Indonesia-Japan Ease Trade Restrictions

Indonesian Foreign Minister Retno Marsudi unveiled the outcomes of the bilateral meeting between President Joko Widodo and Japanese Prime Minister Fumio Kishida on Dec 16. Retno highlighted several pivotal points resulting from the meeting held in Japan. One of these was the mutual agreement between Indonesia and Japan to eliminate further trade barriers.

Retno stated that this accord followed comprehensive negotiations between the two nations regarding protocols to enhance their bilateral economic agreement. "Japan will grant broader access to Indonesian products, including the removal of tariffs on processed fisheries goods, while both countries will bolster relations in the banking sector," she said, as quoted on Dec 17.

Moreover, Indonesia received a grant of patrol vessels from Japan worth US$63.3 million for the Maritime Security Agency. Japan also pledged to expedite the construction of the East-West Mass Rapid Transit (MRT) line, connecting Cikarang to Balaraja, with a groundbreaking target set for August 2024. Another significant agreement involved a memorandum of understanding between the RSJPD Harapan Kita and the Tokushukai Medical Corporation valued at US$70.3 million.