Indonesia and Serbia have reached a consensus to bolster their collaboration in trade, industrial development, food and energy security, and emerging technologies. This agreement was formalized during the fifth Bilateral Consultation Forum held in Jakarta, marking a significant step towards enhancing economic ties between the two nations.
The discussions between Indonesia and Serbia included an invitation for Serbia to delve into potential partnerships in mineral exploration, nickel processing, and electric vehicle supply chains. Additionally, the two countries explored cooperation opportunities in the fields of artificial intelligence, data centers, semiconductors, and digital transformation, highlighting their commitment to embracing new technologies.
Bilateral trade between the two countries has shown promising growth, with an average annual increase of 20.62% from 2021 to 2025, culminating in a trade volume of $53.6 million by 2025. Both Indonesia and Serbia expressed interest in investigating a potential free trade agreement and the establishment of a joint economic commission to facilitate expanded trade and improve access to Central and Eastern European markets.
The forum also addressed investment opportunities, industrial production, and employment cooperation. Notably, both nations agreed to explore government-to-government arrangements to fortify the legal protection of Indonesian migrant workers in Serbia, demonstrating a mutual commitment to safeguarding workforce rights.
Furthermore, the two sides reaffirmed their dedication to upholding sovereignty and territorial integrity. Plans were also made to convene the sixth Bilateral Consultation Forum in Serbia, although the exact date has yet to be determined.
