Wahyu Dwi Anggoro
IDXChannel - Switzerland is one of Indonesia’s important economic partners in Europe and its largest partner in European Free Trade Associatio (EFTA).
"It is also one of the largest European investors in Indonesia," said Foreign Minister Retno Marsudi after a bilateral meeting with Swiss top diplomat Ignazio Cassis in Jakarta on Wednesday (2/8/2023).
During the meeting, the two ministers discussed several issues, including trade, investment and sustainable development.
"Our bilateral trade managed to bounce back to USD 2,7 billion last year, a 38% increase from 2021," she stated.
"The entry into force of the Indonesia-EFTA CEPA since November 2021 has contributed to this positive trend," she added.
To sustain their trade growth, the two sides identified several initiatives, including by engaging all business stakeholders to utilize the Indonesia-EFTA CEPA and prioritizing capacity-building programs on Rules of Origin and SPS standards.
"I asked Councilor Cassis that Indonesia would like to see the recognition of ISPO-certification to facilitate Indonesia’s palm oil to enter the EFTA market," she revealed.
On investment partnership. Switzerland is Indonesia’s second largest European investor in 2021. To further boost investment partnership, Retno underlined the importance to ensure the Bilateral Investment Treaty can be ratified within this year.
"This Treaty will provide legal protection and business certainty for our investors," she explained.
