Indonesia and Japan signed to extend a bilateral currency swap agreement on the sidelines of an annual meeting between the International Monetary Fund and the World Bank on October 9.
Jakarta (VNA) - Indonesia and Japan signed to extend a bilateral currency swap agreement on the sidelines of an annual meeting between the International Monetary Fund and the World Bank 𓆉on October 9.
Signatories were Governor of the Bank Indonesia Agus D.W. Martowardojo, Finance Minister Sri Mulyani Indrawati and Japanese Finance Minister Taro Aso, according to the Jakarta Global.
The 22.67 billion USD swap deal is almost double the size of the previous deal inked in 2013. Under the agreement, Indonesia can swap rupiah directly to yen at a predetermined exchange rate, instead of having to convert it first to other currencies, such as the US dollar.
The agreement could reduce the risk of fluctuating exchange rate which may pose to trade and investment between the two countries.
Indonesia also has swap agreements with China and the Republic of Korea, as well as multilateral swap facilities under the Chiang Mai Initiative involving the 10 members of the Association of Southeast Asian Nations (ASEAN).
These are designed to add additional layer of protection to the country's currency and were implemented following the 1998 Asia financial crisis, which forced it to borrow on unfavourable terms from the IMF.-VNA
Central banks of Malaysia and the Republic of Korea (RoK) on October 20 signed a bilateral currency swap agreement in a bid to promote the use of local currencies for bilateral trade and strengthen financial cooperation between the two countries.
The Bank Negara Malaysia (BNM) and the Bank of Korea (BOK) have activated a currency swap-financed facility to provide up to 15 billion RM or 5 trillion Won (4.7 billion USD) to support both countries’ trade settlements.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Talking to the Vietnam News Agency on the occasion of the 100th anniversary of the Vietnam’s Revolutionary Press Day (June 21, 1925–2025), Nikulina, who is also a veteran journalist of Russia’s Sputnik News, emphasised the vital role of mainstream journalism in defending the truth and maintaining public trust.
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula 1 chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a Grand Prix on a Bangkok street circuit from 2028.
The proposed giant sea wall aligns with bilateral cooperation and has been designated a national priority, considering that several regions in Indonesia are experiencing land subsidence of 10–15 centimetres per year.
International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
The partnership aims to strengthen collaboration in the exploration and exploitation of mineral resources, including gold, copper, and manganese, as well as in the development of steel, aluminum, and renewable energy industries.
Illustrative image (Source: noticiasnippon.jp)
