Indonesia, Thailand aim to raise bilateral trade to $20B by 2030

Indonesia and Thailand on Monday agreed to increase bilateral trade to $20 billion by 2030 and adopted a new strategic partnership roadmap to expand cooperation across multiple sectors, according to media reports.

The agreement was reached during talks in Jakarta between visiting Thai Prime Minister Anutin Charnvirakul and Indonesian President Prabowo Subianto, the Jakarta Globe newspaper reported.

"Economic cooperation remains the cornerstone of our bilateral relationship. We are confident that the $20 billion trade target by 2030 can be achieved through the implementation of our strategic partnership roadmap," Prabowo said.

The two leaders adopted the Indonesia-Thailand Strategic Partnership Roadmap, which will guide bilateral cooperation over the next four years, and discussed expanding cooperation in trade, investment, food security and the Association of Southeast Asian Nations (ASEAN).

"We have agreed to bolster cooperation in food security, particularly in terms of agricultural technology, logistics, food processing, and supply chain resilience," Prabowo said.

According to the report, Thailand also offered to increase purchases of Indonesia's urea fertilizer if Indonesia opens its market to Thai rice and meat.

Anutin's visit marks the first by a Thai prime minister to Indonesia in 15 years.

Thailand remained the largest buyer of Indonesia's crude exports in the first half of 2026, accounting for 88.81% of purchases, followed by Malaysia and China.

Indonesia did not sell any crude to foreign markets in some months.

Indonesia's annual trade with Thailand hovers around $17 billion over the past three years, government data showed.

The Prabowo-Anutin meeting took place amid ASEAN’s push for its members to trade more with one another. The Southeast Asian bloc is aiming to increase the intra-ASEAN trade of its total commerce from the current 21% to 35%.

On Tuesday, Anutin is due to preside over a business forum, and visit the ASEAN Secretariat to hold a discussion with the bloc's secretary-general on regional cooperation, state broadcaster Thai PBS World reported.