Jakarta: In order to strengthen trade and investment between Indonesia and the Latin American and Caribbean region, as well as an effort to support the Indonesia-Latin America and the Caribbean (INA-LAC) Business Forum and Trade Expo Indonesia (TEI) 2020, on October 27, the Indonesian Embassy in Bogota has held a webinar with the theme "INA-LAC and TEI 2020: One Stop Venue for Your Business and Investment in Indonesia and Latin America & the Caribbean".
Present as speakers for the webinar were the Director of America II of the Indonesian Ministry of Foreign Affairs, the Head of ITPC Sao Paulo Brazil, and the Chair of the Indonesian Chamber of Commerce and Industry's Standing Committee on Export.
The webinar was attended by more than 100 business entities from Colombia, Antigua and Barbuda, St. Kitts and Nevis, as well as Indonesia.
"The webinar is also broadcast on the official Youtube channel of the Indonesian Embassy in Bogota to make it more accessible forthe wider community," said the Indonesian Embassy in a press release issued on Monday.
In his opening remarks, the Indonesian Ambassador to Bogota, Priyo Iswanto, said that this webinar was a medium of interaction for Indonesia and business people in Latin America & Caribbean regarding the upcoming INA-LAC and TEI 2020.
The Indonesian Ambassador also said that Colombia, the Caribbean and Indonesia are large potential markets in their respective regions, therefore INA-LAC and TEI will be the perfect platforms for market expansion and business development.
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.
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, the Indonesian Ministry of Foreign Affairs is still committed to facilitating business interaction and encouraging investment by carrying out a hybrid business forum in INA-LAC 2020. This event will be a virtual trade show for products, companies from various sectors, and investment and they will be able to hold business to business meetings to offer/buy their products.
From year to year, Indonesia has always experienced a trade surplus with Colombia. In 2018, Colombia recorded a deficit of up to US $203 million (up 14 percent from the previous year). Indonesia is Colombia's 89th trading partner for Colombian export destinations, and is Colombia's 29th trading partner for Colombian import sources.
The Indonesian Embassy in Bogota sees Colombia as the fourth largest economy in Latin America, after Brazil, Mexico and Argentina, as having great potential for Indonesian products. At the same time, Colombia also has great potential to invest in Indonesia. According to the Investment Coordinating Board (BKPM) data for Q2 2020, Colombia has two investment projects in Indonesia in the tourism sector.
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