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Italy-Indonesia: possible trade increase from $4.5 to 25 billion - partnership for major investments, says Terzi

24 April 2012

“There is room for investments in Indonesia by Italian firms, and for increasing trade from $4.5 billion to $25 billion, equal to 1% of the combined GDP of our two nations”, said Indonesian Trade Minister Gita Wirjawan in the margins of a meeting in Jakarta with Minister Giulio Terzi, on the first leg of a new mission to Asia that will bring him to Myanmar on 25 and 26 April and Brunei on the 27th where he is to attend the EU-ASEAN Summit. The Indonesian Trade Minister offered the example of trade between his country and China, equal to $60 billion – 1% of their combined GDP. The same percentage could be achieved with Italy, he said, going from $4.5 billion to $25 billion ($2.5 trillion).

The Indonesian government’s idea, Terzi asserted, “is an extremely attractive one that confirms the feelings I have developed visiting this country and its business community. The sensation”, the minister stated, “is that there are many sectors and areas where our presence is welcome and that offer major opportunities. The emphasis has been, above all, on the possibility of large-scale investments in Italian-Indonesian partnerships”, Terzi added, underscoring how this “is the degree of attraction that this country has and one of my main purposes for coming here”.

Favoured relations

Italy has favoured relations with Indonesia, which is fast becoming a leader in Southeast Asia: bilateral collaboration on global economic and political governance, the enormous potential of the Indonesian economy (which has peaked at one trillion dollars) and investment opportunities for Italian firms, as Minister Terzi reiterated in an interview for Kompas Daily, the main Indonesian newspaper.

Among the most appealing sectors, the minister pointed out investments in infrastructure, energy, concrete production and commerce. Bilateral trade figures (which have reached $4.5 billion) have good growth potential, the minister declared, who is working to ensure a broad-based partnership between the two country systems. In Jakarta Terzi also underscored the results of the Monti government in regenerating economic growth and in containing public spending. Finally, he expressed his hopes for the greater integration of their respective markets, which could be achieved through increased EU-ASEAN dialogue.

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