Bangkok, Thailand - The Indonesian Chamber of Commerce and Industry (Kadin) and the Board of Trade of Thailand signed a Memorandum of Understanding (MoU) to enhance cooperation in the fields of economy, trade, and investment between the private sectors of the two countries in Bangkok, Thailand on Monday (19/05/2025).

The signing took place during the Indonesia-Thailand CEO Forum, coinciding with President Prabowo Subianto's official visit to Thailand.
The signing was also witnessed by Indonesia's Coordinating Minister for Economic Affairs, Airlangga Hartarto.

The Thai Board of Trade, as a leading private sector organisation with an extensive national network, plays an important role in driving policies to improve the competitiveness of Thai businesses.

The organisation is committed to advancing Thailand's position on the world stage through cross-sector collaboration to drive economic growth, competitiveness and long-term sustainability.

Kadin Indonesia also plays a key role in designing business policies, strengthening international cooperation, and enhancing the global competitiveness of Indonesian entrepreneurs.

The agreement aims to facilitate co-operation in the following areas:

• Promotion of trade, investment, and economic collaboration
• Exchange of business, trade and economic information
• Collaboration in the organisation of and participation in trade fairs and business promotions
  business
• Exchange of business delegations and support of business visits

The cooperation is also supported by the Thai Chamber of Commerce in Indonesia (ThaiChamIndo) which will act as the main liaison between the two organisations and facilitator of bilateral private sector cooperation.

ThaiCham Indonesia was established in July 2024 by private Thai companies with support from the Royal Thai Embassy in Jakarta. The organisation serves as a central hub for Thai businesses in Indonesia to liaise with government and private parties to promote sustainable trade and investment cooperation.

Indonesia is the largest economy in ASEAN and an important trading partner for Thailand. In 2024, Indonesia ranked 8th as Thailand's trading partner, with total trade value reaching THB 643.9 billion, an increase of 1.19% over the previous year. Both countries have potential as production bases, export centres, and regional hubs in strategic sectors such as agri-food, renewable energy, automotive, tourism, healthcare, and digital economy.

The close partnership between the Thai Board of Trade and Kadin Indonesia will foster the strengthening of business networks, open new trade opportunities, and explore sustainable economic development strategies that will strengthen ASEAN's regional economic stability.

The signing of this MoU is a tangible step in strengthening private sector engagement and building a solid foundation for Thailand-Indonesia economic collaboration going forward. It reflects a shared commitment among ASEAN countries to strengthen the region's resilience and effectively face global challenges.