Jakarta – The Coordinating Vice Chair for Foreign Affairs of the Indonesian Chamber of Commerce and Industry (Kadin Indonesia), James Riady, called on Indonesia and Thailand to embark on a new chapter of ASEAN economic relations through investment, innovation, and integrated industrial value chains. He emphasized that the two countries should not merely remain good neighbours, but evolve into great partners working together to shape ASEAN's future.

James made the remarks during the Indonesia–Thailand Business Forum, themed "Advancing the Indonesia–Thailand Strategic Partnership: Building Integrated Value Chains in Industry, Services, and the Halal Economy," organized by Kadin Indonesia in collaboration with the Thai Chamber of Commerce at the Fairmont Jakarta Ballroom on Tuesday (August 4, 2026).

The business forum was held as part of the official visit of Prime Minister of the Kingdom of Thailand Anutin Charnvirakul to Indonesia and served as a strategic platform bringing together government officials and business leaders from both countries to strengthen trade, investment, and business partnerships as part of the implementation of the Indonesia–Thailand Strategic Partnership.

In his keynote address titled "The Next Chapter of ASEAN: From Good Neighbours to Great Partners," James said the warm rapport displayed by President Prabowo Subianto and Prime Minister Anutin Charnvirakul during their state meeting the previous day represented a strategic asset that extends well beyond formal diplomacy.

"Last night, we witnessed something perhaps even more significant than the state banquet itself. We saw two leaders who were not merely conducting diplomacy, but genuinely enjoying each other's company—engaging in warm conversations, sharing laughter, enjoying music together, and building a personal friendship. In Asia, personal relationships often precede business transactions. Trust comes before investment. Friendship forms the foundation of partnership. When leaders trust one another and enjoy working together, it becomes much easier for the business community to build meaningful cooperation," James said.

According to James, the growing political ties between Indonesia and Thailand should now be translated into concrete collaboration across trade, investment, manufacturing, services, and the development of the halal industry.

He noted that Indonesia and Thailand possess complementary strengths rather than competing advantages. Thailand has established strong global competitiveness in modern agriculture, food processing, tourism, automotive manufacturing, logistics, and the digital economy. Indonesia, meanwhile, offers a domestic market of approximately 285 million people, abundant natural resources, a rapidly expanding downstream industrialization program, and a demographic dividend that provides a solid foundation for long-term growth.

"The strengths of our two countries complement one another. That is why this business forum comes at exactly the right moment to open a new chapter of ASEAN economic cooperation," he said.

James also encouraged Thai businesses to view Indonesia not merely as an export destination, but as a regional production and innovation hub.

"I invite our friends from Thailand not only to export your products to Indonesia. Come and build industries with us, manufacture with us, innovate with us, and invest with us. Indonesia is no longer simply a destination for selling products—it is rapidly evolving into a regional center for production, innovation, and business expansion," he said.

He noted that for more than five decades, Japanese companies have helped transform ASEAN's economy through manufacturing localization strategies. Today, James said, Thai companies have a tremendous opportunity to write the next chapter of regional economic development by expanding their investments in Indonesia.

Appreciation for Bangkok Bank

On the occasion, James also expressed his appreciation for Bangkok Bank, which he said has made significant contributions to the growth of Southeast Asia's business community. Having known the Sophonpanich family for more than four decades, he said he had witnessed firsthand how Bangkok Bank has gone beyond providing financing by building long-term trust with businesses across the region.

"Many Indonesian business groups have grown alongside the support of Bangkok Bank. Long-term partnerships such as these deserve recognition because they form the foundation of regional economic development," he said.

James added that the future of ASEAN cooperation would not be built solely through government-to-government or company-to-company relationships, but also through family-to-family collaboration among business families. Family-owned enterprises, he noted, continue to serve as the backbone of Asia's economy, making cross-border partnerships among business families an important driver of investment flows and deeper regional economic integration.

He also welcomed the expansion of Kasikorn Bank Indonesia, describing it as an important milestone in strengthening financial connectivity between Indonesia and Thailand.

"Financial institutions do more than move capital. They build trust. And trust is the fundamental foundation upon which investment grows," he said.

Concluding his speech, James emphasized that if the 21st century is truly to become the Pacific Century, ASEAN stands at the center of global economic growth. As the two largest and most dynamic economies in Southeast Asia, Indonesia and Thailand bear the responsibility not merely to respond to global changes, but to help shape them.

"ASEAN's future will not be built through competition among its member states. It will be forged through deeper integration, shared investment, joint innovation, and long-term trust. Today's forum marks an important step toward a stronger and more integrated ASEAN," James concluded.

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