Friday, February 23, 2024

Foreign Ministry holds Indonesia-Europe and Latin American business forum

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Gusty da Costa

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Businesspeople from Europe and Indonesia agreed to strengthen trade and investment cooperation. This commitment is reflected in the signing of 8 (eight) Memorandums of Understanding/ Letters of Intent on business cooperation in various sectors during the opening ceremony of the Indonesia-Europe Business Forum (IEBF), on October 17, 2023, at the Ritz Carlton Hotel in Jakarta. Tourism industry and creative economy sectors, as well as renewable energy, are among the areas of cooperation.

IEBF brings together 138 business people from 33 European nations to meet over 250 Indonesian counterparts. IEBF will also hold 100 business meetings for two days. The event is organized by the Indonesian Ministry of Foreign Affairs to amplify trade and investment relations with the European continent.

“Europe is Indonesia’s strategic partner and holds much potential for mutually beneficial business collaboration,” said Pahala Mansury, Vice-Minister of Foreign Affairs of the Republic of Indonesia, in his remarks at the IEBF’s opening.

This year’s IEBF, said Mansury will focus on five key sectors, namely machinery and electronics, health infrastructure,creative industry, energy transition, and digital economy.

Meanwhile, the Acting Chairman of the Indonesian Chamber of Commerce and Industry, Yukki Nugrahawan Hanafi, in his speech said “Europe provides us with technological expertise and manufacturing capabilities to foster economic growth and innovation in Indonesia”.

IEBF also provided business pitching opportunities to 9 (nine) Indonesian private and state-owned companies to promote their company profiles before an audience of representatives, investors, businessmen, Chambers of Commerce and Industry, associations, and organizations from European countries. Among those pitching companies are KEK Singhasari, Indonesia Battery Corporation, PLN Nusantara Power, and Melchor Group.

Furthermore, a book entitled “Road to Germany: Study of the Economic Potential and Risks”, the result of a collaboration between the Indonesian Embassy in Berlin and Indonesian Eximbank was also launched during this event.

IEBF is supported by KADIN Indonesia and is the amalgamation of two events, INA-Europe and INA-CEE forums which were held in the previous years.

IEBF will be held annually to encourage the development of trade and investment value, as well as exploring the potential business deals between Indonesia and European countries.

INA-LAC 

The Ministry of Foreign Affairs also organized  the Indonesian-Latin America and Caribbean  Business Forum 2023 from October 16 to October 17,2023 . Initiated in 2019, the INA-LAC Business Forum has successfully strengthened business connectivity between Indonesia and the Latin American and Caribbean region through the facilitation of business meetings that result in concrete transactions and investments. 

“Last year, the INA-LAC Business Forum 2022 had various positive results. Attended by around 500 participants, with transaction figures worth USD 16.57 million and potential transactions of up to USD 162.48 million,” explained Indonesian Deputy Minister of Foreign Affairs, Pahala Mansury, in his opening remarks. 

Furthermore, the Deputy Minister of Foreign Affairs said that INA-LAC consistently strengthens the partnership between the two regions, especially interaction and connectivity between business people, in accordance with the theme “Forging an Effective Partnership.”

As a concrete form of strengthening relations, the Deputy Foreign Minister proposed the establishment of the INA-LAC Forum which consists of three pillars: Economic, Socio-Cultural, and Strategic Issues focusing on various important aspects of relations between the two regions such as food security, critical minerals, climate change, and trade discrimination.

Furthermore, to intensify business interactions and strengthen the presence of the INA-LAC Business Forum in the Amlatkar region, the Deputy Minister also announced that the INA-LAC Business Forum 2024 will be held in Lima, Peru, utilising the momentum of the APEC Summit. 

In addition to the Deputy Minister of Foreign Affairs, INA-LAC 2023 was also opened by the INA-LAC 2023 Guest of Honour, Mexican Minister of Agriculture Victor Villalobos, and KADIN Indonesia’s Coordinator for Maritime Affairs, Investment, and Foreign Affairs, Shinta W. Kamdani. During the opening, there was also the signing of the MoU of cooperation between KADIN Indonesia and the Mexican Chamber of Commerce (COMCE), as well as the submission of the MoU of cooperation between BPOM and the Federal Commission for the Protection of Sanitation Risks of Mexico (COFEPRIS) which was circularly signed by BPOM.

Encouraging strengthening collaboration

The INA-LAC Business Forum 2023 focuses on three main sectors: furniture/home decor, automotive parts, and healthcare products. Activities include business matching, business pitching, pane

At the opening of INA-LAC 2023, a “Cooking with Ambassadors” video programme was launched involving Indonesian government representatives and Ambassadors of Amlatkar countries with the aim of promoting Indonesian spices and cuisine through the creation of culinary creations from both regions. 

More than just sharing recipes, the programme, which is part of “Indonesia Spice Up The World”, explores how Indonesia and Latin America can connect through culture and cuisine. The programme is in collaboration with the Ministry of Cooperatives and SMEs as well as an introduction to Indonesian MSMEs.

l discussions, and The 2nd Assembly of the INA-LAC Business Network which will be held on 17 October. 

47 business people from 11 countries in Latin America and the Caribbean will participate in the INA-LAC Business Forum 2023 directly. In addition, the event will also be attended by Indonesian entrepreneurs, government representatives, academics, and business associations.

INA-LAC 2023 will also facilitate collaboration and networking of business institutions in both regions through The 2nd Assembly of the INA-LAC Business Network. This is a forum for cooperation between KADIN Indonesia and business associations from Latin America and the Caribbean that was established in 2021. 

In addition, to discuss global challenges relevant to both regions, there will be panel discussions themed “Fostering Food Security and Long-term Sustainability” and “Post-Pandemic Logistics Solutions.”

Gusty da Costa

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