France may become gateway for Indonesia`s products to Europe

France may become gateway for Indonesia`s products to Europe

Minister Airlangga Hartarto. (ANTARA News/PR of Industrial Ministry)

The two countries need to enhance economic cooperation to balance their trade and investment."
Jakarta (ANTARA News) - Indonesia is considering turning France into a gateway for its products to non-traditional markets in Europe, Industry Minister Airlangga Hartarto said.

"France has a dynamic industry and is one of the most competitive nations in the world," he said, while receiving French Ambassador to Indonesia Jean-Charles Berthonnet at his office recently.

France is also ranked second, third and fourth for chemical industries, food industries and in the information and telecommunication industries in Europe, he said in a press statement released.

The minister added that Indonesia should look into the possibility of turning France into a gateway for its products to Europe through cooperation in the industrial sector, standardization efforts, and exchanging information on non-tariff measures, as part of efforts to penetrate the market.

France is also Indonesias important partner in terms of trade relations, which contribute to its industrial and economic growth, he said.

"The two countries need to enhance economic cooperation to balance their trade and investment," he said.

In 2015, Indonesia imported US$1.3 billion worth of goods from France, while its exports to France were valued at US$972 million.

Indonesias imports from France included aircraft components, vehicles, electronic machines and milk and pharmaceutical products, while its exports to France were made up of electronic machinery, footwear, rubber, rubber products, furniture, clothing and accessories, coffee, tea and spices.

Data from the Indonesian Investment Coordinating Board (BKPM) show Frances investment in Indonesia between 2011 and 2016 reached US$771.2 million in 783 projects.

The projects include 174 projects worth US$323.7 million in the manufacturing sector.

Indonesia is also a hub for products manufactured by French company Schneider Electric for Southeast Asia.

(Reported by Sella Panduarsa Gareta/Uu.S012/INE/KR-BSR/B003)

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