Ties with major Asian economy boosted through new agreement – South Asia Time

Ties with major Asian economy boosted through new agreement

 April 22, 2022  

London — The ‘UK-Indonesia Roadmap’ between the 2 democracies commits to closer working across a range of important areas from trade and investment, to counterterrorism and cyber security.

It will also boost our security and defence relations, with new defence cooperation, joint training and jungle warfare exercises with the British Army in the pipeline, a press release from FCDO U.K. states.

The agreement, personally signed off by the Foreign Secretary, will also support a free and open Indo-Pacific, as well as enhance collaboration on investment in sustainable infrastructure projects and industries of the future, like electric vehicles and green technology.

Foreign Secretary, Liz Truss said:

Indonesia is the world’s fourth most populous country, a strong democracy with a vibrant economy and a vital part of our efforts to defend freedom, peace and stability.

Deeper ties are a win-win, delivering jobs and opportunities for British people while ensuring an open, secure and prosperous Indo-Pacific.

The UK-Indonesia Roadmap will also commit to closer ties with the Indonesian economy, which is forecast to more than quintuple in GDP (PPP$), with 532% growth between 2020 and 2050.

Indonesia is one of the world’s most largely populated countries (272 million) and by 2050, forecast to be the world’s fourth largest economy. They share UK values on international law, multilateralism and democracy with the new ‘Roadmap’ set to turbocharge relations.

Ties will also be boosted by the UK’s offer of over £4 billion to finance long-term projects with British expertise and the relaunched British International Investment (BII) entering the Southeast Asian market later this year.