Indonesia-Switzerland discuss collaboration in strategic areas

Jakarta (ANTARA) - Coordinating Minister for Economic Affairs Airlangga Hartarto held a bilateral meeting with Swiss Federal Councilor and Minister of Trade Guy Parmelin, inviting Switzerland to collaborate with Indonesia in strategic areas.

During their meeting in Paris on Tuesday (June 3), the two top officials discussed bilateral cooperation agendas, including trade and investment, employment cooperation, and support for Indonesia's accession to the Organization for Economic Cooperation and Development (OECD).

"The total trade between Indonesia and Switzerland in 2024 was recorded at US$2.33 billion. Indonesian exports to Switzerland were recorded at US$1.5 billion, with imports of US$800 million," Hartarto noted in a statement on Wednesday.

Meanwhile, Swiss investment in Indonesia in 2024 totaled US$244.9 million, representing a 63.22 percent increase compared to the previous year.

This investment accounted for 0.41 percent of Indonesia's total Foreign Direct Investment (FDI) in 2024.

According to the statement, around 150 Swiss companies are operating in Indonesia, while 11 businesses in Switzerland are run by members of the Indonesian diaspora.

To further strengthen relations between both nations, Hartarto encouraged strengthening cooperation and expansion into strategic sectors.

"The Indonesian government appreciates Switzerland for holding the 10th Meeting of the Joint Economic and Trade Commission (JETC) in Bern on April 23, 2024. We invite Switzerland to collaborate in strategic areas such as investment in technology-based and low-carbon industries, health, and the digital economy," Hartarto stated.

In addition, he highlighted Indonesia's plan to enhance the use of the Indonesia-EFTA CEPA, including collaboration on vocational education and professional development.

Regarding OECD accession, he noted that Indonesia has successfully submitted its Initial Memorandum (IM), a significant milestone in the accession process.

"Indonesia appreciates Switzerland's support in opening the accession discussion and during the accession process. We hope Switzerland will continue to provide support for Indonesia's accession, including through technical cooperation and sharing of experiences," the minister remarked.