RI-Swiss Agrees To Maximize Economic Cooperation Through Indonesia-EFTA CEPA

Foreign Minister Sugiono received Swiss Ambassador Olivier Zehnder. (Source: Indonesian Ministry of Foreign Affairs)

JAKARTA - Indonesia and Switzerland have agreed to maximize economic cooperation by utilizing the Indonesia-European Free Trade Association Comprehensive Economic Partnership Agreement (Indonesia-EFTA CEPA), said the Indonesian Ministry of Foreign Affairs.

It was agreed when the Indonesian Minister of Foreign Affairs Sugiono received an honorary visit from the Swiss Ambassador to Indonesia Olivier Zehnder at the Indonesian Ministry of Foreign Affairs, Jakarta.

During the meeting, the two parties discussed steps to increase cooperation in various fields that were Switzerland's advantage, namely vocational education, research, and cooperative development, the ministry said in a statement, Tuesday, May 20.

The two countries also agreed to maximize economic, trade and investment cooperation by utilizing the Indonesia-EFTA CEPA scheme, with Switzerland as the largest EFTA partner for Indonesia.

It is known, apart from Switzerland, EFTA consists of Iceland, Liechtenstein, and Norway.

On that occasion, the Indonesian Foreign Minister and the Swiss Ambassador conveyed their commitment to strengthen collaboration in realizing Indonesia's food security.

The Indonesia-Switzerland Investment Improvement and Protection Agreement is also a useful legal umbrella for increasing Swiss investment cooperation in Indonesia.

Last year, the total trade value between Indonesia and Switzerland reached around US$2.3 billion, with Indonesia's main export commodities including jewelry, precious metals and footwear.

Meanwhile, Switzerland is known as one of the leading European investors in Indonesia, especially in the pharmaceutical industry and the food industry sector.

In addition, the two countries continue to strive to expand economic opportunities through their various cooperation mechanisms.