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Economy 1 year ago
PREMIUM
Indonesia, Russia deepen trade ties with QRIS, palm oil in focus
President Prabowo Subianto’s meeting with Russian President Vladimir Putin last week produced commitments to intensify trade, investment and industrial collaboration as part of the 75th anniversary of bilateral relations.
Opinion 1 year ago
PREMIUM
Analysis: US cites QRIS as trade barrier, but US payment model unfit for Indonesia
Indonesia’s efforts to strengthen trade ties with the United States have hit an unexpected roadblock, centered on the country’s QR code-based payment system—Quick Response Indonesia Standard (QRIS). The U.S. government has classified QRIS as a trade barrier, arguing that it has curtailed the dominance of Visa and Mastercard in Indonesia’s payment ecosystem, where both companies had expanded prior to QRIS’s launch in 2019.
Tech 1 year ago
PREMIUM
BI takes diplomatic route on US gripe over QRIS
True to form, Indonesia has taken a trade diplomacy approach in response to a report by the US Trade Representative criticizing QRIS as a foreign trade barrier, highlighting Jakarta's readiness to cooperate with Washington on the matter.
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