Indonesia’s Deputy Minister of Trade, Dyah Roro Esti, has met with Singapore’s Minister of State for Trade and Industry, Gan Siow Huang, in Singapore to strengthen trade cooperation between the two countries, according to reporting from Antara News.
The meeting followed up on a discussion between Indonesian President Prabowo Subianto and Singaporean Prime Minister Lawrence Wong in June and reinforced strategic collaboration in trade, investment, and sustainable development.
According to Roro Esti, Singapore has consistently ranked among Indonesia’s top five trading partners over the past five years and is the country’s largest source of foreign direct investment (FDI).
Bilateral trade between Indonesia and Singapore reached USD 33.7 billion, comprising USD 12.2 billion in exports and USD 21.5 billion in imports for Indonesia, says Antara News.
“In addition to conventional commodities such as oil, gas, and gold, I believe it’s important to also focus on the potential of MSMEs,” she said in a statement on Wednesday (6/8/25.)
At the meeting, held on Monday (4/8/25), both parties affirmed their commitment to increasing bilateral trade and promoting the integration of micro, small, and medium enterprises (MSMEs), particularly those owned by women, into global supply chains.
Both countries acknowledged the important role MSMEs play in strengthening economic structures and driving inclusive growth. Antara News says that in Indonesia, MSMEs contribute around 60 percent to GDP, with more than 64 percent owned by women.
“Empowering MSMEs, especially those owned by women, is not only an economic strategy but also a social commitment to inclusive and sustainable development,” Roro Esti said.
As an example of this commitment, Minister Gan highlighted Singapore’s SME Center, which supports digitalization, artificial intelligence, and business network development.
Singapore also expressed interest in launching a joint women’s MSME network with Indonesia as part of broader regional efforts to empower women in the economy.
To further business ties, the Singaporean Ministry of Trade and Industry (MTI) maintains a representative office in Surabaya, East Java, which actively runs business-matching programs, says Antara News.
Roro Esti welcomed these initiatives and reiterated the Indonesian Trade Ministry’s commitment to expanding concrete partnerships with MTI, especially to integrate MSMEs into global supply chains and promote inclusive, green, and competitive economic growth.
Indonesia’s Trade Ministry also operates in 33 countries, including Singapore, and regularly facilitates business-matching programs to support export performance.
She also called for the establishment of an Annual Ministerial Dialogue (AMD) between the two countries, which has yet to be held.
“We view the AMD as an important platform to align trade priorities, resolve technical issues, and facilitate smoother export-import processes,” she said. “We hope the dialogue can be scheduled soon and become a regular forum.”
Antara News reports that Gan welcomed the proposal and expressed Singapore’s readiness to explore a suitable timeline.
Source: Antara News
Stock Photo by Tom Fisk on Pexels
