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n the past few years, Indonesia has made a resounding progress in various fields. The first reform movement that we launched in 1997 has posited Indonesia as one of the vibrant democracies in the world. A series of elections are held peacefully nationwide. And, good governance has become our top-credo in moving Indonesia toward a more stable and prosperous nation.

Indonesia’s economy performance has made these achievements more impressive. Where once financial obituaries were written about the demise of Indonesia gripped by the 1997 crisis, the country today is thriving as never before.

Last year, the GDP grew up by 6.1 percent, topping the other G-20 members. And better still, other statistical indicators, such as foreign reserves amounting to more than US$120 billion, relatively low inflation rate, and increasingly stronger Rupiah (Rp 8.500) against the US Dollar, have further raised our hope that in the near future Indonesian economy will be far more robust, matching of those Chinese and Indian. This year, it is expected that our economy will grow around 7 percent primarily due to strong domestic consumption, investment and export.

In order to achieve such a target, for the next five years, Indonesia will need around US$150 billion to finance its infrastructure projects, such as: Seaports, airports, highways and railways, to name a few.

Bearing these in mind, many analysts have started to refer Indonesia as “a success story”, and “the next India”. All ends with a positive note. Indeed, Indonesia — under the leadership of President Susilo Bambang Yudhoyono — is currently a country with a steady political order and vibrant economy. In a broader perspective, today’s Indonesia deserves to enjoy a leap frog to a more sustainable growth trajectory that will secure our economic growth in the years to come.

Such a claim is not without foundation.

Facts show that Indonesia was one of the few that continued to make positive growth in the past few years, including during the last global financial turbulence (2008). A combination of Indonesia’s positive GDP growth, improving investment climate, stable macro-economic policies and domestic political stability have made Indonesia a very attractive investment destination for foreign investors.

These impressive performances have increasingly strengthened our position as one of the most vibrant economies in the world. It is not surprising if investors are now talking about BRIICS — Brazil, Russia, India, Indonesia, China and South Africa. Fitch Ratings announced that Indonesia’s sovereign credit rating has increased to one notch below investment grade, reflecting Indonesia’s resilience to the recent global financial crisis. Many analysts even predict that soon Indonesia will be able to reach the investment grade.

Better still, Indonesia is now a member of the G-20 that has become the prime-mover for international economic cooperation. This is a clear evidence of the international recognition of our rising economic power.

With the total GDP of around US$700 billion, Indonesia is also the largest economy in Southeast Asia and in that regard plays an active role in shaping the agenda within the regional frameworks such as ASEAN, ASEAN+3, ARF, East Asia Summit and APEC.

With regard to Indonesia — China bilateral relations, nobody doubts that China is currently the darling of the world with whom every country would love to have a special relationship. Indonesia is no exception.

Indonesia and China signed the Joint Declaration on the Strategic Partnership in 2005 and its Plan of Action in 2010 boosting up bilateral cooperation in the field of economy, politics and socio-culture.

The signing of those two platforms is indeed a watershed in the history of our bilateral relations. They signal our determination to work hand in hand in various fields by putting the interests of our people at the forefront as to enable them to enjoy stability and prosperity, especially in this tumultuous era which is still marred by lingering economic and financial crises.

Last year, Indonesia and China agreed to sign and carry out a Plan of Action (POA) to implement the partnership, covering the establishment of a bilateral dialogue mechanism on technical cooperation, cooperation in international and regional affairs, and on funding arrangement.

The strategic partnership has proven to be effective in boosting our bilateral ties. China now emerges as the largest trading partner of Indonesia, while Indonesia is one of the biggest trading partners for China. Last year, the two-way trade volume stood at US$42.7 billion, a much higher increase compared to the year before (US$28.3 billion).

Having considered the continuing positive trend of our trade relations, Indonesia and China pledged to deepen economic cooperation in various fields to meet the newly-set trade target of US$80 billion by 2015. We are also eyeing the influx of people-to-people contacts, in particular in the grass roots level that is aimed at fostering a better understanding between us. Aside from these sectors, Indonesia and China also promote a more intensified cooperation on energy, disaster prevention and relief, education and cultural exchanges.

The recently concluded visit by Premier Wen Jiabao to Indonesia on April 29-30, 2011, has further solidified our bilateral ties. Both leaders emphasized the importance of promoting mutually beneficial cooperation benefitting our two peoples.

The writer is a Fletcher School of Law and Diplomacy graduate and currently serves as Ambassador of the Republic of Indonesia to the People’s Republic of China and concurrently accredited to the Republic of Mongolia. The article is an excerpt of his speech presented before the Diplomatic Briefings Series organized by the Asia Society Hong Kong, on May 18, 2011.