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Tag: Indonesia

  • Vietnam’s Coffee sales slow, Indonesian premiums rise

    Vietnam’s Coffee sales slow, Indonesian premiums rise

    Vietnam’s coffee premiums held steady, with farmers slowing sales on concerns over dry weather affecting output, while domestic buying and thin stocks in Indonesia helped to raise outright prices, traders said on Thursday.

    The dry season in Vietnam, the world’s top robusta producer, is peaking, with water shortages forecast to cut 2016/2017 output. Rival producer Indonesia has low stocks, which has helped to push up export price quotations to a 15-month high.

    “Most activities are focused on domestic markets, where exporters in short position have to raise their buying prices to secure beans,” said a trader in Ho Chi Minh City.

    Domestic prices in Daklak, Vietnam’s biggest growing province, advanced to 31.1 million-31.4 million dong ($1,400) per tonne, tracking gains in the ICE robusta futures.

    At 31.4 million dong, the price is on par with that on Feb. 6, according to data.

    Premiums of Vietnamese robusta grade 2, 5 percent black and broken were stable at $50-$70 a tonne to the May ICE contract in the past week. Beans grade 1, similar to Indonesia’s Sumatran coffee, were steady at premiums of $95-$110 a tonne.

    ICE May robusta coffee settled up 0.9 percent at $1,420 per tonne on Wednesday.

    As dry weather intensifies in Vietnam’s Central Highlands coffee belt, underground water might sustain trees only until the end of this month, traders said.

    The current El Nino weather event is likely to delay the usual arrival of the rainy season by 10-15 days.

    The government has announced financial aid worth $23.5 million to help 34 provinces fight drought and salination, it said in a statement on Wednesday.

    About 40 of Vietnam’s 63 provinces have now been affected by the dry weather.

    In Indonesia, premiums rose to $300-$320 a tonne for beans grade 4, 80 defects COFID-G4-USD to the ICE May contract, from a premiums of $300 last Thursday, due to thin stocks, traders said.

    At $320 a tonne, the premium is the highest since at least December 2014, according to data available on Reuters.

    “Prices were good and went up because there was support from Java factories, while there were little stocks,” a Lampung-based trader said, adding that purchases by small traders also supported prices.

    Indonesia’s main harvest will pick up from late this month.

    Indonesia’s coffee bean production is targeted to increase by up to 27 percent to 700,000 tonnes in 2016, a manager at the country’s coffee association said on Thursday, up from 550,000 tonnes in 2015.

  • Indonesia’s Emtek, Murdoch invest in Malaysia’s

    Indonesia’s Emtek, Murdoch invest in Malaysia’s

    iFlix CEO Mark Britt shows his company’s streaming TV series and video service on a gadget. The Malaysia-based company has just received a capital injection from Indonesia’s Emtek and Rupert Murdoch’s Sky plc., the owner of national TV stations SCTV and Indosiar, has spread its wings by investing in Malaysia’s streaming movies and TV series provider iFlix.

    Along with European investor Sky plc, owned by mogul Rupert Murdoch, Emtek through PT Surya Citra Media has become a new investor in iFlix. Sky said it has injected $45 million into the company.

    “The investment will support our continuing commitment to providing our members with the best in entertainment,” said iFlix CEO and co-founder Mark Britt in Kuala Lumpur on Thursday.

    Providing a service similar to Netflix’s, iFlix is available in Malaysia, Thailand and the Philippines. Indonesia is likely to be the company’s next market for expansion.

    In April 2015, iFlix got a $30 million injection from Malaysia’s Catcha Group and Philippine Long Distance Telephone Company (PLDT). PLDT is owned by Indonesian tycoon Anthony Salim and his family through Hong Kong-based First Pacific Finance.

    Sariaatmadja family, who owns Emtek, is known to have tight business relations with the Salim family. It can be seen from the share ownership-swap deal between Sariaatmaja’s London Sumatera Plantations (Lonsum) and Salim’s Indosiar Visual Mandiri (Indosiar TV).

    Salim bought Lonsum from Sariaatmadja in 2007 through plantation company PT Salim Ivomas Pratama In 2011, Sariaatmadja bought Indosiar through PT Surya Citra Media.

    It strengthened both families in their core business. Salim is prominent in the consumer goods business, mainly with Indofood, while Sariaatmadja is strong in the media business.

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  • Indonesia Offers Investment in Film Industry to China

    Indonesia Offers Investment in Film Industry to China

    Indonesia has offered an investment opportunity in the film industry to China with regard to developing national film industry.

    “We are offering 100 percent foreign ownership to support creative industry in Indonesia,” the head of Investment Coordinating Body (BKPM), Franky Sibarani, said at an Indonesia Business Forum on Thursday.

    He said Indonesia has the fourth biggest population in the world or 250 million population but the number of cinemas in the country totals only 1,100.

    The Indonesian government has revised the list of sectors not allowed for foreign investment and has opened investment opportunity of up to 100 percent foreign ownership in the film industry.

    The decision covers film making, distribution and exhibition or cinemas.

    When asked about interesting parties Franky said so far only South Korea that has expressed its interest while the US still has yet to study the policy.

    Regarding 100 percent foreign ownership he said that although foreign investment opportunity has been opened 100 percent “there is a provision requiring foreign parties to prioritize up to 60 percent national films. It would be better if our films could be exported.”

    Franky said Indonesian film industry must develop more professionally including in their making and distribution so that they can compete with foreign films.

    “We need investors to advance national film industry until it can export,” he said.

    Chinese film industry is growing quite well with the box office last year increasing 36 percent to US$4.77 billion supported by ticket sales for both domestic and Hollywood films.

    According to figures released on January 1 by the State Administration for Press, Publication, Radio, Film and Television Affairs (SAPPRFT) local film production raked US$2.6 billion in 2014.

    Although it has contributed successes in terms of production Chinese film production drops.

    In 2014 China produced 618 films down from 638 in 2013. From overseas sales their contribution has also declined collecting only US$304 billion last year.

    Critics have blamed tight censorship on films considered sensitive politically for reducing the worlds interest in local films.

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  • Behind the glitz and glamour is where Indonesia can shine, says Anchanto CEO

    Behind the glitz and glamour is where Indonesia can shine, says Anchanto CEO

    As the startup industry in Southeast Asia develops, we become increasingly familiar with fast changes and daily happenings that continually make the news. It seems that every new day brings with it a flashy new tech startup, else a venture investment that makes your salary seem like nothing at all.

    However, we often forget that these companies and investor monies are highly dependent on the other not-so-flashy modes of business, such as those that Anchanto’s CEO Vaibhav Dabhade, fully embrace. Set to share his views on Echelon Indonesia 2016’s Steer stage panel this April, Dabhade wants to empower Indonesia’s E-commerce roadmap, bringing the logistics lowdown back into the tech space.

    Logistics and entrepreneurship are deeply embedded into Dabhade’s life and family history. He regards his grandfather, who started a logistics business for trucks in central India in 1945, as a huge influence. Today, Dabhade has taken two generations of logistics experience and learning and brought this into a new, digital era.

    He co-founded Anchanto in 2011 out of a belief that e-commerce logistics and fulfilment can be made seamless through technology and the right platform. In his role as Chief Executive Officer, Dabhade oversees Anchanto’s regional business and heads company strategy. This includes management of marketing, sales, product, talent acquisition and regional market expansion.

    Dabhade holds an executive education from Harvard Business School and IIM as well as qualifications in Electronics & Telecommunication Engineering. He also spends his spare time dreaming about being a painter and excels at graphic design and arts.

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  • New Rule for Foreign Internet Data and Content Providers

    New Rule for Foreign Internet Data and Content Providers

    The rapid development of the digital world has encouraged internet data and content providers to expand their business to developing countries like Indonesia. The problem is that Indonesia is not prepared for this development. Although there are almost 100 million internet users in Indonesia, this business is not adequately regulated.

    Today, internet data and content providers can run their businesses in Indonesia without having to establish a legal business entity in the country. Telecom operators, meanwhile, have to invest significant amounts developing the network infrastructure used by these ‘over the top’ (OTT) companies.

    Minister of communications and informatics, Rudiantara, said that regulations are to be put in force to govern the presence of foreign OTTs in Indonesia. “They will have to be permanent legal entities in Indonesia,” said Rudiantara, Jakarta, Friday (11/3).

    The government believes that consumer protection, equality before the law in tax matters, and properly handling of customer complaints are three reasons that these companies need to have a presence in Indonesia.

    Under current rules, collecting taxes from foreign OTT companies, which are not registered in Indonesia, is difficult. Meanwhile, the telecom firms that provide internet services that are vital to the running of the OTT business in Indonesia, pay substantial amounts of tax to the government.

    Data from the Ministry of Communications and Informatics revealed that the value of digital advertising, a major source of revenue for OTT firms in Indonesia, was more than US$ 800 million a year ago. “Two major global firms account for seventy percent of digital ads,” he added.

    While Rudiantara admitted that setting up a permanent business entity in Indonesia is not easy, the government will make it easier by offering three options: setting up a business entity individually, entering into a joint venture with other companies, or partnering with a mobile operator in the country.

    The new rules, which are expected to be passed early next month, aim to benefit the Indonesian people as users of OTT services. “Indonesia is not just a market; the people of Indonesia should benefit from this, too,” said Rudiantara.

  • Indonesia Wins Award in Berlin Travel Fair

    Indonesia Wins Award in Berlin Travel Fair

    Berlin (Antara)- Indonesias pavilion featuring a Phinisi tall ship, Indonesia legendary seafaring icon, has won the Best Exhibitor Award for the Asian, Australian and Oceania region in the Internationale Tourismus-Bourse (ITB) Berlin held in Messe Berlin, Germany, on March 9-13, 2016.

    Tourism Minister Arief Yahya here, Saturday evening, said he was proud that Indonesias pavilion won the award in the worlds largest travel fair.

    Indonesia presented a very colorful pavilion featuring the Phinisi with a beautiful view of Raja Ampat waters and small isles as its background.

    The booth accommodated 101 tourism-related sellers, a coffee corner offering free coffee testers to the fairs visitors, a silhouette artist, and several dancers and two models wearing “unbelievable costumes” from Malang Carnival.

    Visitors to the Indonesian pavilion measuring 693 m2, were entertained and served by German-speaking officers.

    “We are proud that Indonesias pavilion has won the best exhibition award for the Asian, Australian, and Oceania region,” Nia Niscaya of the Indonesian tourism ministry, said.

    Earlier, Wonderful Indonesia tourism branding also won awards respectively in Los Angeles, and Victoria, Hong Kong.

    Hernowo Muliawan of the PCO Karma Wibangga design team, also expressed his happiness that the booth that he and his team team had designed came out as a winner in the ITB Berlin.

    The booths design featuring Phinisi introduced Indonesia as major maritime tourist destination having over 17 islands, interesting coastal culture and arts, and amazing maritime natural resources.

    Last year, Indonesias pavilion also won a similar award at the 2015 ITB Berlin.

    This year, over 10 thousand exhibitors from 187 countries

    showcased the latest products and trends related to the global tourism industry at 1,069 stands.

    In 2013, Indonesia was the ITBs official partner country, and had the privilege of being the host of the opening ceremony.

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  • Electricity sales grows 10.41 pct

    Electricity sales grows 10.41 pct

    State-own electricity company (PLN) recorded a power sale of 16.52 tera watt hours (TWh) in February 2016, up 10.41 percent compared with that in the same month in 2015.

    PLN Commercial Division Head Benny Marbun said in Jakarta on Sunday that the February sale maintained the relatively high upward trend in January 2016.

    “Hopefully, the increase in the electricity sale indicates the recovery of the Indonesian economy,” Marbun said.

    He said that the January-February 2016 sale amounted to 34.09 TWh, up 8.91 percent compared with the same period in 2015 (year-on-year).

    In January 2016, the power sale reached a growth of 7.54 percent from that in January 2015. “The January 2016 figure is higher than the monthly figures during 2015. There is no monthly increase which exceeded five percent in 2015,” he added.

    Electricity sale in 2015 stood at 202 TWh or up only 2.2 percent compared with that in the previous year in 2014 which was 194 TWh.

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  • Korean investors to venture in sea transport business in Indonesia

    Korean investors to venture in sea transport business in Indonesia

    An investor from South Korea wants to invest US$80 million in shipping business in Indonesia, the Capital Investment Coordinating Board (BKPM) said.

    The unnamed investor is especially interested in operating liquefied natural gas (LNG) tankers, BKPM chief Franky Sibarani said.

    The Korean investor hoped to operate two LNG tankers in the country, Franky, who visited South Korea recently, said here on Saturday.

    The Korean investor also opened the possibility of building terminal for gas storage, he said.

    He said the prospective investor plans to visit the county to look for local partner to operate the business.

    “We are not only interested in the size of investment but more important is the added value created by the investment,” he said.

    The investor also indicated interest in President Joko Widodos vision of developing sea toll, he said.

    “The program is seen as positive in contribution to the countrys development in general,” he added.

    He said South Korea is one of the countries actively increasing investment in Indonesia.

    South Korean investment implemented in 2015 alone reached Rp15.1 trillion in 2,329 projects. From 2010 to 2015, Korean investment in the country totaled Rp79.6 trillion.

    “In the past five years, South Korea has continued to rank among five largest investors in the country,” her added.

    Korean investment commitments were worth US$4.6 billion in 2015 or an increase of 86 percent from 2014.

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  • Indonesia International Furniture Expo Targets US$350 Million

    Indonesia International Furniture Expo Targets US$350 Million

    The Indonesian Rattan Furniture and Craft Association (AMKRI) has set a target for the 2016 Indonesia International Furniture Expo (Ifex), held in Jakarta on April 11-14, 2016 with a theme of “The Essence of Infinite Innovation”, to attract 10,000 visitors with a total transaction value of US$350 million.

    “We also set a target to achieve a follow up transaction value of US$1 billion,” AMKRI chairman Rudi Halim told us on Saturday, March 12, 2016.

    Last year, the international furniture expo managed to attract 8,595 visitors with an on-the-spot transaction value of US$270 million and a follow up transaction value of US$700 million.

    The furniture industry has an important role for the national economic growth, since the transaction value of this sector is quite significant. In 2015, Indonesia recorded US$1.902 billion in furniture exports, increasing by 1.3 percent when compared to the previous year.

    Rudi explained that the Indonesia has a huge opportunity to expand its furniture and handicraft market.

    “The global furniture market is currently valued at US$141 billion. Indonesia’s contribution to the global market value stands at US$2 billion, while Vietnam’s stands at US$6.8 billion,” Rudi added.

    The Industry Ministry recorded an increase in the value of wooden and rattan furniture exports. In 2012, the value stood at US$1.4 billion and increased to US$1.8 billion in 2013. The figure continued to rise to US$2.2 billion in 2014. The positive trend reflects optimism that the furniture export value over the next five years will worth US$5 billion.

  • Is French Company Decathlon Looking to Invest $500M in Indonesia?

    Is French Company Decathlon Looking to Invest $500M in Indonesia?

    Indonesia’s struggling textile and garment sector could get a badly needed dose of investment. A French company specializing in sports apparel has plans to pump $500 million into the archipelago.

    Franky Sibarani, chairman of the Investment Coordinating Board (BKPM), did not disclose the name of the company, but revealed that it’s based in Lille in northern France.

    “Not only will the company market its products domestically, it will also export to other department stores overseas,” Sibarani said, noting that the unnamed company had reached out to BKPM’s representative in London and the organization intended to communicate directly with the potential investors.

    Nurul Ichwan, BKPM’s investment promotion rep in London, told Jakarta Post that the company expects to operate its first department stores in Malaysia and Indonesia this year.

    All signs point to Decathlon, a 40-year-old sporting goods and apparel retailer that sells several of its own brands and has more than 1,000 stores worldwide. It has its head office in Villeneuve-d’Ascq, close to Lille, and the company raked in 9.1 billion euro (or $10.1 billion) in 2015. It’s also opening its first Malaysian location in April and is currently hiring retail staff in Indonesia.

    A half-million dollar investment is money the country’s textile industry could do with. According to government data, garment shipments dropped by almost 11 percent last year, as Indonesia fell to fourth place as a source of U.S. apparel imports (behind China, Vietnam and Bangladesh) in the first 11 months of 2015 with just 5.8% of the year-to-date total.

    That could fall further if the 12-nation Trans-Pacific Partnership (TPP), which Indonesia is not part of, comes into force. To that end, BKPM is urgently pursuing European investors, targeting the U.K., Germany, Netherlands, France, Spain and Switzerland.

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  • Plaza Indonesia Fashion Week Celebrates New Generation of Indonesia Designers

    Plaza Indonesia Fashion Week Celebrates New Generation of Indonesia Designers

    As the theme for the mall’s anniversary celebration suggests, the fashion week will reflect the so-called “now generation” by putting emerging local designers under the spotlight.

    On Tuesday evening, young designer Yosep Sinudarsono will present his space-inspired spring-summer 2016 collection, continued with Rama Dauhan, whose streetwear designs will be infused by Morrocan and Spanish influences.

    Nikicio, a label whose name has reached cult-like status among the local fashion set, will represent the multi-label store The Goods Dept in its show on Wednesday night. Other show highlights include Opi Bachtiar and Ardistia New York on Thursday as well as Hunting Fields on Sunday.

    A slew of traditional textile-oriented designers will also participate in the fashion week, such as Didiet Maulana of Ikat Indonesia as well as batik brands like Iwan Tirta Private Collection.

    Meanwhile, some notable international labels that will show its collections during the event include Carven and Karen Millen.

    “I’m very excited to be part of Plaza Indonesia Fashion Week,” said Patrick Owen, one of Indonesia’s rising fashion stars whose show on Saturday night will mark the end of the fashion week.

    Patrick will present his latest spring collection, entitled “Jalanan” (“Streets”), which represents “my wildest imagination of how Indonesian streets could be,” he said.

    Known for his exacting tailored pieces and bold artistic prints, the designer will also collaborate with acclaimed illustrator Emte in the show.

    “We’re going to be working together on something backstage during the show, and we will give the audience a surprise by the end,” Patrick hinted.

    But that is not Emte’s only job at the fashion week — he just recently finished a 150-meter-long mural artwork that adorns the hall in which the shows will be held.

    “It is the first time I’ve ever created a work that big,” he said with a laugh.

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  • Lazada to intensify promotion, presence in major Indonesian

    Lazada to intensify promotion, presence in major Indonesian

    Entering its fourth year of operations, regional e-commerce giant Lazada Group is seeking to expand its customer base in more major Indonesian cities in a bid to win the online store competition in Southeast Asia’s biggest economy.

    Lazada Indonesia CEO Magnus Ekbom said Monday that the company would focus on intensifying its presence in major cities outside the Indonesian capital of Jakarta, including Yogyakarta, Medan in North Sumatra, Bandung in West Java and Surabaya in East Java, through road shows and other promotional efforts.

    “The road shows in these cities will connect us with our customers and understand unique regional factors,” Ekbom said.

    “We have also studied what products seem to be the most popular [in the cities] and the results have often been interesting.”

    Lazada Group is a privately owned e-commerce company founded in 2011 by Rocket Internet with the goal of building Southeast Asia’s version of Amazon.com.

    Lazada, which began operations in the Philippines in 2012, led Internet retailing in the country last year with a 20 percent market share as it met rising demand for gadgets and electronic appliances, from smartphones, tablets to home theater systems, at prices that were a “huge” discount, according to a Euromonitor International January 2016 report.

    Aside from the Philippines, it operates sites in Indonesia, Malaysia, Singapore, Thailand and Vietnam. Singapore’s Temasek Holdings Pte is one of its large shareholders.

    On March 12, on its anniversary date, the Singapore-based Lazada Group announced that its gross merchandise value (GMV) last year stood at US$1.3 billion across its six Southeast Asian countries of
    operation.

    Lazada runs its business as both an online retailer and marketplace for other online merchants.

    There are currently 11,000 merchants utilizing Lazada Indonesia.

    Since the platform’s Indonesian beginnings, it has grown from employing 200 workers in 2012 to more than 750 in 2016. Currently, 60 percent of transactions on Lazada are made through mobile phones, indicating the mobile-savvy nature of Indonesian customers.

    “Lazada sees up to a quarter of a billion activities daily, which involve customers browsing for items, customers buying items, or even just adding things to their wish list,” Lazada’s SVP head of data science John Berns said.

    “It’s a remarkable scene, because Indonesia currently has about 70 million internet users, and will probably reach 100 million by the end of the year,” he added.

    To celebrate its fourth anniversary, Lazada Indonesia will have a sale from March 15 to March 18, which is expected to attract around 15 million visitors.

    Ekbom said that the e-commerce platform would offer up to 540,000 special deals for all customers during the sale, at discount rates of up to 90 percent, around three times more than what Lazada offered during its birthday sale in 2015.

    Brands that will participate in the sale include those in the IT, sports, automotive ad beauty product segments, including L’Oréal, Infinix, Panasonic, Lenovo, Samsung, Nike, Sharp and many more.

    Indonesia’s e-commerce market is forecast to grow to $25 billion this year from only $8 billion in 2013, according to e-commerce provider Vela Asia.

    A number of e-commerce players, both online retailers and marketplaces, plan to develop their businesses. Lippo Group has launched shopping website mataharimall.com and plans to invest $500 million. Existing marketplaces such as Bukalapak and Tokopedia have also secured some new funding.

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  • Pertamina Issues New Fuel Prices

    Pertamina Issues New Fuel Prices

    PT Pertamina (Persero) has issued circular letter on general fuel (BBM umum) and designated fuel (BBM khusus) prices in its Marketing Operation Region III.

    Based on circular letter no 518/F13410/2016-S3, general and designated fuel prices have changed at Region III Pertamina which consist of 27 public gas stations in West Java.

    New prices listed in the letter include a number of general and designated fuels, such as Pertamax, Pertamax Plus, Pertamina Dex, Premium, Non-subsidized Solar/ Biosolar, and Pertamax Racing. The change is effective from 12.00 am Western Indonesia Time, Tuesday, March 15, 2016.

    Listed below are new tariffs of general and designated fuels of Region III, also the details of base price, motor vehicle fuel tax (PBBKB) and value-added tax (VAT):

    Type of general fuel-designated fuel / Basic Price (Rp per liter) / PBBKB (Rp) / VAT (Rp) / Selling Price (Rp per liter):

    Pertamax Plus / 7,521 / 376 / 752 / 8,650 Pertamax / 6,739 / 336 / 673 / 7,750Pertamina Dex / 7,478 / 373 / 747 / 8,600Premium /6,130 / 301 / 613 / 7,050Pertalite / 6,347 / 317 / 634 / 7,300Non-subsidized Solar, Biosolar / 6,217 / 310 / 621 / 7,150Pertamax Racing, Pail / 47,391 / 2,369 / 4,739 / 54,500Pertamax Racing, Bulk /31,304 / 1,565 / 3,130 / 36,000

    Pertamax, Pertamax Plus and Pertamina Dex prices issued by Pertamina in West Java region have fallen compared to the prices announced before.

    Per March 1, 2016, Pertamax was Rp8,050 per liter, Pertamax Plus was Rp8.850 per liter, dan Pertamina Dex was Rp8.800 per liter. Whereas on March 15, 2016, the prices have been adjusted to Rp7.750 for Pertamax, Rp8.650 for Pertamax Plus, and Rp8,600 for Pertamax Dex.

    In Jakarta, the fuel prices have fallen, albeit insignificantly. Per March 1, 2016, Pertamax price in Jakarta was Rp7.950, Pertamax Plus was Rp8,850, and Pertamina Dex was Rp8,800. The figure has changed on March 15, 2016 to Rp7.750 for Pertamax, Rp8.650 for Pertamax Plus, and Rp8,600 for Pertamax Dex.

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  • President Jokowi receives visiting Belgian princess

    President Jokowi receives visiting Belgian princess

    Indonesian President Joko Widodo (Jokowi) received the visit of Princess Astrid of Belgium, who led a business delegation to discuss opportunities to enhance economic cooperation between the two countries.

    During the courtesy visit to the Presidential Palace here on Tuesday, Princess Astrid was accompanied by five Belgian ministers and some 205 representatives from 127 Belgian companies and 40 organizations operating in the fields of infrastructure, ports, energy, chemical industry, and telecommunications.
    Several potential business-to-business agreements and educational cooperation between universities of the mission are ready to be discussed and signed.

    While in Jakarta, Princess Astrid has a hectic schedule, traveling to several areas in the capital city, Karawang, Bogor, and Bandung. Besides being received by President Jokowi and Vice President Kalla, Princess Astrid also met the minister of transportation, maritime affairs and fisheries minister, minister of commerce, as well as several other ministers.

    Princess Astrid will also meet Jakarta Governor Basuki Tjahaha “Ahok” Purnama, West Java governor, and Bandung Mayor Ridwan Kamil during the four-day visit.

    She is also scheduled to attend a series of seminars including the Belgium-Indonesia Clean-Tech Summit, Belgium-Indonesia Maritime Summit, and Belgium Indonesias gateway to the EU Market.
    Princess Astrid will also attend some seminars titled Smart City, Innovative Partnership and International University-State Business-DRIVE.

    During her visit to Jakarta, Princess Astrid will be accompanied by Deputy Prime Minister and Foreign Minister Didier Reynders Belgium; Vice President and Minister of Economy Jean-Claude Marcourt; as well as several other important officials.

    Minister Didier is also scheduled to meet Foreign Minister Retno Marsudi, and there are plans to discuss economic, trade, and security cooperation, including tackling radicalism.

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  • Indonesia exports instant noodle to Palestine

    Indonesia exports instant noodle to Palestine

    Indonesia has opened an opportunity to export instant noodles to Palestine after it has successfully shipped 15 containers to West Bank.

    Foreign Minister Retno LP Marsudi said at the presidential palace compound here on Tuesday following the official opening of the Indonesian Honorary Consulate in Ramallah, economic cooperation between the two countries should increase.

    “The honorary consul is tasked with increasing the economic cooperation. Although it is still very small our trade with Palestine has shown an increasing trend,” she said.

    From 2012 to 2015 the volume of trade between the two countries have jumped remarkably by 300 percent.

    “Yesterday I talked with an importer of eastern noodle to Palestine. Indonesia has shipped 15 containers of instant noodle to the West Bank,” she said.

    Retno said the volume of trade between the two countries has continued to increase and so the presence of the honorary consulate is needed very much to develop the potential.

    “Madam Abu (Maha Abu Shusheh, the Indonesian consul in Ramallah), is a business person who represents a good working network and has been successful not only in Palestine but also in other Arab countries,” she said.

    Minister Retno said she also saw that empowering must be done so that the honorary consulate in Ramallah could also send business men from Palestine to Indonesia.

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