Kadin Pushes Forward Execution of $11 Billion MoUs with France, Urges Business to Act Ahead of FTA
Main Takeaways
|
PARIS, Investortrust.id — Kadin Indonesia Chairman Anindya Bakrie has confirmed that the chamber will move forward with the implementation of 27 memoranda of understanding (MoUs) worth $11 billion signed with French companies, following President Prabowo Subianto’s state visit to France during Bastille Day celebrations.
Speaking in Paris, Anindya emphasized that the time for waiting is over and that Indonesian businesses must begin executing the deals secured two months ago. “Why is the timing right? Because two months ago, we signed 27 MoUs worth $11 billion. Now is the time for execution,” he said on Tuesday.
The agreements were signed with French businesses under the umbrella of MEDEF (Mouvement des entreprises de France), the country’s largest employer federation, and Kadin’s official partner in France.
Business Can Start Now — With or Without FTA
Anindya also highlighted that the upcoming Indonesia–European Union free trade agreement (FTA), scheduled for signing in September, should not delay real business cooperation. “Business doesn’t have to wait. Business can start now. A year passes quickly,” he said.
Trade between Indonesia and the EU currently totals around $30 billion—just slightly behind Indonesia’s $40 billion trade volume with the United States. According to Anindya, this demonstrates strong potential for Indonesia to tap the EU as an alternative market for exports such as footwear, garments, textiles, palm oil, rubber, and electronics.
“These are attractive sectors for Indonesia, especially for expanding new markets that eventually drive investment and job creation,” he noted.
He added that the global trading landscape must be viewed beyond the U.S. market. “The U.S. only represents 13 percent of global trade. The remaining 87 percent lies with other countries—including the EU. I’m not saying the U.S. isn’t important—it is. But we can’t ignore the rest,” he said.
Bastille Day as Diplomatic Momentum
President Prabowo’s attendance at Bastille Day as guest of honor, alongside French President Emmanuel Macron, has added diplomatic weight to these economic efforts, Anindya noted. “This is a major asset—not just for this administration, but for the long term,” he said.
Regional Businesses Must Be Included
Anindya also called for greater inclusion of regional businesses in Indonesia’s international trade expansion. He stressed the importance of involving provincial Kadin leaders in overseas trade missions, arguing that access to international markets should not be limited to Jakarta-based corporations.
“Our friends from regional Kadins must recognize and seize this opportunity. It shouldn’t only benefit companies headquartered in Jakarta,” he concluded.