Banking is playing an important role in connecting Indonesian and Thai businesses seeking to expand across borders, supported by bilateral trade that reached US$17.67 billion in 2025. The role was highlighted during Thai Prime Minister H.E. Anutin Charnvirakul’s visit with his delegation to Permata Bank’s Thamrin Branch in Jakarta (04/08).

The visit was welcomed by Bangkok Bank President and Permata Bank President Commissioner Chartsiri Sophonpanich and Permata Bank President Director Meliza M. Rusli.

Permata Bank provides corporate banking, transaction banking, trade finance, treasury, and advisory services for Indonesian companies expanding regionally and Thai companies developing businesses in Indonesia.

Banking Supports Indonesia-Thailand Business Expansion

The visit also had historical significance for Bangkok Bank and Permata Bank because the Thamrin Branch is part of Bangkok Bank’s long history in Indonesia.

Bangkok Bank began operating in Indonesia in 1968 to serve Thai businesses and investors developing trade and investment activities in the country.

After Permata Bank officially joined Bangkok Bank Group, the building became a Permata Bank branch and remains a branch today. Chartsiri said this long history is an important part of the business relationship between Indonesia and Thailand.

Chartsiri also expressed appreciation to Indonesian customers who attended the visit and shared their business experiences with the Thai prime minister and delegation.

“When our customers shared their business experiences with the Prime Minister and the Thai delegation, they also strengthened the relationship between Indonesia and Thailand. Through exchanges like this, the potential of our two economies can truly be opened up,” he said in a written statement cited on August 11, 2026.

As part of Bangkok Bank Group, Permata Bank has access to a network that can support companies entering new markets. The services cover not only financing but also business needs related to regulations, market characteristics, suppliers, and potential business partners in destination countries.

Financial Connectivity Links Indonesian and Thai Businesses

The importance of financial connectivity was also discussed during the “Connecting Services for Regional Growth: Digital, Logistics, Tourism, and Finance” panel.

Meliza said financial connectivity and banking partnerships are important for companies seeking to enter markets across borders.

“To increase trade between the two countries, various elements are needed, including partnering with the right bank,” Meliza said.

According to Meliza, Permata Bank and Bangkok Bank understand their respective markets as members of the same group. This position allows both banks to support companies seeking to enter Indonesia or Thailand.

“We help customers understand local market dynamics, regulations, suppliers, and connect them with trusted business partners,” Meliza said.

The banking support also includes financing in local currencies. Companies can obtain financing in rupiah for business needs in Indonesia and baht for business activities in Thailand.

Cross-Border QR Payments Support Economic Connectivity

Digital payments are another part of the financial connectivity between Indonesia and Thailand.

Indonesia and Thailand are pioneers in implementing cross-border QR payments. Through the cross-border QR payment feature on the Permata ME application, customers can make QRIS transactions in Thailand without exchanging cash.

Meliza said the use of cross-border QR payments can still be expanded beyond tourists to support broader economic activities.

“Indonesia and Thailand are pioneers in implementing cross-border QR payments, but there is still a very large opportunity that can be developed,” she added.

She said greater awareness is needed so people understand and use the service when they are overseas.

Cross-border payments can also benefit businesses by reducing transaction costs for MSMEs and e-commerce players.

“The financial connectivity provided through cross-border QR payments will help MSMEs and e-commerce players by reducing transaction costs for these businesses,” she said.

Indonesia-Thailand Bilateral Trade Reaches US$17.67 Billion

The potential for closer cooperation is reflected in the scale of the two economies. Indonesia and Thailand had a combined population of nearly 357 million and gross domestic product of more than US$2 trillion in 2025.

Bilateral trade between Indonesia and Thailand reached US$17.67 billion in 2025.

Thai investment in Indonesia reached US$525.6 million, while Indonesian investment in Thailand stood at US$101.81 million.

The broader economic relationship was also discussed at the Indonesia-Thailand Business Forum, organized by the Indonesian Chamber of Commerce and Industry (Kadin Indonesia) and the Board of Trade of Thailand.

The forum was held on the same day as Anutin’s visit and carried the theme “Advancing the Indonesia-Thailand Strategic Partnership: Building Integrated Value Chains in Industry, Services, and the Halal Economy.”

The forum showed that cooperation between the two countries is being directed not only toward increasing trade but also toward building more integrated supply chains.

Anutin said Indonesia and Thailand, as two of ASEAN’s largest economies, have the opportunity and responsibility to become drivers of regional growth.

He said the decades-long relationship between the two countries needs to enter a new phase by strengthening trade, technology transfer, and value creation.

Anutin also highlighted food security, the halal economy, transport connectivity, financial connectivity, and energy security as sectors with potential to drive cooperation.

PHOTO: BANK PERMATA

This article was created with AI assistance.

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