Japan’s Economic Contribution to ASEAN over the Last Five Decades Celebrated by Finance Minister Sri Mulyani Indrawati
Finance Minister Sri Mulyani Indrawati recently spoke about Japan’s significant economic contributions to the growth of Southeast Asian countries throughout their five-decade-long collaboration with the ASEAN. One such contribution was the allocation of 12 percent of Japan’s foreign direct investment to ASEAN members in 2022. Minister Indrawati also noted that Japan’s export and import trade with the ASEAN grew to a total value of 11.6 percent in the same year.
Japan has played a crucial role in financial cooperation with Southeast Asian countries through the ASEAN+3 framework established in 1999, providing assistance during times of financial crisis. Japan has also maintained a longstanding history of interaction with the region, predating the formation of the ASEAN.
Minister Indrawati expressed her gratitude for Japan’s support over the years and congratulated the ASEAN and Japan on their five decades of friendship and cooperation. The theme of the recent ASEAN+3 meeting in South Korea was the 50 years of cooperation and friendship between the ASEAN and Japan.
Following the meeting, Minister Indrawati hosted a bilateral meeting with Japan’s Finance Minister Shun’ichi Suzuki to discuss various topics. These included the macroeconomics of Indonesia and Japan, Indonesian chairmanship in ASEAN, ASEAN+3 economic collaboration, energy transition mechanism and Just Energy Transition Partnership (JETP), and 50 years of cooperation and friendship between ASEAN and Japan.
It is clear that Japan and the ASEAN value their strong economic partnership and that their friendship will continue to pave the way for future opportunities.
