Switzerland’s relaxing of restrictions expected to boost Indonesia’s exports

Jakarta (Indonesia Window) – The easing of the policy on restrictions on economic/social activities by the Swiss government, which has been in effect since June 26, 2021, is expected to increase Indonesia’s exports to this Western European country.

The Swiss State Secretariat for Economic Affairs (SECO) said the easing had triggered a faster economic recovery, according to a written statement from the Indonesian Embassy in Bern received here on Thursday.

SECO forecasts Switzerland’s Gross Domestic Product (GDP) in 2021 to increase by 3.6 percent from 3 percent in March.

The Swiss economy was expected to enter positive growth until the end of 2021, after in the first quarter of 2021 it showed a negative growth of 0.5 percent, compared to -2.9 percent in 2020.

Indonesian Ambassador to Switzerland and Liechtenstein Muliaman Hadad estimated that in the third and fourth quarters of 2021, Indonesia’s trade balance against Switzerland would still increase as in the same period last year.

The relaxation of community activities in Switzerland is projected to boost economic activity in this 8.5 million people-populated country, which is expected to increase demands for Indonesian products.

Relations between Indonesia and Switzerland are increasing, not only between governments, but also between businesses, and peoples of the two countries.

The 2021 is the year to celebrate the 70th anniversary of relations between Indonesia and Switzerland, since the opening of diplomatic relations between the two countries in 1951.

Reporting by Indonesia Window