Books IDR 1.2 Trillion Trade Cooperation, INA-LAC 2021 Opens The Doors Of RI Free Trade With Latin America

Indonesian Minister of Foreign Affairs Retno Marsudi at the launch of the INA-ACCESS digital platform. (Indonesian Ministry of Foreign Affairs)

JAKARTA - Indonesia has succeeded in recording the value of trade cooperation reaching USD 87.96 million, through the 2021 Indonesia-Latin America and Caribbean Business Forum (INA-LAC) activities.

Held for two days on October 14-15, this hybrid activity was attended by around 2,815 participants from Indonesia as well as Latin American and Caribbean countries. The event was held to enhance economic cooperation.

"This year's business forum agreed to establish the INA-LAC Business Network, a forum for establishing business networks, dialogue and cooperation between Indonesian business sectors and Latin America and the Caribbean," explained Director General of America-Europe at the Ministry of Foreign Affairs I Gede Ngurag Swajaya in his statement after the closing, Friday 15 October.

He further explained, to support economic diplomacy, Indonesian Foreign Minister Retno Marsudi launched the INA-ACCESS digital platform. This platform is a new digital media that is the main instrument of Indonesia's economic diplomacy in the fields of trade, investment and tourism.

Opening of INA-LAC 2021. (Indonesian Ministry of Foreign Affairs)

"And at the same time as a search engine-based e-catalogue that is oriented to the creation of big data. Currently, INA ACCESS displays 4,344 ready-to-export products. In addition, there are 133 ready-to-offer Indonesian investment projects from 11 sectors that we curated together with the Bank. Indonesia and the Ministry of Investment / BKPM, as well as several leading tourism destinations in Indonesia," he explained.

He added that in addition to successfully recording the value of trade cooperation of 87.96 million US dollars, or around Rp. 1,235,692,866,000. INA-LAC 2021 also opens the door for free trade discussions with Mercusor, a regional organization of countries in Latin America.

"Brazil, representing the Mercusor regional organization which also consists of Argentina, Uruguay and Paraguay, expressed readiness to start free trade negotiations with Indonesia," he said.

"Mercosur considers Indonesia as an important partner, and the free trade agreement with Indonesia is considered to have a positive impact on the people of both parties," he concluded.