The Tsai administration’s New Southbound policy is paying dividends in Taiwan’s trade with Indonesia. That’s the word from foreign ministry official Chen Wen-yi on Thursday. The policy aims to strengthen economic and cultural exchanges with Southeast Asia, South Asia, Australia and New Zealand.
Chen said Indonesia’s representative office in Taipei last week celebrated the 72nd anniversary of Indonesian independence. He said the country’s representative to Taiwan, Robert James Bintaryo, praised the Southbound policy. Bintaryo said the world is facing an economic slowdown, but trade for the first six months this year between Taiwan and Indonesia has seen 16% growth. He said investment has gone up as well. Chen said exchanges have grown between the two countries in education, culture, tourism and labor.
Chen said, “In the area of investment, Taiwan’s investment in Indonesia reached close to US$300 million in the first quarter of this year. The figure only indicates Taiwan’s direct investment in Indonesia. It does not include investment through a third country.”
Meanwhile, foreign minister David Lee was at the reception marking the independence anniversary. Lee said that he hopes to see increased agricultural exchanges between the two countries become mutually beneficial.