Indonesia should be gateway for Europe to Asian markets: Deputy FM

Jakarta (ANTARA) – Indonesia has the potential to be a strategic gateway for European countries to access the Asian market, according to Deputy Foreign Minister Pahala Mansury for the 2024 Indonesia-European Business Forum (IEBF).

Presenting his remarks during the 2024 IEBF opening here on Monday, Mansury stated that Indonesia has signed free-trade agreements with the ASEAN, the G7 group, Australia, Japan, South Korea, Pakistan, India, China, and Hong Kong.

“Those present opportunities for European countries to expand their markets with Indonesia serving as their strategic hub,” Mansury remarked.

The deputy minister highlighted technology and information, green and blue economy, tourism and creative economy, health, and manufacturing as sectors for cooperation that Indonesia should forge further with Europe.

Indonesia is ready to partner with and serve as a manufacturing center alternative for Europe, he noted, adding that it will also help Indonesia to develop itself as a trusted trade and manufacturing hub for European companies.

Related news: Indonesia seeks green economy cooperation with European countries

At the press briefing later that day, Mansury revealed that the transaction value recorded at the 2024 IEBF totaled US$11 billion. He said the large transaction reflected concrete results for efforts to forge cooperation between Indonesia and European companies.

A total of six memoranda of understanding (MoU) between Indonesian and European companies were also inked during the 2024 IEBF.

The 2024 IEBF was organized under the “Promoting Indonesia-Europe Business Collaboration Towards a More Sustainable and Equitable Economic Development” theme.

Meanwhile, the 2024 Indonesia-South and Central Asia Business Forum (INASCA), taking place on the same day as the 2024 IEBF, recorded a total transaction value of US$8.3 billion.

Related news: RI to host business forum with South, Central Asian nations

Translator: Cindy Frishanti O, Nabil Ihsan
Editor: Yuni Arisandy Sinaga
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