Singapore, – Singapore is known as one of Indonesia’s strategic partners, especially in the investment sector. So far, Singapore is the highest realization of foreign investment (PMA) in Indonesia.

Therefore, according to Vice President K.H. Ma’ruf Amin the two countries have many opportunities for cooperation, such as developing the sharia economy.

“This sector has great potential to strengthen the economies of both countries. The Islamic economy can also help restore the economy amidst the threat of a recession,” said the Vice President when meeting Deputy Prime Minister of Singapore Lawrence Wong at the Parliament of Singapore, Tuesday (18/10/2022).

This economic potential, the Vice President continued, is expected to be one that the two countries can develop together. One of them is through cooperation in developing halal products.

“In 2028, the value of halal products at the global level can reach more than 11 trillion USD. Indonesia and Singapore must be able to seize this opportunity, especially for food and beverage products, medicines, Muslim clothing, and cosmetics,” he said.

Therefore, said the Vice President, the process of forming a cooperation agreement for Indonesian-Singapore halal products needs to be carried out immediately.

“This is expected to be able to increase trade and competitiveness of halal products from both countries in the global market,” he said.

In addition, the Vice President also hoped to increase Indonesia-Singapore cooperation in halal tourism.

“The tourism sector will develop rapidly in Muslim tourist visits. In 2028 the potential of the Muslim tourism market is estimated to reach 25 billion USD,” he explained.

Furthermore, the Vice President revealed that this year, Indonesia reached the second rank in the Global Muslim Travel Index. Therefore, Singapore’s role as a hub for Muslim tourists to Indonesia is vital.

“In the future, I hope to strengthen Indonesia-Singapore collaboration to encourage the progress of Muslim tourism,” he concluded.

Responding to the Vice President’s wish, Deputy Prime Minister Lawrence Wong also welcomed and will study various potentials for a comprehensive partnership between the two countries, including in the field of Islamic economics.

“At the same time, of course, we are open to suggestions and views from the Vice President. We will certainly study and see what we can do, namely cooperation in halal products and tourism,” he said.

Specifically, to support tourism development, including halal tourism, Deputy PM Wong emphasized the importance of increasing the capacity of Indonesia-Singapore flights, which are currently quite crowded.

“We can work together to increase its capacity so that it can have more flights and encourage travel not only by airplane but also by ferry,” he hoped.

Presented to accompany the Vice President in this meeting the Minister of Foreign Affairs Retno L.P. Marsudi, Ambassador of Indonesian to Singapore Suryo Pratomo, Head of the Vice President Secretariat Ahmad Erani Yustika, and Special Staff of the Vice President Masduki Baidlowi.

Meanwhile, the Deputy Prime Minister of Singapore was accompanied by Director General of Southeast Asia Catherine Wong, Principal Secretary of Deputy Prime Minister of Singapore Joshua Lo, Deputy Director Terrence Teo, and Country Officer Andrew Leung. (SM/LHS- BPMI Setwapres)