Indonesia Invites Australia To Forge Digital Economic Cooperation

Sydney, Australia (Antara Bali) - During a state visit to Australia, Indonesian President Joko Widodo met Australian Prime Minister Malcolm Turnbull to discuss the vast potential of digital economic development in Indonesia.

"Australian Prime Minister Malcolm Turnbull responded positively to this idea," Foreign Minister Retno Marsudi, who accompanied President Widodo during his visit, stated here on Sunday.

Turnbull also highlighted the need for holding a major conference between both nations, hosted by Indonesia in Bandung, West Java, to intensify cooperation between young businessmen engaged in the digital economy sector as well as invite more Indonesian youth to study in Australia to improve their skills and capacity.

Under the framework of digital economic development between Indonesia and Australia, the government will hold further talks to prepare for the conference.

Private-to-private contacts between Indonesian and Australian businessmen have been growing stronger.

After holding a meeting of players from the Indonesian and Australian private sectors in Perth, last November, approximately 150 Australian businessmen will visit Indonesia in March 2017 to strengthen economic cooperation.

Chairman of the Investment Coordinating Board (BKPM) Thomas Lembong explained that Indonesia holds huge potential for developing the digital economy.

"Indonesia is the biggest digital economy in Southeast Asia, one with high growth and appealing prospects," he pointed out.

Lembong said Australian business leaders have expressed interest in investing up to US$5 billion in Indonesia at a meeting in Sydney.

Australians showed interest mainly in the mining and processing sector, food and beverage industry, tourism and hotel industry, as well as infrastructure.

A latest survey by Austrade, an Australian government institution, showed that Indonesia is the fifth most preferred investment destination by Australia.

Based on data at the BKPM, Australian investment in Indonesia in 2016 had reached $174 million, up four percent from $167 million in 2015.

The BKPM is aiming to attract $3 billion, or Rp39 trillion, investment from Australia in the next three to five years.(WDY)