Jakarta, October 17, 2018. On October 11, 2018 in Bali on the sidelines of the IMF-World Bank Annual Meeting, Indonesia and Singapore signed a Bilateral Investment Treaty (BIT) to protect Singapore’s investments that will come into Indonesia. This is because, along with the signing of the BIT Indonesia-Singapore, they also signed MoU on Investment Cooperation related to investment in several sectors such as Industry 4.0, tourism, financial technology, and education.
We, the Indonesian Civil Society, urge the Government of Indonesia not to ratify the Bilateral Investment Treaty with Singapore because the signing of the agreement threatens the state’s sovereignty. We also demand that the Government of Indonesia to expose the transparency text of the agreement and involve the public at large in the decision-making process both in government institutions and legislative institutions.