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Kadin secures US$875 million from German firms
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President Joko “Jokowi” Widodo walks the red carpet shortly after landing in Berlin, Germany, for a work visit on Sunday evening local time. (Courtesy of the Presidential Office/Laily)
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he Chamber of Commerce and Industry (Kadin) Indonesia has inked a total investment commitment worth US$875 million between Indonesian and German firms, in conjunction with President Joko “Jokowi” Widodo’s visit to Europe on April 17 to 22.
Comprised of a cooperation between German miner Ferrostahl Cronimet and state-owned miner Antam worth US$800 million, an agreement between state-owned ship operator Pelni and the major German shipyard operator Myer Werft worth $40 million, and an agreement between Indonesia’s leading manufacturer in the paper and pulp industry April and Inova Semiconductors GmbH, a fabless semiconductor manufacturer headquartered in Munich, Germany worth US$35 million, according to Kadin chairman Rosan Perkasa Roeslani, the commitments were confirmed with a series of Memorandum of Understanding (MoU) signings.
“The MoU signing is a real contribution to the development of the national economy," said Rosan in a press statement on Monday, the first day of a visit to Berlin, Germany.
Kadin Indonesia deputy chairman of International relations Shinta Widjaja Kamdani said Kadin had invited several business delegates from various sectors such as energy, industry, maritime, agribusiness, and telecommunications to join the President’s European delegation.
“This is a very important event aimed opening Indonesia up to new investment, as well as to accelerate the finalization of trade cooperation under the framework of CEPA [Comprehensive Economic Partnership Agreement] with the European Union, which is due to be completed within the next two years," she said.
During the six day visit, the President is scheduled to visit Germany, the UK, Belgium and the Netherlands accompanied by a group of Kadin members, led by Rosan.
In Brussels, the President plans to talk with European Council President Donald Tusk and European Commission President Jean Claude Juncker regarding CEPA progress. IE-CEPA was initiated in 2010.
Previously, discussion of the scoping paper had been postponed due to Indonesia’s change in government. An intensive discussion in Brussels on April 4-5, 2016, allowed both sides to bridge many of the issues that could have hindered the completion of the scoping paper. (ags)
