World

Indonesia, Japan to boost local currency use in bilateral transactions

Bank Indonesia Governor Perry Warjiyo and Japanese Finance Minister Taro Aso recently signed an MoU on the use of the countries’ currencies in bilateral trade and direct investment transactions.

Jakarta (VNA) – Bank Indonesia Governor Perry Warjiyo and Japanese Finance Minister Taro Aso recently signed a memorandum of understanding on the use of the countries’ currencies in bilateral trade and direct investment transactions.

The agreement on the establishment of a local currency settlement framework will enable the two sides to promote the direct exchange of rate quotation and interbank trading between the Japanese Yen and the Indonesian Rupiah.

The cooperation will also be enhanced through information sharing and regular discussions.

In a joint press statement released on December 5, they said the framework is a key milestone for both nations to intensify their financial cooperation.

Japan is currently the second largest investor in Indonesia. Over the last 10 years, Japan has invested 31 billion USD in the archipelago nation. The contribution of Japanese companies to Indonesia’s exports increased from 18.1 percent to 24.4 percent in the first half of 2019, according to data from the Investment Coordinating Board of Indonesia./.

VNA
#Bank Indonesia Governor Perry Warjiyo#Japanese Finance Minister Taro Aso#local currency use#Japanese Yen#Indonesian Rupiah#Japan's investment in Indonesia#Vietnamplus#Vietnam News Agency
Follow VietnamPlus

Related News

Indonesia, Japan agree on disaster mitigation cooperation

Indonesia, Japan agree on disaster mitigation cooperation

The Japanese and Indonesian governments have agreed to foster cooperation in disaster mitigation following humanitarian aid and disaster mitigation programmes in the wake of powerful earthquakes and tsunami in Central Sulawesi province.
RoK, Indonesia boost bilateral cooperation

RoK, Indonesia boost bilateral cooperation

Leaders of the Republic of Korea (RoK) and Indonesia on November 25 discussed ways to strengthen their cooperation in various areas, including infrastructure projects and the economy.

See more

At Pulau Seraya power station (Photo: Straitimes)

Singapore begins construction on hydrogen-fueled power plant

Singapore on October 23 began the construction of an 800 million USD power plant that has the capability to use hydrogen to generate electricity, as part of a push to utilise the fuel to reach Singapore’s net-zero carbon emissions target by 2050.

Delegates at the event (Photo: VNA)

125th anniversary of Permanent Court of Arbitration celebrated

The Permanent Mission of Vietnam to the United Nations and missions of the Philippines, Australia, Egypt, Guatemala, Hungary, Thailand, France, Eritrea and Austria, organised a ceremony on October 22 to celebrate the 125th anniversary of the Permanent Court of Arbitration (PCA), as part of the International Law Week at the UN General Assembly's Legal Committee (Sixth Committee).

CEO of the Malaysia Digital Economy Corporation Anuar Fariz Fadzil (Photo: focusmalaysia.my)

Malaysia continues placing emphasis on digitalisation

The Budget 2025 provides significant support to further accelerate Malaysia’s digitalisation, encourage adoption of artificial intelligence (AI) and drive inclusive growth, further positioning Malaysia as a leading digital hub within the ASEAN region, according to CEO of the Malaysia Digital Economy Corporation (MDEC) Anuar Fariz Fadzil.

Malaysia's economic reforms boost investment inflow (Photo: thestar.com.my)

Malaysia's economic reforms boost investment inflow

Malaysia has attracted substantial foreign investments, reaching 22.2 billion MYR (5.16 billion USD) in the third quarter of 2024, the highest level for the same period since 2012, according to UOB's Global Markets and Economics report.

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN speaks at the debate (Photo: VNA)

Maintaining peace, stability a must for progress on human rights: Ambassador

Progress in human rights can only be achieved by maintaining peace and stability, respecting the rule of law at both the international and national levels, and ensuring respect for the principles of national sovereignty and non-interference in internal affairs, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN.

A visitor browses travel promotions at a travel fair in Nonthaburi province. (Photo: Bangkok Post)

Thailand plans enhanced support for domestic tourism

Thailand’s Ministry of Tourism and Sports is aiming to increase subsidy to local tourists in the upcoming stimulus scheme to 50% and would like to change the criteria for online travel agents, mandating them to register in Thailand to avoid losing income to foreign companies.

Oil field offshore Indonesia. (Photo: thejakartapost.com)

Indonesia begins major oil, gas exploration in Sulawesi

Indonesia's state-owned oil company Pertamina, along with foreign partners Sinopec from China and Kuwait’s Kufpec, has signed a contract to explore the Melati oil and gas block, located off the coast of Sulawesi. The block is estimated to contain trillions of cubic feet of gas reserves.