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Indonesian, Brazilian business communities sign MoUs potentially worth $2.65 billion
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Representatives of Embraer and PT Dirgantara Indonesia (PTDI) sign a memorandum of understanding (MoU) to foster collaboration in commercial aviation. (Courtesy of/Embraer)
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delegation of Indonesian business groups signed five memorandums of understanding (MoUs) with Brazilian counterparts at the Indonesia-Brazil Business Forum in Rio de Janeiro on Sunday, which if they are seen through as outlined, could be worth a combined US$2.65 billion.
President Prabowo Subianto opened the forum by highlighting Indonesia’s focus on renewable energy and industrial downstreaming, emphasizing the country’s ambition to reduce reliance on fossil fuels and expand its industrial base.
“Brazil has progressed significantly in its industries, while Indonesia is catching up through industrialization. I am confident we can create synergy and foster mutually beneficial relations,” said Prabowo, as quoted in a statement.
The agreements were inked in a meeting held at the Copacabana Palace Hotel, ahead of the Group of 20 Summit, which was attended by 58 representatives from Brazilian businesses, associations and economic institutions.
Brazilian companies such as ABCZ, Latam, Agropalma, Alvoa and Bioenergy participated in the forum, bisnis.com reported.
State-owned PT Dirgantara Indonesia (PTDI) and Brazilian aerospace giant Embraer signed an MoU to conduct joint studies to evaluate partnership opportunities in commercial aviation, in areas such as engineering and the supply of aerostructures.
“We look forward to developing this collaboration and tapping on Embraer’s 55 years of expertise and knowledge, which will boost our capabilities, particularly in the commercial aviation sector,” said PT Dirgantara Indonesia president director Gita Amperiawan in a separate statement.
