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RI, Belgium aim for new heights in trade, investment
Indonesia and Belgium pledged to continue improving economic ties, particularly in trade and investment, after President Joko âJokowiâ Widodo held a courtesy-call meeting with Princess Astrid of Belgium on Tuesday at the State Palace
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ndonesia and Belgium pledged to continue improving economic ties, particularly in trade and investment, after President Joko 'Jokowi' Widodo held a courtesy-call meeting with Princess Astrid of Belgium on Tuesday at the State Palace.
Astrid, the younger sister of Belgian monarch King Philippe, is in Indonesia leading her country's largest-ever economic mission, featuring numerous representatives from 127 Belgian companies, in a week-long visit.
'We met because Belgium is one of Indonesia's most important partners in trade and investment,' Foreign Minister Retno LP Marsudi told a press conference after the meeting.
Retno said the President also told the visiting delegation about Indonesia's recent efforts to simplify business regulations. The President highlighted the government's 10th economic stimulus package that promised to open up several key sectors to foreign investment.
Belgium is Indonesia's eighth-largest European trading partner, with a total two-way trade volume reaching US$1.67 billion last year. Up to $132.9 million in investment from Belgium was realized between 2010 and 2015, making the country the 27th largest source of foreign direct investment in Indonesia. Meanwhile, Indonesia is the 38th largest supplier of imports to Belgium.
During the meeting, Jokowi also expressed his hope for improved Indonesia-Belgium bilateral ties and later invited Belgian investors to increase their investment in areas related to infrastructure, telecommunications, the film industry and pharmaceuticals.
Astrid's visit, which is focused on exploring business opportunities across several sectors that are deemed important for Indonesia's economic development, namely maritime affairs, food security, agriculture, technology, sustainable energy and city planning, is expected to result in dozens of new memorandums of understanding (MoUs) in various sectors, including in the trade, tourism and clean energy sectors.
The last Belgian business delegation was led by then prince Philippe, now the country's king, in 2008.
Investment Coordinating Board (BKPM) chairman Franky Sibarani, who also accompanied Jokowi at the meeting, expressed his commitment to follow up on the meeting by providing Belgian investors with assistance and reliable information related to Indonesia's business climate.
Franky thought the meeting emphasized the significance of the Belgian government's support for the existing investments of some 2,000 Belgian companies in Indonesia, saying that 'I believe what we need is to bring new investment into the country.'
According to Franky, some of the businesspeople have shown their intention to invest in the wind-power sector.
The meeting also discussed a plan for Indonesia to become the guest country for the 2017 Europalia International Art Festival, which will be held throughout Belgium and in some European countries.
Among Astrid's entourage are Belgian Secretary of State for Foreign Trade, Pieter de Crem, and the general manager of Europalia, Kristine De Mulder.
Astrid met with Vice President Jusuf Kalla on Monday, while members of the delegation have also met with several Indonesian officials, including Coordinating Economic Minister Darmin Nasution and Trade Minister Thomas Lembong, to discuss the potential of Belgian-Indonesian economic ties.
