Indonesia, Slovenia Strengthen Economic and Trade Ties

TEMPO.CO, Jakarta - Indonesian Foreign Affairs Minister Retno Marsudi attended a bilateral meeting with her Slovenian counterpart Tanja Fajon in Ljubljana, Slovenia on Wednesday, June 26. The meeting discussed economic cooperation between the two countries, including the Indonesia-European Union Comprehensive Economic Partnership Agreement (Indonesia-EU CEPA).

This visit was the first working visit by an Indonesian foreign minister to Slovenia in 21 years, with the last visit being made by Foreign Minister Hassan Wirajuda. Meanwhile, Foreign Minister Fajon is on a working visit to Indonesia in May 2023. Retno described this visit to Ljubljana as an effort to reconnect bilateral relations.

“In short, Slovenia and Indonesia are trying to reconnect their bilateral relations. Not only reconnect but also determined to strengthen them,” she said in a press statement on Thursday, June 27.

During the meeting, Retno and Fajon focused on efforts to enhance economic cooperation amid the rising trend of trade and investment between the two countries by more than 14 percent in the last five years.

“But we can do more, and my visit here today showcases that Indonesia stands ready to do more,” Retno said.

She explained that the Indonesian government intends to use Slovenia’s sole port, Koper Port, as an alternative gateway for Indonesian goods to reach Central and Eastern Europe. Located in the northern part of the Adriatic Sea, the port connects the markets of Central and Southeastern Europe with the Mediterranean Sea and the Far East.

“Indonesian entrepreneurs have also started establishing business contacts with Slovenia,” she added.

She also said that Indonesia saw a large trade surplus with Slovenia. Most of its exports are coal.

During the meeting, the two foreign ministers also discussed efforts to diversify trade beyond just commodities, such as trade in paper, footwear, artificial fibers, electronic machines, apparel, plastics, printed books, cotton, and motor vehicles.

The investment value between Indonesia and Slovenia reached almost US$2.5 million by 2023 Retno claimed. “Indonesia expects this figure to rise by the end of this year. Therefore, we open wide opportunities for investment from Slovenian companies, especially in downstream industries, including minerals and renewable energy,” she remarked.

Additionally, they discussed efforts to accelerate the Indonesia-EU CEPA negotiations, with the 17th round being held from February to March 2024 in Bandung.

Retno also invited Slovenia and its business community to attend the 2nd Indonesia-Europe Business Forum (IEBF) in Jakarta on October 7 - 8 and the Trade Expo Indonesia (TEI) on October 9 - 12.

In the field of people-to-people relations, Retno welcomed the initiative of the University of Ljubljana to establish relations with Indonesian institutions. The two countries also discussed the process of appointing an honorary consul for Slovenia in Jakarta to strengthen cooperation, especially in the economic and socio-cultural fields.

“This appointment will elevate Slovenia’s presence and visibility in Indonesia,” Retno Marsudi concluded.

NABIILA AZZAHRA

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