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Indonesia, Thailand target 20 bln USD in two-way trade by 2030

Indonesia and Thailand aim to increase bilateral trade to 20 billion USD by 2030 under an expanded strategic partnership covering the economic, energy and agricultural sectors, Indonesian President Prabowo Subianto announced on August 3.

Durian is one of Thailand's key export commodities. (Photo: AFP/VNA)
Durian is one of Thailand's key export commodities. (Photo: AFP/VNA)

Jakarta (VNA) – Indonesia and Thailand have set a target of raising bilateral trade to 20 billion USD by 2030 through strengthened strategic partnerships across the economic, energy, and agricultural sectors.

The goal was announced by Indonesian President Prabowo Subianto during a joint press statement with Thai Prime Minister Anutin Charnvirakul in Jakarta on August 3, Indonesia's Antara news agency reported.

Earlier, during their talks, the two leaders officially adopted the Indonesia-Thailand Strategic Partnership Roadmap 2026–2030, providing a framework to expand market access, promote bilateral investment, and remove trade barriers.

As part of the roadmap, the two countries will establish a Joint Trade Commission, the first bilateral trade mechanism between Indonesia and Thailand, to address trade barriers and unlock new business opportunities.

In agriculture and food security, the two countries agreed to strengthen cooperation in the application of agricultural technologies, enhance supply chain resilience, and develop interconnected logistics networks.

They also pledged to leverage their strengths in the halal food industry to build integrated value chains targeting regional and global markets.

Besides, cooperation in energy security and the digital economy are identified as priority areas of the bilateral cooperation. The planned establishment of the Indonesia–Thailand Energy Forum is expected to support the transition towards sustainable energy and strengthen the resilience of regional power systems.

The two sides are also seeking to expand Local Currency Transaction (LCT) frameworks, a move aimed at reducing exchange-rate volatility and improving efficiency in cross-border trade transactions.

Anutin said that with a combined population of around 350 million and vast economic potential, Indonesia and Thailand have ample room to expand economic cooperation. As two of Southeast Asia's largest economies, the countries enjoy complementary strengths and play key roles in advancing ASEAN's economic integration./.

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