Singapore and Indonesia Celebrate Achievements and Future Prospects at Leaders’ Retreat in Bogor
On April 29, 2024, Prime Minister Lee Hsien Loong of Singapore and President Joko Widodo of Indonesia held a joint press conference in Bogor, Indonesia, at the Singapore-Indonesia Leaders’ Retreat. This year’s event was significant as it was the last retreat for both leaders, with PM Lee set to leave office shortly after.
Key Highlights:
- Defense and Economic Ties: The leaders signed the Joint Update on Defense Cooperation, highlighting a long-standing and robust defense relationship. Economically, Singapore’s investments in Indonesia have surpassed S$74 billion, with new initiatives like the MOU on Cooperation on Digital Transformation fostering deeper ties in the digital economy.
- Environmental and Community Initiatives: The two nations signed an MOU on Community Empowerment in Mangrove Ecosystems and discussed initiatives for carbon credit systems and cross-border electricity trading as part of their commitment to a green economy.
- Resolution of Longstanding Issues: The leaders noted the recent enforcement of agreements on airspace, defense, and extradition, marking progress on some of the complex issues that have been outstanding between the two countries.
- Future Prospects: Both leaders expressed confidence in the future of Singapore-Indonesia relations, entrusting the continuity to their successors and celebrating the stable economic trajectory that President Widodo has set for Indonesia.
Source – PMO
