, Minister Takuma also expressed his appreciation for Indonesia's stance amid an increasingly-tense global trade situation.
Japan considers Indonesia's approach that prioritizes cooperation and constructive dialogues as a positive step in maintaining regional economic stability.
He also invited Minister Santoso to attend the Osaka Kansai Expo 2025, in April-October 2025.
The total value of Indonesia-Japan trade for the January-March 2025 period was recorded at US$7.70 billion.
In 2024, the figure was recorded at US$35.67 billion with the value of Indonesia's exports to Japan amounting to US$20.71 billion and imports of US$14.96 billion.
Thus, Indonesia enjoyed trade surplus of US$5.74 billion with main products exported to Japan including coal, petroleum gas, copper ore, precious metal scrap waste, and nickel.
Meanwhile, products imported by Indonesia from Japan include motor vehicle parts, passenger motor vehicles, non-alloy steel, and assembled motor vehicles.
