Indonesia, Netherlands foster trade, investment ties hinh anh 1Coordinating Minister for Economic Affairs Airlangga Hartarto during the Jobs Consortium, a part of the World Economic Forum Annual Meeting in Davos, Switzerland, on May 25, 2022. (Photo: ANTARA)
Jakarta (VNA) – Cooperation in trade and investment between Indonesia and the Netherlands was intensified through a meeting between Coordinating Minister for Economic Affairs Airlangga Hartarto and Dutch Prime Minister Mark Rutte.

The meeting took place on the sidelines of the 2022 World Economic Forum Annual Meeting agenda in Davos, Switzerland, on May 25.

The Indonesian minister said the bilateral trade always shows a surplus for Indonesia. In 2020, the bilateral trade value was recorded at 3.92 billion USD, with national exports reaching 3.11 billion USD and imports valued at 804.3 million USD.

The Netherlands is Indonesia's 11th-largest export destination. During the 2016-2021 period, the Netherlands was recorded as the fifth largest investor of a total of 157 countries investing in Indonesia. The investment value was recorded at 9.68 billion USD, or 5.43 percent of the total foreign investment.

The two nations had also inked an MoU on Cooperation in Sustainable Production of Palm Oil in 2019 and a Technical Arrangement in 2020 and the NI-SCOPS Implementation Plan that was agreed on April 24, 2020.

The minister also called for improving cooperation in the semiconductor sector and progress in investment of Dutch companies in Indonesia, such as Unilever in the oleochemical sector in the Sei Mangkei special economic area, Philips in the medical sector, and construction of the Frisian Flag factory in Cikarang.

Prime Minister Rutte expects that the investment process for the business expansion of Dutch companies would be made easier through structural reforms that would promote effectiveness and efficiency in the licensing process in Indonesia./.