RI Aims to Increase Trade with Richest Country in the World

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LUXEMBOURG, thepresidentpost.com – To explore the economic, trade and investment potentials of RI-Luxembourg, the Indonesian Embassy in Brussels organized an outreach event titled “Strengthening Indonesian Diplomacy: Enhancing Trade and Investment and Follow-Up of Luxembourg Foreign Affairs Minister’s Visit to Indonesia” on July 25-26 in Luxembourg.

The agenda of the two-day event include the meetings of Indonesian Ambassador with the Director of Politics of the Foreign Affairs Ministry of Luxembourg Jean Olinger (equivalent to Director General in Indonesia) and with Indonesian Society as well as a visit to the financial services provider company of Fernbach APAC and a Business Luncheon with business community and stakeholders.

In a meeting with Jean Olinger, both agreed to intensify the RI-Luxembourg relations in economy, trade and investment as well as people-to-people contacts. In the meeting, the Luxembourg offered a green bond scheme launched by Luxembourg in 2016 to be explored further to finance the development of sustainable palm oil industry in Indonesia.

On July 26, 2017, the Business Luncheon entitled “Doing Business in Indonesia: Trade and Investment Opportunities,” became the highlight the Ambassador’s visit to Luxembourg. Performed as speakers at the event were Head of Indonesia Investment Promotion Center (IIPC) of London Chapter Nurul Ichwan and Bank Indonesia representative of London Office Fitria Irwi Triswati. The luncheon was attended by business people from Luxembourg and relevant stakeholders such as representatives from KADIN (Indonesian Chambers and Commerce), Finance Ministry, and Foreign Affairs Ministry of Luxembourg.

The bilateral trade of Indonesia – Luxembourg in January-July 2016 reached US$38.94 million, an increase from the same period in 2015 amounted to US$28.7 million. As one of the world’s largest banking centers, the realization of Luxembourg’s investments in Indonesia reaches US$66.65 million for 37 projects in 2015. As one of the richest countries in the world with US$57.8 billion GDP (2015) and per capita GDP of US$105,829.05 (2016), Luxembourg is the world’s financial center and the second largest global investment turnover center after the United States. (KML/TPP)