The Philippines is a strategic trading partner for Indonesia, with the former contributing a trade surplus of approximately 11.4 billion U.S. dollars to the latter's trade balance.

Jakarta (Indonesia Window) – The Indonesian Embassy in Manila, the Philippines, in collaboration with the Entrepreneurs Organization Philippines (EOP), organized an investment promotion event in the Indonesian Ambassador's Residence in Manila on Thursday (June 15).

The event took the form of a ‘Learning Event and Casual Dinner Reception’ under the theme ‘Exploring Business Opportunities in Indonesia’, the Indonesian Ministry of Foreign Affairs said in a written statement as quoted by Indonesia Window on Sunday.

In his opening remarks, the Indonesian Ambassador to the Philippines, Agus Widjojo, expressed his hope that the event would serve as a platform for meaningful exchange of ideas and discussions to strengthen economic and trade cooperation between the two countries.

He further hoped that the event would generate innovative approaches and identify shared interests in strengthening partnership.

"Indonesia, as one of the major economic powers in Southeast Asia and the Philippines, with its dynamic and resilient business environment, have many advantages in closer cooperation across various sectors," Ambassador Agus stated.

The event was attended by 49 members of the EOP engaged in various fields such as healthcare products, food and beverages, labor, energy, tourism and services.

The EOP is a community of Filipino entrepreneurs that is part of the international EO organization present in 60 countries, aiming to enhance the capacities and potentials of its members through business networking.

The EOP's President Jenny Co-Yang appreciated the collaboration with the Indonesian Embassy in organizing the event.

She believed that the activity would assist Filipino entrepreneurs in identifying business opportunities, particularly those that have the potential to grow in the future, such as e-commerce and start-ups that have experienced rapid growth in Indonesia.

On the occasion, the Coordinator of Economic Function, Mudzakir, and the Trade Attaché, Martin Hutabarat, presented various business potentials in Indonesia.

Some of the business opportunities discussed included infrastructure development, including the construction of infrastructure in the project of the New National Capital City (locally known as IKN), renewable energy, tourism, e-commerce and creative economy.

Other aspects such as regulations, ease of doing business, and business culture in Indonesia were also discussed with the entrepreneurs.

The event was successful and will be followed up with further meetings for each business cluster, aiming to provide easier access to information and facilitation for Filipino entrepreneurs seeking business opportunities in Indonesia.

The Philippines is a strategic trading partner for Indonesia, with the former contributing a trade surplus of approximately 11.4 billion U.S. dollars to the latter's trade balance.

The total bilateral trade value between Indonesia and the Philippines amounted to 14.39 billion dollars in 2022, an increase of 57 percent compared to that in the previous year.

Editing by Indonesia Window