Industry minister strengthens Indonesia-Switzerland cooperation
http://www.antaranews.com/en/news/1...strengthens-indonesia-switzerland-cooperation
Jakarta (ANTARA News) - Industry Minister Airlangga Hartarto has strived to strengthen the cooperation between Indonesia and Switzerland in the industry sector.
The cooperation show a significant growth since the establishment of the diplomatic relationship between the two countries in 1952.
"Switzerland has chosen Indonesia as one of the priority countries in economic cooperation, including partnership in the industry sector," said Hartarto in a press conference in Jakarta, Tuesday.
In terms of capital investment, Switzerland placed Indonesia in the fourth place in the list of priority investment destination in Asia.
Ministry of Industry noted that in 2015 the value of Indonesia-Switzerland trade experienced a significant increase of 124 percent compared to the year prior as it reaches US$1.7 billion.
"Meanwhile, Indonesias export to Switzerland reached US$1.07 billion and Indonesias import from Switzerland reached US$0.63 billion," he revealed.
In the future, the Minister is confident that the economic cooperation between the two countries will only get stronger as the Swiss government has stated their willingness to support Indonesia in the industry sector, especially Small and Medium Industries (SMIs), agriculture industry and the implementation of vocational education.
"Switzerland is one of the European countries with an advanced industry sector and Indonesia needs to learn about the usage of technology and the development of human resources for industrial purposes that are implemented by the country," he said exuding optimism.
Hartarto also encourage Swiss businesspersons to invest more in Indonesia especially in the pharmacy, bio-energy and manufacturing sectors.
"This is one of the efforts to execute President Joko Widodos directives regarding industrial equalization in the regions outside of Java islands as well as border areas," he added.
On the same occasion, the Industry Minister expressed his appreciation towards Swiss government and businesspersons who have been contributing to Indonesias industrial development.
"We will open partnership opportunities that will be beneficial for both parties," he reiterated.
Similar statements were also made by Swiss Ambassador for Indonesia Yvonne Baumann who deliver his appreciation towards Indonesias government for establishing economic policy packages that ease the Swiss investors way to do business in Indonesia.
"Up until today some 150 Swiss corporations are operating in Indonesia, absorbing up to 60,000 local labor. We are hoping to continue to be business partners for the corporations in Indonesia," he explained.
Yvonne admitted that Indonesia have an alluring market potentials due to its large number of citizens.
"It makes sense that a lot of countries are interested in establishing partnership (with Indonesia), including Switzerland," he added.
Meanwhile, a spokesperson from the International Access Development in the Ministry Harjanto said that the economic cooperation between the two countries have been implemented in a number of sectors including cultivation, tourism, agriculture, education and aviation industries.
The bilateral relationship that continue to grow stronger is marked by the implementation of work initiatives that are beneficial for both parties.
"At the moment, Comprehensive Economic Partnership between Indonesia and Switzerland is being negotiated in the form of Indonesia and European Free Trade Association (EFTA), where Switzerland is a member," he said.
The negotiation is compiled in a package named Indonesia-EFTA Comprehensive Partnership Agreement (IE-CEPA).
"We are hoping that the negotiation will go on smoothly and create economic benefits for both countries," Harjanto concluded.
Pertamina acquires French oil company
http://www.thejakartapost.com/news/2016/08/02/pertamina-acquires-french-oil-company.html
State-owned energy giant PT Pertamina announced on Monday the acquisition of France-based oil company Maurel et Prom with the purchase of 24.53 percent of its shares from Pacifico.
Pertamina vice president of corporate communications Wianda Pusponegoro said the acquisition was part of Pertamina's strategy to bolster its upstream footprint around the world.
"This impressive step demonstrates Pertamina’s strong commitment to ensure Indonesia’s energy security," Wianda said Monday.
Pertamina signed an agreement with Pacifico to purchase 24.53 percent of Pacifico's share in Maurel et Prom for a price of 4.20 euros per share plus a potential 0.50 euro earn-out per share.
The earn-out will be paid if, from Jan. 1 to Dec. 1, 2017, the Brent price remains above US$65 per barrel during all trading days within a period of 90 consecutive calendar days. The completion of the transaction is subject to regulatory approval from relevant authorities.
Maurel et Prom is an independent oil company engaged in the extraction and production of hydrocarbons, listed on Euronext Paris and headquartered in Paris with a market capitalization of 550 million euros.
The group carries out most of its business in Africa through the exploitation of onshore production assets in Gabon and Tanzania, as well as a 21.37 percent stake in Seplat Petroleum, one of the leading indigenous operators in Nigeria with a production of 43.4kboe/d in 2015.
Indonesia eyes more economic cooperation with Morocco
http://www.thejakartapost.com/news/...s-more-economic-cooperation-with-morocco.html
Indonesia aims to increase cooperation with Morocco amid growing economic ties between the two countries, a minister said on Saturday.
Economic ties with Morocco are "expanding and encouraging", Public Works and Public Housing Minister Basuki Hadimuljuno said, explaining that trade between the two countries reached US$ 214.32 million in 2015.
“We will jointly explore opportunities to enhance economic cooperation between the two countries," he said at the Moroccan National Day reception in Jakarta on Saturday night.
Morocco is Indonesia’s seventh-biggest trading partner in Africa. With its more than $100 billion gross domestic product (GDP) and population of 35 million people, the regional power in North Africa is a promising market as well as a gateway to both African and European countries for Indonesian products and investment, as it is located less than 100 kilometers from Spain.
Indonesia's exports to Morocco over the years include palm oil, furniture, coal, spices, garments and glassware. In recent years, Indonesia added more products to its exports to the North African country such as instant noodles, green tea and coffee.
Publicly listed food giant Indofood is building a US$5 million instant noodle factory in Morocco, its largest factory outside Indonesia, set to begin operation in September or October, Basuki said.
Morocco also serves as an important partner in Indonesia's agricultural sector as it is home to more than 70 percent of world’s phosphate, a main ingredient in fertilizers and reserves. Indonesia imports phosphate, fertilizers, chemicals, oranges, iron and steel products from the country.
Echoing a similar view, Moroccan Ambassador to Indonesia Mohamed Majdi praised relations between the two countries, calling them “excellent”.
