INALAC 2024 Book Transactions Of IDR 16.2 Trillion: There Are Spice Manufacturers To N-219 Aircraft

The 2024 INALAC event in Peru. (Source: Indonesian Ministry of Foreign Affairs)

JAKARTA - Indonesia-Latin America and the Caribbean (INALIAC) Business Forum, the first large-scale business forum organized by the Indonesian Ministry of Foreign Affairs in Latin America and the Caribbean (Amlatkar) officially closed on Friday by posting transactions of IDR 16.2 trillion.

The forum business, which was held on September 11-13, was closed by the Director-General of America and Europe of the Indonesian Ministry of Foreign Affairs Umar Hadi. The total transactions recorded were 1,048,208,209 US dollars or around Rp. 16.2 trillion.

"The number of business transactions achieved during the 2024 INALAC Business Forum has increased dramatically by 157 percent compared to last year," said Ambassador Umar Hadi, in a statement from the Indonesian Ministry of Foreign Affairs, Saturday, September 14.

Director General Umar Hadi is proud of what has been initiated by the Ministry of Foreign Affairs in diversifying the market for Indonesia's leading export products in the Latin American and Caribbean markets has yielded concrete and significant results.

He further explained that sectors that contributed a lot of business transactions were automotive, motor vehicle spare parts, energy, crude palm oil (CPO) and its derivatives, wood products, as well as food and beverages.

"The large number of business transactions and the large number of entrepreneurs present from Indonesia and the Latin America and Caribbean regions in this business forum show that the geographical distance factor as an obstacle is just a myth," he explained.

One of the Indonesian companies participating in the INALAC Business Forum, which is engaged in the sale of spice products, namely the Scale Group, has even managed to sign 5 purchase contracts at once from 4 Peru companies and 1 from Argentina.

"This INALAC Business Forum in Peru is a tremendous investment because it offers quality business networks and gets high-level support from the Government", said Orlando Victorson, president director of the Scale Group.

Another positive result was recorded by PT DI/IPTN North America.

"PT DI/IPTN has successfully signed cooperation with Peru, Chile and Ecuador to market N-219 aircraft products in the Amlatkar area," explained Gautama Indra Djaja, president of IPTN North America based in Seattle, United States.

At least 56 Indonesian companies, large-scale and Micro, Small and Medium Enterprises (MSMEs) as well as the Ministry of Investment/BKPM as well as universities plus hundreds of companies from Peru and Amlatkar regions, namely Argentina, Brazil, Columbia, Chile, Suriname, Uruguay, and Uruguay, attended this event.

During the INALAAC Business Forum in Peru, 17 agreed Memorandum of Understanding (MoU) was recorded in order to facilitate business partnerships between companies from Indonesia and Amlatkar.

Director General Umar Hadi added that in this forum various forms of business matching activities were also carried out, business matching, business pitching, strengthening business networks and CEO Talks.

In particular, a discussion forum was also held that featured the role and contribution of young people, both professionals and academics, in helping strengthen the partnership between Indonesia and Amlatkar.

It is known, the INALAC Business Forum is a big event held annually since 2019 by the Indonesian Ministry of Foreign Affairs in collaboration with the Chamber of Commerce and Industry (KADIN), to facilitate trade and investment cooperation between Indonesian business actors and their partners from the Amlatkar area.