Indonesia Eyes Stronger Trade Ties with Latin America, the Carribean

    Wahyu Dwi Anggoro - 09 Oktober 2020 18:10 WIB
    Indonesia Eyes Stronger Trade Ties with Latin America, the Carribean
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    Jakarta: The Ministry of Foreign Affairs, the Ministry of Trade and the Investment Coordinating Board (BKPM) launched on Friday the 2020 Indonesia-Latin America and the Caribbean (INA-LAC) Business Forum Digital Platform to support entrepreneurs to increase exports to Latin America and the Caribbean. 

    The launch of the digital platform was carried out virtually by Deputy Minister of Foreign Affairs Mahendra Siregar and attended by Indonesian businessmen, Indonesian media and Indonesian Representatives in Latin America and the Caribbean.

    "This is an important event because we increasingly understand that all regions or countries in the world are important for economic, trade and investment relations with Indonesia," said Deputy Minister of Foreign Affairs of Indonesia in a press release on Friday.

    In 2019, the value of bilateral trade between Indonesia and the region reached US$ 7.81 billion, growing by 3 percent compared to the previous year. 

    Indonesia's main export commodities to the region include, among othes, vehicles and spare parts, paper and paper products, footwear, and industrial raw materials. 

    After the covid-19 pandemic, trade in those products is predicted to continue to increase.

    The digital platform aims to support interaction between business actors in Indonesia and Latin America and the Caribbean. Through this digital platform, various investment opportunities in various provinces in Indonesia are offered. In addition, superior export products and one-on-one business meetings are also facilitated.

    The launch of this digital platform is part of the 2020 INA-LAC Business Forum which will officially take place on November 9-11.


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