Indonesia and Serbia have reached an agreement to enhance their bilateral cooperation across several sectors, including trade, industrial development, food and energy security, and emerging technologies. This decision was formalized during the fifth Bilateral Consultation Forum held in Jakarta.
The discussions led to Indonesia inviting Serbia to participate in mineral exploration and nickel processing, as well as to join the supply chains for electric vehicles. Both countries expressed interest in exploring opportunities within artificial intelligence, data centers, semiconductors, and digital transformation.
Bilateral trade between Indonesia and Serbia has been growing at an average rate of 20.62% annually from 2021, projected to reach $53.6 million by 2025. Both nations have agreed to consider a free trade agreement and the establishment of a joint economic commission, aiming to expand trade and improve market access in Central and Eastern Europe.
Further discussions included investment opportunities, industrial production, and employment cooperation. Indonesia and Serbia also agreed to explore government-to-government arrangements to bolster the legal protection of Indonesian migrant workers in Serbia.
The two countries reaffirmed their commitment to sovereignty and territorial integrity. They concluded the forum with a mutual agreement to hold the next round of talks, the sixth Bilateral Consultation Forum, in Serbia at a future date yet to be determined.