Jakarta. Senior minister Airlangga Hartarto recently attended bilateral talks with Singapore’s deputy prime minister Gan Kim Yong with the discussions focusing on economic partnership.

The Indonesia-Singapore Sixth Bilateral Economic Working Groups Ministerial Meeting took place at Marina Bay Sands on Friday. 

According to a ministerial press release, Gan Kim Yong told Airlangga that his country looked forward to forging closer ties and unlocking new opportunities to boost each other’s economic growth. The two government officials then talked of strengthening partnerships in Batam, Bintan, Karimun, and other special economic zones (SEZs). They also explored ways to boost cooperation in the transportation, labor, agribusiness, and tourism sectors.

Airlangga said that Indonesia hoped to crack the top 10 of the world’s largest economies within the next ten years, but this goal calls for an economic growth of between 6 and 7 percent. This prompted Indonesia to look for ways to attract more investment, including by partnering with Singapore.

“Indonesia will continue to strive to maintain stability and peace in ASEAN and the Indo-Pacific. I am sure that Indonesia and Singapore can become anchors,” Airlangga was quoted as saying in a recent press statement.

Airlangga also talked of Indonesia’s candidacy for the Organization for Economic Co-Operation and Development (OECD), and how Jakarta would be the first ASEAN member to join this rich-country club if accepted. Indonesia is also mulling membership at the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). With Singapore’s support, Indonesia could be a member of these two groups in the near future, Airlangga said.

Airlangga also said that the Nongsa Digital Park in Batam was one of Indonesia's milestones in its economic cooperation with Singapore. He added: “Apart from being a data center, the Nongsa Digital Park is also an education center for digital talents in Batam.”

To attract more Singaporean investors into the country, Indonesia has imposed easier multiple-entry visa regulations. Singaporean experts who visit the country regularly via the D17 visa are eligible. Indonesia has also prepared a cross-ministry/agency coordination scheme regarding experts’ arrival in the Batam, Bintan, Karimun region.

Other subject matters during the talks included the Kendal Industrial Park (KIP) which had seen its investment value skyrocket since the government declared it as a SEZ. Airlangga attributed the growth to the financial incentives that the government provided for those who invest in SEZ, be it tax holidays and tax allowances. KIP now hosts 100 businesses with an investment value totaling Rp 43.8 trillion (approximately $2.7 billion).

The meeting ended with the signing of a joint report which they would deliver to the countries’ respective leaders. Such economic working group ministerial meetings have already taken place 13 times, with the last one being held in Semarang last August.