Indonesia International Business Promotion Conference was held in Guangzhou on Thursday, in a bid to enhance bilateral exchanges as well as explore business opportunities.

"The cooperation between Indonesia and Guangdong enjoys a solid foundation and strong economic complementarity. In 2020, the trade volume between Guangdong and Indonesia exceeded 110 billion yuan. In the first three quarters of 2021, trade between Guangdong and Indonesia increased by 35.54% year-on-year", aaccording to Fan Xinlin, vice president of CCPIT Guangdong Committee. He added that the event would help bilateral enterprises seize cooperation and development opportunities as the Regional Comprehensive Economic Partnership Agreement (RCEP) will soon take effect.

In the future, the Guangdong Committee will encourage Guangdong enterprises to participate in constructing highways, ports, telecommunications, energy, and smart cities in Indonesia and get deep involved in Indonesian’s efforts to build a "Global Maritime Fulcrum".

While continuing to deepen cooperation in agriculture, mining, processing, and shipbuilding, the Guangdong Committee will also focus on cutting-edge technology such as marine engineering equipment, biomedicine, new materials, new energy, and so on to explore new opportunities. RCEP will bring several economic and trade exchanges to create trade opportunities and expand two-way trade in agricultural products, food and beverage, chemicals, plastics, bags and leather goods, furniture, and toys.

Indonesian Ambassador to China Djauhari Oratmangun said that Indonesia has a massive market of 272 million people and the largest economy among ASEAN countries. Indonesia attaches particular importance to its economic and trade cooperation with China. Starting from September 6, 2021, the Bank of Indonesia and the People's Bank of China officially launched the China-Indonesia Local Currency Settlement (LCS) cooperation framework, which will help expand the use of local currency in economic and trade exchanges thus promote bilateral trade and investment.

At the event, CCPIT Guangdong Committee signed a cooperation agreement with the China-Indonesia Chamber of Commerce by which aims to further cooperation between Guangdong and RCEP countries in various fields.

The event was co-hosted by the China Council for the Promotion of International Trade (CCPIT) Guangdong Committee and Consulate General of the Republic of Indonesia Guangzhou. More than 300 government officials, executives of financial institutions, representatives of business associations, entrepreneurs, and media representatives attended the conference.

Author | Jiang Chang (Intern)

Editor | Keane, Jerry