SINGAPORE - The relationship between Singapore and Indonesia has prospered, Prime Minister Lee Hsien Loong and visiting President Joko Widodo noted at their fourth Leaders' Retreat on Tuesday , as they expressed the hope that ties will grow stronger in the next five years.
"I'm very happy that in President Jokowi's first term, we have built excellent relationship of trust and cooperation," said Mr Lee at a joint press conference with Mr Joko after they concluded what Mr Lee described as a"very good meeting". At the retreat, a long-held tradition in which leaders and ministers meet informally each year to discuss ways to strengthen ties, both leaders took stock of their wide-ranging cooperation across the economic, people-to-people and security sectors, and discussed how to build on this strong foundation.
Singapore has consistently been among the top investors in Indonesia, and has been the largest foreign investor in Indonesia since 2014, with realised investments reaching US$9.2 billion in 2018. Both countries have also consistently been among each other's largest sources of tourist arrivals.
The leaders also agreed to continue to make progress in other areas, from financial and transport cooperation to strengthening connectivity between their two countries.
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