France to Invest US$2.6 Billion in Indonesia
President Jokowi holds casual discussions with French President Francois Hollande, on the back porch of the Merdeka Palace here on March 29 – Setkab photo.
Jakarta, 01 Rajab 1438/29 March 017 (MINA) – Indonesian President Joko Widodo (Jokowi) here, Wednesday, welcomed the new commitment made by 40 French business executives who expressed interest to invest at least US$2.6 billion in several sectors, including energy, retail, and infrastructure.
“This investment intends to bolster the two countries relations, mainly in the economic sector,” Antara quoted Jokowi as saying while being accompanied by French President Francois Hollande at the Presidential Palace in Jakarta.
Jokowi added that the governments of Indonesia and France had agreed to strengthen strategic partnerships between the two countries, mainly for developing the maritime and creative economy sectors.
“Indonesia had earlier sought cooperation with France in campaigning against Illegal, Unreported, and Unregulated (IUU) Fishing, as it is an organized transnational crime,” Jokowi stated at a press conference with regard to the first historical visit made to Indonesia by a French president in the last 31 years.
Palm oil industry
On the same occasion, Jokowi also lauded the French governments efforts to halt the spread of misleading information with regard to the palm oil industry.
Sustainability has been Indonesias major concern in developing the palm oil industry, Jokowi noted.
The palm oil industry later could adopt a “Forest Law Enforcement, Governance, and Trade” license, which is already applied in the timber sector, to ensure sustainability in the production and distribution processes, the president remarked.
Hence, during his official visit, Hollande welcomed Indonesias commitment to promoting a sustainable palm oil industry and reiterated that certification of palm oil products has been made mandatory in France, as it had been regulated by the European Union.
“The certification intends to protect the consumers and producers,” Hollande emphasized.
A discussion on palm oil has been important for both nations, as the French parliament had last year planned to increase the tax on palm oil products.
The plan, which was later revoked by the French government, had sparked some protests from Indonesia and Malaysia, the worlds two largest palm oil producers.
Meanwhile, during the same meeting, the French president also reaffirmed his governments commitment to improving cooperation between the two countries in the fishing, farming, transportation, and renewable energy sectors, Hollande stated. (T/RS5/RS1)
Mi’raj Islamic News Agency (MINA)
