Indonesian, Bulgarian chambers ink MoU to intensify trade

Indonesian, Bulgarian chambers ink MoU to intensify trade

The Indonesian Chamber of Commerce and Industry (Kadin) signed a memorandum of understanding (MoU) with the Bulgarian Chamber of Commerce and Industry (BCCI). ANTARA/HO-Kadin Indonesia)

Jakarta (ANTARA) - The Indonesian Chamber of Commerce and Industry (Kadin) inked a memorandum of understanding (MoU) with the Bulgarian Chamber of Commerce and Industry (BCCI) to encourage trade by opening market access to East Europe and Balkans.

"We have, until now, only focused on conventional markets, such as Western Europe and the United States. In fact, other countries, such as the Eastern European and Balkan countries, are a potential market for Indonesian products," Chief of the Kadin Bilateral Committee for Eastern European countries Alexander Yahya Datuk noted in a press statement released on Tuesday.

Through the effort, Kadin may set a precedence to open ways for businessmen of both nations and is willing to facilitate business activities in future, he noted.

Chief of the Kadin Permanent Committee for Europe Tony Wenas and President of BCCI Tsvetan Simeonov signed the MoU on the sidelines of the Indonesia-Bulgaria Business Forum held in Sofia on Monday (Sept 16).

Indonesian Foreign Minister Retno Marsudi and Bulgarian Economic Minister Emil Karanikolov bore witness to the inking of the MoU.

Wenas stated that Indonesian businessmen were highly prepared to boost trade with Bulgaria.

"We invite Bulgaria to invest in Indonesia, while simultaneously, Indonesia can invest in Bulgaria to facilitate close, two-way relations," he stated.

The Trade Ministry’s data indicated that trade between both nations had reached US$497 million in 2018, as compared to $115 million a year earlier.

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