Jakarta, Indonesia Sentinel — Indonesia and China have signed a Memorandum of Understanding (MoU) to bolster cooperation in the blue economy sector. The MoU was witnessed by President Prabowo Subianto and Chinese President Xi Jinping during a bilateral meeting on Saturday, November 9 2024, at the Great Hall of the People in Beijing.
The agreement, aimed at deepening collaboration in sustainable marine industries, was signed by Indonesia’s Coordinating Minister for Economic Affairs, Airlangga Hartarto, and China’s Minister of Commerce Wang Wentao.
“This agreement underscores the strong commitment of both nations to work together in the field of blue economy,” Airlangga said in a statement on Sunday, November 10, 2024.
Blue Economy Agreement
The Indonesia-China MoU on the Blue Economy focuses on the sustainable utilization of renewable ocean energy, fisheries and aquaculture management, maritime tourism, innovation, and industrial collaboration.
Airlangga outlined that the partnership will cover downstream marine industries such as seafood processing and marine biopharmaceuticals. Additionally, the agreement includes cooperation in shipbuilding and repair, maritime transportation, and the development of docks and ports.
The MoU also expands collaboration in maritime tourism and recreational services. The Indonesia-China MoU also paves the way for joint efforts on advancing clean energy sources development, including photovoltaic systems, wind power, tidal energy, and inter-island transmission networks.
According to Minister Airlangga, this partnership is crucial for Indonesia, an archipelagic state, and China, a global leader in marine technology development. “This collaboration is vital for Indonesia, as a maritime nation, and China, which has rapidly advanced in marine technology sectors like shipbuilding and marine biopharma. China is also one of the largest sources of marine tourists for Indonesia,” Airlangga noted in a press release.
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The maritime sector holds a strategic role in achieving Indonesia’s economic growth target of 8% by 2028-2029. Collaboration with China is expected to add significant value to Indonesia’s marine products and services, accelerating the transition towards a green economy with a focus on reducing emissions and investing in green technology.
The MoU also emphasizes multi-stakeholder engagement, including local governments, the private sector, research institutions, financial entities, and businesses, to explore opportunities that can fast-track the development of the blue economy.
By leveraging China’s technological expertise and Indonesia’s vast marine resources, the partnership aims to not only enhance economic ties but also support sustainable growth in line with Indonesia’s green economic agenda.
(Raidi/Agung)
