Jakarta (ANTARA) - Chairperson of the Indonesian Chamber of Commerce and Industry (Kadin) Arsjad Rasjid invited global businesspersons and investors attending the Indonesia-Germany Business Summit, held as part of the 2023 Hannover Messe, to invest in Indonesia's green industry.

"We are really looking forward to doing the transition to green and affordable energy for society. Hence, we invited all those present at the forum to cooperate and invest in Indonesia's new renewable energy downstreaming industry," he said here on Wednesday.

The Indonesia-Germany Business Summit aimed to strengthen global trade and investment relations, especially in the downstream industry and green technology sectors between Indonesia and Germany, and even with the European Union (EU), he added.

The summit was meant as a platform for business leaders to establish global cooperation in the green technology industry.

Rasjid said that the projected investment value in Indonesia's downstream road map until 2040 is US$545.3 billion.

This sector’s development must be supported by efforts toward environmental protection and energy transition implementation, he said.

Indonesia is targeting that by 2025, at least 23 percent of the energy produced in the country should be new and renewable energy. It is also planning to close all coal-fired power plants by 2050.

According to Rasjid, Indonesia needs to establish industrial sector cooperation not only with Germany, but also with the EU.

According to the Trade Ministry's data, the total trade between Indonesia and the EU reached US$33.2 billion in 2022. Indonesia's exports to the EU were recorded at US$21.5 billion and imports at US$11.7 billion.

"This shows that cooperation between Indonesia and the EU is well established. Now, this is the Indonesian business leaders' turn to enhance our industrial and trade cooperation with them," Rasjid said.

On a wider scope, the green industry cooperation between ASEAN and EU also needs to be increased, he added.

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Translator: Ade J, Kenzu
Editor: Azis Kurmala
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