Beijing and Jakarta signed a series of economic agreements on Wednesday as President Xi Jinping began a trade-focused trip to Indonesia, his first visit to Southeast Asia since taking power.
Like its Asian peers Japan and South Korea, China is seeking to strengthen its presence in the booming Indonesian economy, which has been a leading destination for foreign investment in recent years.
During his two-day trip, Xi, who took power in March, will on Thursday become the first foreign leader to address the Indonesian parliament.
Both countries are very big, both are developing countries, and we have great influence in the region and in the world
After a red-carpet welcome in the capital Jakarta involving a military parade and brass band, the Chinese leader held talks with President Susilo Bambang Yudhoyono.
“Both countries are very big, both are developing countries, and we have great influence in the region and in the world,” Xi told reporters after the meeting.
Chinese and Indonesian ministers signed memoranda of understanding at the presidential palace to enhance cooperation in several industries, including tourism, technology and space research.
The Indonesian and Chinese central banks also agreed to a 100 billion yuan (US$16.3 billion) currency swap deal to shore up the ailing rupiah if necessary.
The currency has fallen amid recent economic turmoil in Indonesia.