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Signing of the MOC between the MoF Japan and Bank Indonesia

December 5th, 2019

Ministry of Finance, Japan

Joint Press Statement

Signing of the Memorandum of Cooperation
between the Ministry of Finance of Japan and Bank Indonesia
on the Cooperation to Promote the Use of Local Currencies

The Minister of Finance, Japan, Mr. ASO Taro and the Governor of Bank Indonesia, Mr. Perry Warjiyo signed the Memorandum of Cooperation for the Establishment of a Framework for Cooperation to Promote the Use of Local Currencies for Settlement of Bilateral Trade and Direct Investment.

The Ministry of Finance, Japan and Bank Indonesia reached mutual agreement on initiatives relating to the promotion of the use of local currencies for trade and direct investment settlement, which includes, among others, promotion of the direct exchange rate quotation and interbank trading between the Japanese Yen and the Indonesian Rupiah. This cooperation will be enhanced through information sharing and periodical discussions between Japanese and Indonesian authorities.

This collaboration marks a key milestone in strengthening bilateral financial cooperation between Japan and Indonesia. The authorities believe that it will positively contribute to encourage the use of local currencies for settlement of trade and direct investment between the two countries.