Indonesia, Belgium agree to enhance economic cooperation

Indonesia and Belgium have agreed to intensify economic cooperation, particularly in the fields of trade and investment.

Both nations reached the agreement during a meeting between Indonesian President Joko Widodo (Jokowi) and Princess Astrid of Belgium at the Merdeka Palace here on Tuesday.

Princess Astrid is in Indonesia to lead a 300-strong Belgian business delegation from March 12 to 19. The business delegates are representing 127 companies.

The companies are engaged in the fields of construction, infrastructure, energy, clean technology, communication and information technology, food and beverage, financial services, transportation, logistics, marketing, and education.

Speaking to the press after accompanying President Jokowi at the meeting, Foreign Minister Retno L.P. Marsudi stated that Belgium is Indonesias key partner in terms of trade and investment.

“For instance, in 2015, Indonesia-Belgium bilateral trade reached US$1.67 billion, while (Belgian) investment (in Indonesia) reached more than US$7 million,” she noted.

Until now, some two thousand Belgian companies have been operating in Indonesia, she remarked.

At the meeting, President Jokowi briefed the Belgian business delegation on the governments efforts to make the economy more open and competitive.

“The president touched on the 10 economic policy packages that the Indonesian government has issued so far. One of the packages deals with the Negative List of Investment,” she added.