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Foreign, Finance Ministries sign MoU on economic diplomacy
One goal of the MoU between the Foreign Ministry and Finance Ministry is to help small and medium enterprises (SMEs) reach a wider global market.
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Foreign Minister Retno LP Marsudi (left) and Finance Minister Sri Mulyani Indrawati show on Aug. 15, 2023, a signed memorandum of understanding (MoU) between the two ministries on economic diplomacy, in Jakarta. (-/Courtesy of Indonesian Foreign Ministry)
T
he Foreign Ministry and Finance Ministry have agreed to collaborate on strengthening the country’s economic diplomacy, Indonesia’s distinct brand of diplomacy under President Joko “Jokowi” Widodo.
Foreign Minister Retno LP Marsudi and her Finance Ministry counterpart Sri Mulyani Indrawati signed on Monday a memorandum of understanding (MoU) on economic diplomacy in Jakarta.
“The Finance Ministry has the resources, capacity and data in financial matters. Meanwhile, the Foreign Ministry has the diplomatic infrastructure and international network,” Retno said in a statement on Monday. “We should work side-by-side to complete each other by joining forces.”
Both ministries expected the MoU to help bring the real benefits of economic diplomacy to the people, including by encouraging small and medium enterprises (SMEs) to reach the global market.
“We understand that President Jokowi understands that SMEs are the backbone of the Indonesian economy. With this MoU, the government will strengthen policies that will help SMEs penetrate new markets,” Retno said.
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The MoU, Sri Mulyani said, would also serve as a breakthrough to enhance the capacities of state-owned enterprises (SOEs) and SMEs amid uncertainties in the global market.
