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ndonesian business players running small and medium enterprises (SMEs) are looking to seize the chance to expand their businesses with support from larger firms that will act as both partners and investors.

Legiman Arya, the owner of Gajah Sungging Carving, is among a group of small and medium business owners who are keen to secure such opportunities through the signing of cooperation agreements with a number of local and foreign companies on Monday.

Through its agreement, Legiman’s company, located in the Central Java city of Jepara, will work with Teak Heirlooms, an Indian furniture company based in Chennai, which will assist and facilitate the former in marketing and distributing its handmade wooden furniture and statues in India. Under the agreement, worth Rp 18 billion (US$1.3 million), Teak Heirlooms will also invest in the company to help them fulfill the demand of the Indian market.

“Of course, this greatly helps us. We’re a local company and we need help in distributing our products overseas. With this cooperation, we hope to maximize our exports to India,” Legiman told The Jakarta Post after signing the agreement at the Office of the Coordinating Economics Minister on Monday.

Although the agreement is valid for one year, Legiman said he hoped to continue working with Teak Heirlooms even after the arrangement expired as he expected demand for wooden products in India would continue to grow.

Teak Heirlooms owner Peter Lewis said there was high demand for Gajah Sungging Carving’s products in India, in Chennai as well as Mumbai. In addition to India, however, Teak Heirlooms will also distribute the products to other countries.

“We will also introduce [Gajah Sungging Carving] to other countries such as Fiji and Seychelles, because there is a lot of demand for wooden products from other countries as well,” Peter told the Post at the event.

Other companies that signed similar cooperation agreements on Monday include PT Kencana Agri and Louise Dreyfus Commodities, which signed an agreement on crude palm oil supply with an investment of $215 million per year; CV Tigamadhiatama and PT Basant Dhara International that signed agreements on coffee supply and a cafe franchise with investments of $1 million per year and $30,000 per year, respectively.

Further, PT Prima Pangan Madani is set to cooperate with Afrindo Business International on tuna and a powdered fruit drink exports with a value of $6 million per year; and PT Asia Pacific Fortuna Sari and PT Surabaya Indah Permai will cooperate in wet tissue production with an investment of $400,000 per year. PT Anugerah Karya Megah and PT Pongs Indonesia will cooperate in manufacturing home textile products with an investment of Rp 5 billion per year

Investment Trade Coordinating Board (BKPM) chairman Franky Sibarani, who witnessed the signing ceremony, said the agreements were aimed at connecting the businesses involved.

“The cooperation arrangements vary from exports to supply chain and procurement. This is a way to make ends meet by cooperation between firms,” he said.