Union Finance Minister Nirmala Sitharaman alongside her Indonesian counterpart Mulyani Indrawati on July 16 announced the launch of the ‘India–Indonesia Economic and Financial Dialogue’ (EFD Dialogue).
India, Indonesia Announce Launch Of Economic And Financial Dialogue
The EFD Dialogue was unveiled during the G20 Finance Ministers and Central Bank Governors (FMCBG) meeting at Gandhinagar. The platform seeks to strengthen cooperation between the two nations and foster a shared understanding on global issues.
“The evolution of India’s ‘Look East Policy’ in 1991, followed by the ‘Act East Policy’, has facilitated a rapid development in our bilateral relations, particularly in the commercial and cultural fields,” Nirmala Sitharaman said.
“Indonesia has emerged as India’s largest trading partner in the ASEAN region, with our trade seeing an eightfold increase since 2005, reaching an impressive $38 billion in 2022-23,” Sitharaman added.
The platform is poised to deepen bilateral relationship by bringing together economic policymakers and financial regulators from India and Indonesia. The EFD Dialogue will not only enhance the bilateral relationship between both countries, but also contribute to the broader economic and financial stability of Southeast Asia and the world as well.
