Australian Prime Minister Anthony Albanese is scheduled to meet President Prabowo Subianto in Jakarta on Thursday, marking his first official overseas visit after securing a second term. The agenda includes bilateral discussions focused on economic cooperation, according to Indonesian officials. 

The Indonesian Employers Association (Apindo) said the business community is paying close attention to the visit, particularly potential collaboration involving Indonesia’s sovereign wealth fund, Danantara. 

“Albanese choosing Indonesia as his first destination sends a very positive signal,” said Apindo Chairwoman Shinta Kamdani on Tuesday, May 13. 

She stated that areas of interest include energy transition, digital infrastructure, education, and healthcare. Kamdani also mentioned that recent global trade developments, including tariff increases imposed by US President Donald Trump, may prompt both countries to explore new trade channels. 

Danantara, Indonesia’s sovereign fund, is also in focus. The entity now manages the assets of more than 800 state-owned enterprises and subsidiaries. It recently reached a USD 4 billion investment agreement with the Qatar Investment Authority and is in discussions with two additional foreign funds, according to company officials. 

“There’s potential for cooperation between Danantara and Australia’s Future Fund, or even its pension fund,” Shinta added. She also referenced Indonesia’s earlier initiative to develop a retirement investment scheme inspired by Australia’s superannuation system. The Finance Ministry had proposed the idea in 2022. 

As of December 2024, Australia’s superannuation assets stood at USD 2.7 trillion, according to government data. 

In Canberra, Albanese addressed parliament ahead of his trip, noting the importance of international economic engagement amid global uncertainty. The Cabinet Secretariat in Jakarta confirmed that Albanese will be received at the State Palace during his May 15–17 visit. 

The Foreign Ministry announced that discussions between the two leaders will cover food security, energy, trade, and other bilateral priorities. It described the visit as a continuation of long-standing cooperation. 

Previous joint efforts have included critical minerals. In 2023, Indonesia and the West Australian government signed a lithium supply agreement to support Indonesia’s electric vehicle battery production. That deal was facilitated by the Indonesian Chamber of Commerce and Industry (KADIN). 

According to international relations expert Ahmad Rizky M. Umar, future cooperation may expand to cover broader supply chain collaboration. He said both countries have overlapping interests in reducing dependence on traditional trade partners and developing new economic links.