Indonesia is a big and influential economic player due to its vast geographical region and demography, Fox noted after the ministerial series event in Jakarta, Thursday.
"Indonesia is a fast-growing vibrant economy. If some of the predictions are right, it will easily be among the top 10 by 2030," he remarked.
Due to Indonesias key position in the ASEAN region, Fox pointed out that the British government intends to strengthen bilateral relationship between the two countries.
"We want to forge a partnership with the ASEAN region, and this is not possible without partnering with Indonesia, which is considered to be an absolutely key element," he noted.
Secretary Fox, who is visiting Indonesia for the first time, said he is looking to hold a discussion with the Indonesian government to explore potential areas of cooperation, including in the investment and trade sectors.
"We can look at building a bilateral relationship in the areas of investment and trade that is long term and strategic, and Indonesia is perhaps a country that has not received much attention from the UK as it should have had in the past, and it is something we would want to do," he reiterated.
Secretary Foxs visit to Indonesia provides an opportunity to push his governments agenda for free trade and strengthen the economic links between both nations.
It is also part of a wider trip to Southeast Asia that is aimed at demonstrating the UKs commitment to strengthening trade relations with Indonesia and updating influential stakeholders about Brexit, following the trigger of Article 50.
The secretary is scheduled to meet Coordinating Minister for Economic Affairs Darmin Nasution, the Indonesian Chambers of Commerce, as well as businesses from Indonesia and the UK.
During the visit, he will also observe the Light Rail Transit project to highlight the support of British firms to the Asian Games 2018.