Jakarta, MINA – The Indonesian Ministry of Foreign Affairs together with the Ministry of Trade and the Investment Coordinating Board launched the 2020 Indonesia-Latin America and Caribbean Business Forum (INA-LAC) Digital Platform to support entrepreneurs to increase exports to Latin America and the Caribbean.
The launch of the digital platform was carried out virtually by the Deputy Minister of Foreign Affairs and attended by Indonesian businessmen, Indonesian media and Indonesian Representatives in Latin America and the Caribbean on Friday.
“This is an important event, because we increasingly understand that on the one hand all regions or countries in the world are important for economic, trade and investment relations with Indonesia,” said Deputy Minister of Foreign Affairs of Indonesia, Mahendra Siregar.
Mahendra said that the potential for the Latin America and Caribbean region is very large considering the large population with export potential of up to US$1 trillion.
As one of Indonesia’s trading partners, in 2019, the value of bilateral trade reached US$ 7.81 billion or grew by 3 percent compared to 2018.
Likewise, the export value increased from USD 4.06 billion to US$ 4.55 billion.
Indonesia’s main export commodities to the region include vehicles and spare parts, paper and paper products, footwear, and industrial raw materials. After the COVID-19 pandemic, trade in related products is predicted to continue to increase, so that it can boost Indonesia’s exports.
The digital platform launched is an economic diplomacy initiative by the Ministry of Foreign Affairs which is a forum for interaction between business actors in Indonesia and Latin America and the Caribbean.
Various investment opportunities for Indonesia in various provinces are offered, superior export products and one-on-one business meetings are facilitated through this digital platform.
The launch of the digital platform is the beginning of a series of activities for the INA-LAC 2020 Business Forum which will be carried out on a hybrid basis from 9-11 November 2020.
The INA-LAC 2020 Business Forum is a continuation of similar activities in 2019 which have attracted the interest of business players in both Latin America and the Caribbean region. (L/RE1)
Mi’raj News Agency (MINA)