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Indonesia, Switzerland sign bilateral investment treaty
The Swiss government and the Indonesian Investment Coordinating Board (BKPM) have signed an investment promotion and protection agreement (P4M) to boost trade and investment between the two countries.
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Investment Minister Bahlil Lahadalia and Swiss Federal Councillor Guy Parmelin during the bilateral investment agreement signing ceremony in Davos, Switzerland, on May 25, 2022. (BKPM/BKPM)
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ndonesia and Switzerland have signed an investment promotion and protection agreement (P4M) to boost trade and investment between the two countries.
The scope of the P4M, which took seven rounds of negotiations to conclude, includes guarantees on several issues, including non-discriminatory treatment, freedom to transfer or repatriate and options to solve disputes through international arbitration.
Investment Minister Bahlil Lahadalia said the agreement was made to boost investments in both countries by providing legal protection and business certainty for Indonesian and Swiss investors.
Read also: Indonesia, Switzerland sign MoU on trade, investment
“We hope this collaboration will increase Indonesia’s competitiveness in attracting investment from Switzerland to priority sectors in Indonesia and open opportunities for national businesses to invest in Switzerland as well,” he said at the signing ceremony, which took place at the World Economic Forum (WEF) Annual Meeting 2022 in Davos, Switzerland, on Tuesday.
Last year, Switzerland was Indonesia’s 10th largest foreign investor with an investment value of US$599.8 million from 281 projects in various sectors, including food and beverages, chemicals and pharmaceuticals, and forestry and fisheries, according to Investment Ministry data.
“We hope that this cooperation can be well established and produce a positive impact for both parties,” said Swiss Federal Councillor Guy Parmelin during the ceremony.
