Inp.polri.go.id - Jakarta.  Since the enactment of the Indonesia-European Free Trade Association Comprehensive Economic Partnership Agreement (IE-EFTA CEPA) in November 2021, trade between Indonesia and Switzerland has surged threefold. 

In 2023 alone, bilateral trade hit Rp3.11 billion US dollars (approximately Rp50.31 trillion), yielding a surplus of over 2 billion US dollars for Indonesia, according to data from the Indonesian Embassy in Bern.

"For Indonesia, Switzerland, and the countries within the EFTA, they are the first CEPA partners in Europe, while Indonesia is the first EFTA partner in ASEAN," said the Indonesian Ambassador to Switzerland and Liechtenstein, Ngurah Swajaya, in a statement on Saturday (27/4/2024)..

The EFTA nations are Norway, Liechtenstein, and Iceland. 

Crucial meetings, such as the 10th Joint Economic Trade and Commission (JETC) in Bern and The Third Annual Meeting of the Swiss-Indonesia Trade and Sustainability Council in Zurich, have solidified economic collaboration, Ambassador Ngurah said. 

Discussions ranged from extending development cooperation to enhancing SMEs' access and investment diversification, according to antaranews.com.

The imminent Bilateral Investment Agreement (P4M), slated for 2024, aims to bolster cooperation. Despite global economic challenges, Indonesia-Switzerland trade witnessed a 24.32% increase in 2023, with Swiss investments in Indonesia rising by 12.17%.

(mg/inp/pr/nm)