Indonesia and New Zealand have agreed to strengthen bilateral economic ties through a new cooperation roadmap, setting a trade target of NZ$6 billion (US$3.6 billion) by 2029 under the Indonesia–New Zealand Comprehensive Partnership Action Plan 2025–2029. The announcement followed a meeting between Indonesia’s Coordinating Minister for Economic Affairs Airlangga Hartarto and New Zealand’s Minister for Trade and Investment Todd McClay, during McClay’s official visit to Jakarta. The new target represents a significant increase from the previous goal of NZ$4 billion by 2024, reflecting the two countries’ optimism about deepening cooperation across multiple sectors.
Focus on Food Security and Dairy Sector. Food security emerged as a central theme in the discussions. Indonesia invited New Zealand to expand its investments in the country’s dairy processing industry, citing New Zealand’s international reputation in the sector. Minister McClay affirmed New Zealand’s readiness to continue supporting Indonesia’s dairy needs in a sustainable and mutually beneficial manner. In addition to dairy, cooperation will also cover agriculture, renewable energy—particularly geothermal—and small and medium-sized enterprises (SMEs). These areas are expected to create long-term benefits and contribute to inclusive economic growth in both countries.
Trade Disputes and Global Integration. Both sides acknowledged ongoing trade disputes concerning horticultural products, livestock, and animal imports that are currently being reviewed at the World Trade Organization (WTO). Resolving these disputes, they noted, is crucial to creating a stable trade environment and ensuring the success of the new partnership framework. New Zealand also expressed support for Indonesia’s ambitions to join the Organisation for Economic Co-operation and Development (OECD) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). According to Minister Airlangga, this support underscores confidence in Indonesia’s economic reforms and will help accelerate the country’s integration into global markets.
Regulatory and Business Climate Reforms. Airlangga reiterated Indonesia’s commitment to pursuing deregulation and business climate reforms, which are aimed at improving legal certainty, strengthening industrial competitiveness, and making the country more attractive for foreign investment. These reforms are expected to complement New Zealand’s increasing trade and investment interests in Indonesia.
Positive Trade Momentum. Data from the Coordinating Ministry for Economic Affairs show that bilateral trade between the two countries reached US$963.23 million from January to June 2025, a rise of 21.56 percent compared to the same period in 2024. Indonesia’s exports to New Zealand stood at US$374.89 million, while imports amounted to US$588.35 million. This positive momentum, officials say, reflects the potential for both sides to achieve the ambitious NZ$6 billion target by 2029.
With the signing of the Indonesia–New Zealand Comprehensive Partnership Action Plan 2025–2029, both countries have signaled a stronger commitment to expand cooperation and build resilience in their economies. Officials emphasized that by focusing on food security, renewable energy, and SME development, the partnership could serve as a model for sustainable and inclusive bilateral cooperation in the Asia-Pacific region.
August 8, 2025, CNBC Indonesia
(https://www.cnbcindonesia.com/news/20250808134710-4-656372/ri-selandia-baru-target-kerja-sama-dagang-nz-6-miliar-di-2029)