Indonesia, Europe Expand Trade Relations Through IEBF 2024

TEMPO.CO, Jakarta – The Ministry of Foreign Affairs, through the Directorate General for American and European Affairs, held the Indonesia-Europe Business Forum (IEBF) on Monday, October 7, 2024.

The third annual business event raised the theme “Promoting Indonesia-Europe Business Collaboration Towards A More Sustainable and Equitable Economic Development.”

The forum consists of three main activities, namely Business Pitching, Business Matching, and Mini Showcase to gather Indonesian and European entrepreneurs

“For European countries, Indonesia is the strategic gateway to the Asian and Southeast Asian markets,” Vice Minister of Foreign Affairs Pahala Nugraha Mansury said in his opening speech while inaugurating IEBF, as quoted from the official website of the Ministry of Foreign Affairs.

Meanwhile, he said, European countries are important partners to Indonesia for foreign direct investment, advanced technology, capital, and markets.

The business forum signed 7 memorandum of understanding, or MoUs, or letters of interest between Indonesian and European companies. The IEBF 2024 and the Road to IEBF 2024 garnered US$11.07 billion in transactions.

As many as 122 European corporations and 123 Indonesian companies participated in the IEBF 2024. Meanwhile, 6 companies participated in business pitching while 11 institutions showcased their products and services during the mini-showcase session. 

Meanwhile, Shinta Widjaja Kamdani, the Chairperson of APINDO, said in her keynote speech 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. 

Shinta Kamdani also said that the partnership between the government and business actors through the 2024 IEBF is necessary to explore new potential, in addition to the need to pursue IEU-CEPA.

IEBF 2024 is a crucial platform to facilitate business partnerships and cooperation between Indonesia and European countries to boost trade and investment value, create new business opportunities between non-traditional countries, and expand the network of Indonesian and European entrepreneurs. 

KEMLU.GO.ID | PETIR GARDA B

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