Friday, 20th October 2017

Sweden seeking more opportunities to strengthen economic ties with Indonesia

19th May 2017 | 10.843 Views
Jakarta (ANTARA News) - Sweden is trying to seek more opportunities to strengthen economic relations with Indonesia by holding a business forum on the sidelines of the visit of Swedish King Carl XVI Gustaf and Queen Silvia next week.

The Indonesia-Sweden Executive Business Forum (ISEF) that takes place in Jakarta on May 23 will be attended by 31 Swedish companies and Swedish Minister for Infrastructure Anna Johansson.

"Many of the companies have been here for a long time, and now we will bring the top managements here to see how we can dig deeper in Indonesia," Swedish ambassador to Indonesia Johanna Brismar Skoog told the press here, Thursday.

Swedish companies are confident their products, ideas and sustainable solutions would benefit Indonesia in many sectors, particularly in infrastructure, transportation, energy and creative economy.

As one of the biggest markets in ASEAN that is supported by strong democracy and a vibrant civil society, the archipelago attracts a growing interest from many countries, who want to increase their trade and investment.

Currently, 80 Swedish companies are operating in Indonesia and employ about two thousand people here.

Among the well-known companies are technology-producer ABB Group, Volvo cars and trucks, Oriflame cosmetics, automotive producer Scania, household products seller IKEA, clothing-retail company H&M, food packaging and processing company Tetra Pak, as well as music, podcast, and video streaming service Spotify.

The number is expected to rise as more negotiations will be carried out between companies of the two countries during the forum.

As for Indonesia, Skoog said that there are opportunities for Indonesian products to explore the Swedish market.

"We are the second largest coffee drinker in the world, and the specialty coffees that come to Sweden from Indonesia are good," she noted.

Other products that could attract the Swedes are chocolate and fashion.

The data from the Ministry of Trade showed a decline in the total trade values between Indonesia and Sweden in the last four years.

The trade value has come down from US$1.45 million in 2012 to US$670 thousand in 2015.

The Swedish total investment in Indonesia has reached US$12.4 million in the last five years.(*)