Jakarta: The Indonesian government officially launched the Indonesia-Latin America and the Caribbean (INA-LAC) Business Forum 2020 on Monday.
Held in a hybrid manner due to the ongoing covid-19 pandemic, the forum will take place from November 9-11.
According to Indonesian Foreign Minister Retno Marsudi, the forum can help strengthen economic cooperation between Indonesia and countries in Latin America and the Carribean.
"Our current relation does not reflect our true potential. Our total trade only represent 2 percent of Indonesia’s total trade to the world and only a mere 0.3 percent percent of LAC’s total trade to the world. That means that in order to unlock the real economic potentials…we must be able to adapt to new approaches and create breakthroughs," said the Indonesian minister in her opening speech on Monday morning.
INA-LAC is the annual flagship event of the Indonesian Ministry of Foreign Affairs. INA-LAC is the only business forum that connects Indonesia and Latin America and the Caribbean. INA-LAC underlines the goal of maximizing the potential for trade, tourism and investment between the two regions.
Last year, the implementation of INA-LAC 2019 received attention from the government and economic sectors of the two regions, with a total business agreement worth US$33.12 million in various strategic sectors.
This year, despite being hampered by the Covid-19 pandemic, this event will be a virtual trade show for products, companies from various sectors, and investment.
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