Indonesian Chamber of Commerce and Swissmem Sign MoU to Strengthen Bilateral Ties

19 Jan 2023

The Indonesian Chambers of Commerce and Industry (KADIN) and Swissmem have signed a Memorandum of Understanding (MoU) to strengthen the bilateral relationship between their respective business associations. The MoU aims to promote trade and investment opportunities, increase commercial and industrial relations, and deepen economic cooperation between Indonesia and Switzerland.

One key element of the MoU is the facilitation of delegation visits between the two countries. This includes ensuring the smooth, efficient and effective execution of such visits so that both sides can exchange their respective written positions, declarations, and statements. The MoU also outlines the creation of a KADIN Business Desk, which will provide prospective Swissmem members with the information and guidance they need when conducting business in Indonesia.

Another key element is the preparation of specific industry sector information and materials. Both sides will work together to provide each other with guidance on the regulatory and technical requirements for putting certain goods and products on the market in their respective countries.

The MoU also emphasizes the support of joint events, such as meetings, seminars, and conferences, in order to expand and deepen economic cooperation. Additionally, both parties will work together on investment mapping, aiming to identify the best opportunities for business and strategic collaboration.

Finally, the MoU outlines the provision of general information on training and development efforts, with the goal of facilitating access to these resources for both sides. The Indonesian CCI Switzerland and Liechtenstein Committee will be the contact point for the Indonesian side, while the Person responsible for Indonesia, designated by the CEO of Swissmem, will act as the contact point on the Swiss side.

The MoU will remain in effect for 10 years, with the possibility of amendment or extension upon mutual consent. It was signed on January 19, 2023 in Davos, Switzerland by Vice Chairman Coordinator of KADIN Indonesia, Yukki Nugrahawan Hanafi, and Member of the Executive Board of Swissmem, Adrian Vogel. This MoU represents a significant step forward in strengthening the bilateral relationship between Indonesia and Switzerland and will help to drive economic growth and prosperity for both nations.