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Indonesia encourages more investment, palm oil recognition from Switzerland
Trade between the two countries amounted to US$2.7 billion in 2022, a 38 percent increase from the previous year. The rise in trade volume was thanks to the entry into force of the Indonesia-European Free Trade Association (EFTA) Comprehensive Economic Partnership Agreement in November 2021.
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Foreign Minister Retno LP Marsudi (right) talks with Swiss Federal Councillor Ignazio Cassis (left) during a joint press briefing after bilateral talks between the two officials in Jakarta on Aug. 2, 2023. (Courtesy of Foreign Ministry/Abi)
T
he government says it welcomes an increase in trade with Switzerland, while encouraging the European country to acknowledge Indonesia’s palm-oil certification and to invest more, including in the new Nusantara capital city.
Economic matters dominated the bilateral talks between Foreign Minister Retno LP Marsudi and Swiss Federal Councillor Ignazio Cassis in Jakarta on Wednesday.
“Your visit today provides more momentum to elevate our bilateral relations to greater heights,” Retno said in a joint press briefing after the talk.
Trade between the two countries amounted to US$2.7 billion in 2022, a 38 percent increase from the previous year. The rise in trade volume was thanks to the entry into force of the Indonesia-European Free Trade Association (EFTA) Comprehensive Economic Partnership Agreement in November 2021.
Switzerland is an EFTA member alongside Iceland, Liechtenstein and Norway.
The trade was expected to grow further by urging businesses to utilize the trade agreement and capacity-building programs, Retno said.
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