09 Nov 2022
The Indonesian Chamber of Commerce and Industry (KADIN) and the Swiss Global Enterprise signed a Memorandum of Understanding to strengthen the partnership between Indonesian and Swiss business associations. The goal of the partnership is to promote bilateral trade and investment opportunities, as well as improve commercial relations and industries.
The MoU was signed by KADIN Chairman Arsjad Rasjid and Switzerland Global Enterprise Chairwoman Ruth Metzler-Arnold on November 8, 2022 at Menara KADIN Indonesia. The signing ceremony marks a significant step in the efforts to strengthen the relationship between the two countries' business communities.
Representatives from both Indonesia and Switzerland were also present at the MoU signing ceremony, including Deputy Chairperson of the Coordinating Maritime, Investment and Foreign Affairs Shinta W. Kamdani and Deputy Chairperson of KADIN for International Relations Bernardino Vega from Indonesia, and Swiss Ambassador to Indonesia Kurt Kunz, Deputy Head of Mission of the Swiss Embassy Phillipe Strub, and Head of Swiss Business Hub Indonesia Roger Zbinden from Switzerland.
During the ceremony, KADIN Chairman Arsjad Rasjid highlighted the significance of the MoU in strengthening cooperation and improving supporting services for investment projects. Specifically, he emphasized the need for better data and information provision for infrastructure projects.
The MoU between the Indonesian Chamber of Commerce and Industry (KADIN) and the Swiss Global Enterprise includes provisions for the exchange of information on specific industrial sectors. This will ensure that goods and products meet the necessary standards and regulations in each country.
KADIN Chairman Arsjad Rasjid also emphasized that KADIN is committed to helping Swiss companies find local partners and access the market in Indonesia. Through these efforts, the organization hopes to facilitate cooperation in the trade sector and properly realize the potential for partnership between the two countries.
Strong Economic Partnership
Indonesia and Switzerland have a strong economic partnership, as evidenced by the 150 Swiss companies currently operating in Indonesia and providing employment for around 50,000 workers. This reflects the close economic cooperation between the two countries.
In 2020, Indonesia exported $2.6 billion worth of goods to Switzerland, including gold, jewelry, and precious metals. At the same time, Indonesia imported $726 million worth of goods from Switzerland, primarily explosive ammunition, navigation equipment, and military weapons. The continued trade between the two countries demonstrates the strength of this partnership.
In May, KADIN signed several MoUs during a visit to Davos. These included a bilateral investment agreement between the Indonesian and Swiss governments to accelerate and protect Swiss investment in Indonesia, an MoU between KADIN and Economiesuisse on sustainability and trade, an MoU between KADIN and Innosuise on capacity building and innovation, and an agreement with the Indonesian Diaspora in Switzerland to form the Indonesia Trading House.
These MoUs further strengthen the economic partnership between Indonesia and Switzerland and demonstrate a commitment to cooperation in various areas.