Montag, 23.10.2017 04:20 Uhr

Meeting between Italy and Indonesia

Verantwortlicher Autor: Carlo Marino Rome, 10.10.2017, 10:22 Uhr
Nachricht/Bericht: +++ Politik +++ Bericht 2585x gelesen

Rome [ENA] Italy has affirmed its strong ties with Indonesia yesterday during the visit of the Minister for Foreign Affairs of Indonesia, Mrs. Retno Marsudi, to Rome. Italy wants to boost trade, economic and cultural relation with Jakarta. The potential of expanding investments and trade is enormous. Indonesia has adopted reforms which can boost economic cooperation. With US$3 billion worth bilateral trade in 2016 Italy is

Indonesia’s third largest European Trade partner. Italy hopes to pursue greater participation of business communities, not only of big enterprises, but also of small and medium enterprises increasing economic cooperation. Indonesia, which is made up of over 13,000 islands, is looking to develop cooperation in infrastructure. Indonesia needs infrastructure to connect its islands and sea ports. Infrastructure is a top priority and Italy represents also high tech and economics. Building a climate of trust and relations with Indonesia and ASEAN countries is a necessity rather than a choice for Italy. The dynamics of Southeast Asia are fast, their relevance is impressive.

Indonesia shows and offers now two fundamental, incontrovertible and interesting qualities: stability and growth. All this is a powerful attraction for companies, institutions, experts and public opinion. The Meeting between Mr. Alfano and Mrs. Marsudi is a good platform to discuss opportunities . Italy is speeding up its determination to open trade opportunities with Indonesian businesses. Rome is in search of bringing in Indonesia more trade delegations following significant growth in Italian exports to the East Asian Country. Italian trade has grown a lot. Data show that Italy reserved US$889 million in exports to Indonesia during the first half of this year, up 3.3 percent from the same period last year.

Italy’s exports to Indonesia are likely to reach $2 billion by the end of this year, with 80 percent of it coming from selling processing machinery for the textiles industry. Italy is looking east toward the emerging markets of Asia struggling to offset the ongoing slowdown in Europe. There are also a growing number of Indonesian companies entering the Italian market. Many Indonesian investors are coming to Italy to take advantage of the current crisis. There are a lot of conglomerates exploring Italy. In an effort to upturn its bilateral trade deficit with Indonesia, Italy is positioning itself as the European partner of Indonesia's nonstop industrialization.

Italy is ready to consolidate its presence as a manufacturing giant in Indonesia while playing down the traditional associations of soccer and fashion. Italy doesn’t want to be categorized as good only for soccer and fashion. Italy is a big player in technology. In terms of investments, Italy held a limited but substantial portfolio, with the tire company Pirelli & C. SpA and oil and gas giant Eni SpA growing in Indonesia. Pirelli built a $120 million motorcycle tire plant in east Jakarta in joint-venture with PT Astra Otoparts (60% Pirelli and 40% PT Astra Otoparts) a subsidiary of Indonesia's major diversified group PT Astra International. The plant has produced 7 million tires in 2016 .

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