INA-LAC forum has revived economic cooperation amid pandemic: official

INA-LAC forum has revived economic cooperation amid pandemic: official

Director general for American and European Affairs at the Foreign Ministry, I Gede Ngurah Swajaya. (ANTARA/Yashinta Difa/sh)

As conveyed by President Joko Widodo, we need to start economic recovery without putting at risk public safety and health.
Jakarta (ANTARA) - The Indonesia-Latin America and the Caribbean (INA-LAC) Business Forum has demonstrated that economic activities can run simultaneously with COVID-19 handling, according to the director general for American and European Affairs at the Foreign Ministry.

“As conveyed by President Joko Widodo, we need to start economic recovery without putting at risk public safety and health,” I Gede Ngurah Swajaya said at the closing ceremony of the forum here on Wednesday.

The hybrid event, which was conducted in both offline and online formats from November 9-11, 2020, was attended by more than 500 businesspersons from Indonesia, Latin America, and the Caribbean.

Through the use of technology, about 36 one-on-one business meetings could be facilitated effectively and resulted in concrete cooperation, Swajaya informed.

The second INA-LAC forum booked total transactions of US$71.2 million (Rp1 trillion) and potential business worth US$14.3 million (about Rp201 billion) from one-to-one business meetings, he added.

"Total transactions agreed to in the INA-LAC business forum have doubled compared to last year's event," he said.

Interactions between Indonesian businessmen and their partners in Latin America and the Caribbean were supported by digital platforms, with no time and geographical boundaries, he remarked.

At least 146 Indonesian companies and 80 Latin American and Caribbean companies used the INA-LAC website to promote their products and interact with their partners at the forum, he informed.

The Indonesian government also used the platform to showcase 108 investment projects covering 10 sectors in 11 provinces across the country to attract investors from Latin America and the Caribbean.

"This is the benefit of our digital platform. This digital platform will continue to be developed, hence business interaction could run more effectively and efficiently," Swajaya said.

"Working from home is not a problem for you to interact in business," he added.

The economic cooperation between Indonesia and the regions in future will be strengthened with the planned establishment of a chamber of trade and investment; further negotiation on trade deals that include PTA, FTA, and CEPA; and business trips, he informed.

The initiatives are supported by countries in Latin America and the Caribbean, which, according to the Ambassador of Chile, Gustavo Ayares, are seeking new partners for exports.  

Related news: Strengthen trade ties with Latin America, minister urges businessmen
Related news: INA-LAC business forum posts agreements worth US$71.02 mln


 

 

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