The Indonesia-Europe Business Forum (IEBF) 2024, held on Monday, October 7, 2024, produced seven memorandums of understanding (MoUs)/Letter of Intent (LoIs) on cooperation between Indonesian and European companies with a total transaction value of US$11.07 billion (Rp174 billion).
IEBF 2024 is a platform to facilitate business partnerships between Indonesia and European countries, with the aim of increasing trade and investment value, exploring cooperation opportunities, and strengthening collaboration between the Indonesian and European business sectors.
Europe is one of the sources of investment and technology in supporting Indonesia’s efforts to increase industrial and downstream industry capacity, implement sustainability, and advance creativity and innovation.
Countries in the European region, especially the European Union, are Indonesia’s development partners and potential investors for the implementation of the transition to a green economy and the development of strategic cooperation such as infrastructure and critical technology.
“For European countries, Indonesia is a strategic gateway to markets in Asia and Southeast Asia. On the other hand, European countries are important partners for Foreign Direct Investment (FDI) as well as access to advanced technology, capital, and markets,” Pahala Nugraha Mansury, Deputy Minister of Foreign Affairs, said in his IEBF opening speech, at the Shang-Ri La Hotel, Jakarta, Monday, October 7, 2024.
Shinta Widjaja Kamdani, Chairperson of the Indonesian Entrepreneurs Association (APINDO), said in her speech said that Europe is a strategic partner in Indonesia’s economic development.
“Through this IEBF forum, Indonesia and Europe can further expand and deepen trade and investment relations,” she said.
She also said that the partnership established between the government and business actors through the IEBF 2024 activity is very important to explore new potential, in addition to the need to pursue I-EU-CEPA.
Besides trade, the Indonesian government also highlights the great opportunities in investment cooperation, which allows for the integration of the Indonesian and European economies.
The IEBF 2024 also facilitates business matching in meetings with Indonesian entrepreneurs. In addition, the IEBF also provides an opportunity to promote business from various sectors such as animation, health, and tech.
A number of companies were present, such as AINAKI, Jejakin, Kecilin.id, PT Dami Sariwarna, Assemblr, ASPAKI, and Nusantara, as well as several national industrial parks.
A total of 6 companies have participated in business pitching and 11 institutions have displayed their products and services in the mini showcase. It was recorded that 122 European companies and 123 Indonesian companies attended and participated in the series of IEBF 2024 activities including business matching.
