EIBN Aims to Improve EU-Indonesia Business Relations

TEMPO.CO, Jakarta - The European Union-Indonesia Business Network (EIBN), a project established to support Indonesia as a lucrative market for European businesses, was launched in Jakarta on Tuesday, November 12. The EU Ambassador for Indonesia, Brunei Darussalam and ASEAN Olof Skoog, said that the EU co-funded project aims to promote Indonesia as a high-potential trade and investment destination for European countries.

"This is a crucial step to further develop the potential for trade and investment between Indonesia and EU," he added during the launch at the Intercontinental Hotel, Jakarta.

The EIBN was initiated by seven chambers of commerce in Indonesia and Europe, including BritCham, Cambra de Commerc de Barcelona, EKONID, EuroCham Indonesia, EuroChambres, IFCCI and INA. The EIBN will work closely with its Indonesian partners, the Indonesian Employers Association (APINDO), the Investment Coordinating Board (BKPM) and the Indonesian Chamber of Commerce (KADIN).

Over the next five years, together with the European Business Chamber in Indonesia (EuroCham), EIBN will conduct a variety of targeted activities, including business support services to European companies, policy research and liaise with ASEAN stakeholders for inter-regional cooperation.

"We want to ensure that all European companies can have fair and transparent access to the Indonesian market," said the Chairman of EuroCham Jakob Friis Sorensen.

The EU is currently the fourth largest trade partner of Indonesia with approximately EUR1.8 billion worth of Foreign Direct Investment (FDI) in 2012. The EU and Indonesia have set a record high of EUR25 billion worth of bilateral trade last year. However, it still falls below Indonesia’s neighboring countries such as Singapore (EUR52 billion), Malaysia (EUR35 billion) and Thailand (EUR32 billion).

AMANDA SIDDHARTA