Indonesia and Thailand have agreed to expand bilateral trade to $20 billion by 2030 under a new strategic partnership roadmap unveiled during the first visit by a Thai prime minister to Indonesia in 15 years.
Indonesia’s President Prabowo Subianto revealed the decision following his meeting with Thai Prime Minister Anutin Charnvirakul at the State Palace in Jakarta on Monday.
“Economic cooperation remains the cornerstone of our bilateral relationship. We are confident that the $20 billion trade target by 2030 can be achieved through the implementation of our strategic partnership roadmap,” Prabowo said.
The two leaders endorsed the Indonesia–Thailand Strategic Partnership Roadmap, setting the framework for advancing bilateral cooperation across various sectors over the next four years.
The framework builds upon agreements reached during the leaders’ meeting on the sidelines of the 2026 ASEAN Summit in Cebu, Philippines, in May and formalizes commitments advanced through the Indonesia–Thailand Leaders’ Consultation mechanism since 2025.
On the economic front, both nations agreed to broaden investment, enhance market access, and strengthen business partnerships between enterprises in the two countries.
“We also agreed to strengthen cooperation on food security, covering agricultural technology, logistics, food processing, and supply chain resilience,” Prabowo added.
Indonesia and Thailand will also launch an Indonesia–Thailand Energy Forum to strengthen energy security and support the transition to sustainable energy. They further pledged to expand cooperation in the digital economy, including broader use of local currency transactions (LCT) to enhance trade and investment efficiency.
Prabowo further noted that both countries could capitalize on their strengths in the halal industry to help develop regional and global halal value chains. Anutin voiced optimism about the future of bilateral economic relations, highlighting the combined market potential of roughly 350 million people.
In addition, the governments agreed to establish a Joint Trade Commission—the first bilateral mechanism of its kind between Indonesia and Thailand—to identify new business opportunities and address trade barriers.
POLICY & LAW | U.S. Bans 43 Chinese Companies Over Forced Labor Allegations
