Menteri Luar Negeri Retno Marsudi mengatakan bahwa China merupakan mitra dagang terbesar bagi Indonesia. Menlu mengatakan bahwa volume perdagangan Indonesia dengan China mencapai lebih dari USD127 miliar atau Rp2.051 triliun. Retno menjelaskan bahwa China juga salah satu investor asing terbesar bagi Indonesia dengan nilai investasi lebih dari USD$7,4 miliar atau Rp119,6 triliun, pada tahun lalu.
Ada beberapa fokus kerja sama investasi Indonesia dengan China yang akan terus diperkuat antara lain di bidang hilirisasi industri, pembangunan infrastruktur, manufaktur, transisi energi, serta ketahanan pangan. Retno menegaskan bahwa dalam pertemuan bilateral dengan China, kedua negara sepakat untuk memperkokoh kerja sama yang saling menguntungkan. Seperti diketahui, Menlu RI Retno Marsudi melakukan pertemuan bilateral dengan Menlu China Wang Yi di Kemlu RI, Jakarta dalam kunjungannya ke Indonesia.
Ada beberapa fokus kerja sama investasi Indonesia dengan China yang akan terus diperkuat antara lain di bidang hilirisasi industri, pembangunan infrastruktur, manufaktur, transisi energi, serta ketahanan pangan. Retno menegaskan bahwa dalam pertemuan bilateral dengan China, kedua negara sepakat untuk memperkokoh kerja sama yang saling menguntungkan. Seperti diketahui, Menlu RI Retno Marsudi melakukan pertemuan bilateral dengan Menlu China Wang Yi di Kemlu RI, Jakarta dalam kunjungannya ke Indonesia.
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TVTranscript
00:00 [music]
00:07 Foreign Minister Retno Marsudi said that China is the largest trading partner for Indonesia
00:14 There is a volume of Indonesian trade with China reaching more than US$127
00:21 or around Rp 2,051 trillion
00:26 and there are several focus of cooperation between Indonesia and China
00:30 which will continue to be strengthened, among others in the field of industrial hillarization,
00:33 infrastructure development, manufacturing, energy transition, and food security
00:39 [music]
00:42 Foreign Minister Retno Marsudi said that China is the largest trading partner for Indonesia
00:48 There is a volume of Indonesian trade with China reaching more than US$127
00:53 or around Rp 2,051 trillion
00:56 Retno explained that China is also one of the largest foreign investors for Indonesia
01:00 with an investment value of more than US$7.4 billion or Rp 119.6 trillion last year
01:07 In the field of economy, RRT is one of the important partners of Indonesia
01:13 RRT is the largest trading partner for Indonesia
01:18 with a volume of trade reaching more than US$127 billion
01:25 RRT is also one of the largest foreign investors
01:30 with an investment value of more than US$7.4 billion last year
01:37 [music]
01:39 The Minister added that there are several focus of cooperation between Indonesia and China
01:43 which will continue to be strengthened, among others in the field of industrial hillarization,
01:46 infrastructure development, manufacturing, energy transition, and food security
01:51 Retno insisted that in the trade partnership with China
01:55 both countries agreed to build mutually beneficial cooperation
01:58 As we know, RRT met with China's RRT Wang Yi
02:04 at Jakarta's RRT Kemenlu in his visit to Indonesia
02:08 From Jakarta, IDX Jino coverage team
02:11 [music]
02:13 Ladies and gentlemen, to discuss our next topic
02:15 the transaction of Indonesia-China trade reached Rp 2,051 trillion
02:19 We have been connected by Zoom
02:21 together with Emrah Bini, a researcher at Indef
02:24 Good morning, Mrs. Eissa
02:26 Good morning, Mr. Pras
02:28 How are you?
02:29 I'm fine, thank you for your time
02:33 As I said, the value of the transaction between Indonesia and China
02:38 is US$127 billion or Rp 2,051 trillion
02:43 where the Minister of Foreign Affairs of China, Wang Yi, met with the Minister of Foreign Affairs of Indonesia
02:49 Retno Marsudi in Jakarta, who discussed about investment, including the hilarization of infrastructure
02:56 How is your review?
02:58 First, about the relationship between Indonesia-China trade all this time
03:01 Is it satisfactory? Please
03:03 Yes, it is
03:05 Regarding the meeting held by China's Manlu and Indonesia's Manlu, Mrs. Retno
03:13 I think this is a strengthening of bilateral relations between the two countries
03:23 From that meeting, there are many aspects that were discussed
03:29 Maybe also related to President Jokowi
03:32 And maybe before that, we also knew that there was a visit from the elected president to China
03:37 to meet with President Xi Jinping
03:40 Regarding the economy, we also know that the bilateral relationship between Indonesia and China is very tight
03:48 This strength has been almost for more than a decade
03:55 between export and import trade between Indonesia and China
03:58 and it has been getting stronger lately
04:02 In addition, the economic relationship is not only seen from the trade, for example, export and import
04:09 but also investment
04:11 We know that many investment projects in the country come from China
04:18 So I think there is a potential for a tighter relationship between the two countries in the future
04:26 Okay, so what factors made China interested in strengthening its trade relations with Indonesia?
04:34 As I explained earlier, there is already a trade relationship between the two countries
04:44 If we look at it, Indonesia has a lot of natural resources
04:48 All this time, our natural resources have been the production inputs in China for their manufacturing
04:56 And then Indonesia also has a large market for the marketing of products from China to Indonesia in the form of imports
05:07 And that becomes one factor
05:09 The second is investment
05:12 China also spreads its MNC network for investment in several countries, including ASEAN and Indonesia
05:21 The third is that Indonesia has a strong position in ASEAN
05:29 China also wants to include ASEAN as a partner, in addition to the economic and international relations
05:39 And Indonesia, among the ASEAN countries, also has good economic stability
05:44 So, Indonesia's strategic role in ASEAN can also be a gateway for China to join ASEAN
05:53 And those are the three factors that I think will continue to build and hold China in the future
06:05 Okay, but if we look at it, as we saw earlier, there is a cooperation between Indonesia and China
06:11 But based on the implementation in the field, especially in Indonesia, there were some obstacles in the field
06:19 Such as flooding of Chinese products, the use of our natural resources by foreign investors, especially from China
06:27 How does Indef see this position?
06:30 Yes, that's right. There are many challenges that we have seen related to this Chinese investment
06:37 We do hope that a bilateral relationship should benefit each other
06:46 I agree
06:47 In addition to the quantity, we see that the value is getting higher year by year
06:55 But we also have to see that the quality of this relationship is better and equal between us and China
07:01 One of the things we can see is that the future investment should be more about sustainability
07:11 How the people should be seen
07:13 And secondly, how investment can provide a job for the Indonesian people
07:22 In terms of trade, we can see that the trade deficit with China has been more than a decade
07:36 So, our imports are more than our exports
07:40 If we break down the components, we can see that many of the goods that we export to China are raw materials
07:52 Or even the added value is low
07:57 So, it becomes an input for the production or industry there
08:01 Likewise, in terms of imports, we can see that many domestic goods are flooded with domestic goods
08:12 We can see that the value is higher because the price is cheaper
08:19 And if the people see the consumer, the cheaper price is more chosen
08:28 What kind of strategy do you think should be implemented to address these challenges?
08:34 So that the harmonious relationship between Indonesia and China is not so loud when it is felt by our people
08:44 Because it is okay to export more raw materials, but the hillarization is also ongoing right now
08:52 Yes, that's right. Actually, the space in this hillarization is that we want to bring investment
09:01 Where they build a factory here, they process the results of our natural resources a lot
09:09 To be of higher added value
09:12 But they bring, because China actually has technology, they have capital
09:18 Here we have to see if they bring the technology and can give an impact or spillover
09:27 Towards technology transfer and then also increase the added value of our natural resources
09:35 So that what we export later is not just raw materials
09:40 This is what needs to be paid more attention to
09:43 Then also how we have to see that investment can also provide jobs to the surrounding community
09:52 And also the most important thing is to see how the sustainability or the impact on the environment
09:58 This is really what needs to be paid attention to, not to be a missed thing
10:03 And all of this should be regulated and agreed upon between the two parties
10:08 Between these two countries, which will later be in the negotiation process between the two countries
10:14 Okay, so there are still some challenges that need to be addressed
10:19 We will discuss further what solutions can be done together
10:23 So that all the people can feel the benefits of the bilateral relationship between Indonesia and China
10:31 But we will discuss later in the next segment, Mr. Issa and Mr. Mirza, stay tuned
10:36 [Music]
10:44 Thank you for staying tuned with us in Market Review
10:47 In the next segment, we will present you with data related to Indonesian and Chinese trade
10:52 As you can see on your television screen, in January 2024, there was a deficit of US$1.38 billion
11:04 Meanwhile, in February 2024, the deficit was US$1.86 billion
11:11 There was also a trade volume in 2023 of more than US$127 billion
11:18 Then the investment value last year was more than US$7.4 billion
11:25 And next, we will see from the economic growth of China
11:29 In 2023, it was recorded at 5.2%, then in Q1 2024, it was recorded at 5.3%
11:37 Meanwhile, the target in 2024 was around 5% for China's economic growth
11:44 Let's continue the discussion with Mrs. Eissa Rahbini, Vanality Indef
11:50 Mrs. Eissa, we will continue again, if you look at some of the data that have been presented
11:56 This is a deficit of Indonesian trade, what do we need to exercise again?
12:02 So that there is a point of balance there, please
12:06 If we look at the data, the last data, if we go back to the history, it has been more than a decade
12:14 We have experienced a deficit, which means the import is bigger than the export
12:20 If we break down our export, there are many raw materials, inputs that have been processed
12:28 But maybe the characteristics of the goods are still low, the added value is still not big
12:36 From here, the point of the hillarization is how we increase the added value of our export products
12:45 So that we can increase our export value
12:50 So the direction of hillarization should be directed to the natural resources that we have
12:58 Which can be used, not just the raw materials
13:03 But it should also be processed more with the industrialization hillarization program in Indonesia
13:11 And one of them can support the investment that we are pushing towards
13:18 Yes, the same desire as the government and maybe all the parties that are important
13:25 Is there a transfer of knowledge, technology, transfer of knowledge for workers or the Indonesian people
13:33 According to your observations so far, has it been done well enough or not?
13:38 Remember when they invested, they also brought their employees
13:45 Does this show that our workers are still not capable with the technology they bring or is it something else?
13:56 Yes, that's right
13:58 If we look at the indicators that the investment from China and Chinese labor, the expats who come here
14:08 We see that the data has always increased from year to year
14:12 And if we look at the data share, in 2023, it was about 49% of the total Chinese labor
14:21 Compared to the total labor from other countries, the portion is very large
14:27 Actually, it's okay if they have high skills
14:35 So they can transfer their knowledge, how to use capital, equipment
14:44 To those who work in Indonesia, who are employed in the public sector
14:50 So it provides a job and there is also a process of how the community is taught
14:56 With the industry process there
14:59 But in fact, those who come to Indonesia are those who are not yet qualified
15:05 Maybe at the lower level, at the level of the workers
15:09 This is actually a challenge, how the process does not work
15:16 For the transfer of knowledge with the investment in Indonesia based on China
15:25 Maybe the mechanism needs to be thought about in the future
15:29 So that the process of knowledge transfer can also run in Indonesia
15:34 That's right, because we know there was a friction in the level of the workers
15:41 And we need to have a renegotiation so that when they invest
15:46 As you said, it should be the experts who come
15:51 To recruit Indonesian workers and train them together
15:55 So that we can develop the productivity of the company together
15:59 Yes, I agree
16:01 Because this bilateral meeting is also a stepping stone for future potential
16:08 Investments, bilateral relations between trade between Indonesia and China
16:14 So maybe that point is also one aspect that should be a concern
16:20 Be a potential in this negotiation aspect
16:23 Okay, and we also know that these two countries will strengthen cooperation to deal with online crime
16:30 As you can see, how is the position?
16:32 This is also to maintain the commitment of peace stability in the Indo-Pacific region
16:38 Do you think this will be a part of cooperation that will strengthen from the political and economic side?
16:46 Yes, so there are several sectors or issues that are conveyed or become a concern from Indonesia and China bilaterally
16:57 One of them is about online crime
17:00 This is related to the digital economy
17:03 That the digital economy is actually developing very fast in Indonesia
17:08 Indonesia is one of the countries that adopts digitalization very quickly
17:14 One of the problems or challenges is cyber security and online crime
17:23 And this must be handled together
17:25 Because the connection is not only Indonesia but also the region
17:29 With the increasingly borderless, with the digital
17:33 And this needs to be handled together
17:35 Maybe not only with China, but also in the ASEAN environment
17:41 In the digital environment, the handling of online crime must continue to be pushed
17:51 With initiatives like this, bilaterally between China and Indonesia
17:56 Indonesia is an important point to handle the challenges in the digital economy
18:03 Then related to peace in the Indo-Pacific region
18:08 I think it needs to be done
18:10 Because now we see regionally that geopolitics is also very high
18:15 There is a war in the Middle East region
18:19 Then there is also a possibility of geopolitical risk in the Indo-Pacific region
18:27 If there is no commitment like this to maintain peace
18:33 We don't want other escalations in other regions
18:37 It actually goes back to giving an impact on the economy
18:41 So it is necessary to maintain this geopolitics
18:44 From your perspective, how do you see the stability of the region?
18:51 If we talk about Southeast Asia, ASEAN, then Indo-Pacific
18:55 Some geopolitical conflicts that are widespread in the Middle East
18:59 It doesn't slow down, although it's actually starting to feel
19:02 Because from the international logistics side, it has been disturbed
19:05 Then the need for our importation of raw materials mostly from abroad
19:09 Yes, that's right. Indeed, the escalation in the Middle East will definitely have an impact on us
19:14 Even though the Middle East is far away, we also have trade relations
19:18 So for areas that are very close to us
19:22 Regional Asia, Southeast Asia, Pacific, Asia Pacific, and Indo-Pacific
19:27 These areas also need to be well maintained
19:30 So as not to have an external impact on domestic
19:34 If we look at the historical chain of sparks for the regional area
19:40 It has been there for several years, it has been tense
19:44 For example, how the United States formed the Indo-Pacific
19:48 And how is the relationship with China?
19:51 Is it followed in the area?
19:55 The point is, Indonesia also has a strategic role in ASEAN
20:01 This is also very important, how to bring peace in the regional area
20:07 In Southeast Asia, Asia Pacific
20:10 That's it. What should be the position of Indonesia?
20:13 If we look at the rivalry between the United States and China's growing power
20:18 Meanwhile, we must still maintain our economy
20:20 Work with our bilateral partners, also with China and of course with the United States
20:25 If we look at the principle, we are a free and active politics
20:32 Not only in international relations
20:36 But also we must bring it into the economy
20:40 Because what we hold firmly is not biased between each other
20:45 We are not neutral
20:48 Both in international relations, the relationship, and then the economy
20:55 Although now we see that our trade relations are also bilateral with China
21:05 In terms of international trade, export-import, and also investment
21:11 However, we must remember that with the United States
21:17 We are also the main partner, from trade, investment
21:22 Also with other East Asian countries, such as Korea
21:26 Also with Japan and several other Asian countries
21:30 So I don't think it's necessary to be biased and have to be balanced
21:35 For which one gives the best impact on the welfare of the country
21:43 Because our focus and target is how our domestic affairs run smoothly
21:47 Our growth can be maintained well
21:49 And also our macroeconomic situation is good
21:53 Okay, that's it. A step that may be quite heavy that must be met by the government
21:57 When we take a position not on the side of any country
22:01 But we must still work with the bilateral economy
22:05 With the countries that were so good
22:07 Mrs. Eissa, thank you very much for the time, sharing, and analysis
22:10 That you have delivered to the audience today
22:13 Congratulations on continuing your activities. Again, greetings, Mrs. Eissa
22:16 Greetings, thank you
22:18 Yes, audience, I have accompanied you for an hour in the market review
22:22 I am Prasetyo Wibowo, along with the staff of the UNUDO
22:26 Thank you and see you
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