Indonesia, Netherlands foster trade, investment ties
Cooperation in trade and investment between Indonesia and the Netherlands was intensified through a meeting between Coordinating Minister for Economic Affairs Airlangga Hartarto and Dutch Prime Minister Mark Rutte.
Coordinating Minister for Economic Affairs Airlangga Hartarto during the Jobs Consortium, a part of the World Economic Forum Annual Meeting in Davos, Switzerland, on May 25, 2022. (Photo: ANTARA)
Jakarta (VNA) – Cooperation in trade andinvestment between Indonesia and the Netherlands was intensified through ameeting between Coordinating Minister for Economic Affairs Airlangga Hartartoand Dutch Prime Minister Mark Rutte.
The meeting took place on the sidelines of the 2022World Economic Forum Annual Meeting agenda in Davos, Switzerland, on May 25.
The Indonesian minister said the bilateral trade always shows asurplus for Indonesia. In 2020, the bilateral trade value was recorded at 3.92billion USD, with national exports reaching 3.11 billion USD and imports valuedat 804.3 million USD.
The Netherlands is Indonesia's 11th-largest exportdestination. During the 2016-2021 period, the Netherlands was recorded as thefifth largest investor of a total of 157 countries investing in Indonesia. Theinvestment value was recorded at 9.68 billion USD, or 5.43 percent of the totalforeign investment.
The two nations had also inked an MoU on Cooperationin Sustainable Production of Palm Oil in 2019 and a Technical Arrangement in2020 and the NI-SCOPS Implementation Plan that was agreed on April 24, 2020.
The minister also called for improving cooperation inthe semiconductor sector and progress in investment of Dutch companies inIndonesia, such as Unilever in the oleochemical sector in the Sei Mangkeispecial economic area, Philips in the medical sector, and construction of theFrisian Flag factory in Cikarang.
Prime Minister Rutte expects that the investmentprocess for the business expansion of Dutch companies would be made easierthrough structural reforms that would promote effectiveness and efficiency inthe licensing process in Indonesia./.
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
Coordinating Minister for Economic Affairs Airlangga Hartarto during the Jobs Consortium, a part of the World Economic Forum Annual Meeting in Davos, Switzerland, on May 25, 2022. (Photo: ANTARA) 
