Inp.polri.go.id – Greece. The Ambassador of the Republic of Indonesia, H.E. Mr. Bebeb A.K. Nugraha Djundjunan, officially inaugurated the Indonesian-Hellenic Business Forum (IHBF) on 21/3 in a hybrid format. Initiated by the Embassy of Indonesia in Athens, the IHBF serves as a platform to facilitate Indonesian and Greek business communities to build a network of communication, sharing experiences and lesson-learned, as well as to initiate beneficial cooperation for the strengthening of bilateral trade relations, investment, tourism, and other business and economic affairs. Further, the IHBF will operate autonomously and/or facilitate the role of Indonesian and Greek chambers of commerce and industry in the future.
In his remarks, Ambassador Djundjunan elaborated on rooms of business opportunities to enhance economic cooperation between Indonesia and Greece considering the two's geostrategic location and their similar characteristic as maritime countries, as well as the growing bilateral trade in the past 5 years. In 2022 for example, the bilateral trade between Indonesia and Greece reached USD 421.5 million, up to 33.72% compared with 2019 values of USD 315.2 million (pre-COVID).
With more than 270 million population, Indonesia is a potential market for Greek top commodities, while Greece on the other hand serves as a potential hub for Indonesian products to access the markets of the Balkan, East Mediterranean, and Southern Europe region. Ambassador Djundjunan also emphasized the growth potential of the Greek market for Indonesian commodities, such as palm oil, tissue, paper, motorcycle spare parts, as well as coal.
On his part, the Secretary of the Coordinating Ministry of Maritime and Investment Affairs of Indonesia, H.E. Mr. Ayodhia G.L. Kalake informed the Indonesian economic growth of up to 5.31% in 2022, as well as its FDI values of up to 47% in the same period. Moreover, Secretary Kalake invited Greek business communities to invest in Indonesia through a Public-Private-Partnership scheme with numerous incentives, among others tax holidays, tax allowance, VAT exemption, the release of import duty, and at the same time offered Strategic Integrated Port Network projects, Indonesian Sea Tolls projects, and Special Economic Zones (SEZ).
Representing Indonesia Investment Authority (INA), Mr. Darwin Cyril Noerhadi, charted priority sectors for investment from infrastructure and logistics (toll roads, seaports, airports, cold storage, warehouses), green energy & transformation (waste management, geothermal, energy transition, green fund), digitalization, health service, property and tourism, financial services, agriculture, mining, construction, and electronics.
Both speakers underlined the role of Indonesia as the regional economic powerhouse and favorable investment, economic, and business center in the future.
The launching event was highly appreciated by 70 Greek and Indonesian participants representing more than 50 companies. Mr. Zisis Poulios representing Violar S.A. also had the opportunity to share his experience and best practices for establishing business cooperation in the field of cotton and textile with his partners in Jakarta, Bandung, and Solo whom he valued as professional and trustworthy partners.
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