Amsterdam, 29 May 2024 – The Indonesia-the Netherlands Trade, Tourism, and Investment (TTI) Forum was successfully convened on 28-29 May 2024 in Amsterdam, marking a significant milestone in the bilateral relations between Indonesia and the Netherlands. This event, organized by the Embassy of Indonesia in the Netherlands, the Indonesia Investment Promotion Center (IIPC) London, and Bank Indonesia London, sought to enhance market penetration in Europe and foster trade and investment in strategic sectors.
The TTI Forum provided a valuable platform for engagement at both government-to-government (G-to-G) and business-to-business (B-to-B) levels, aimed at exploring untapped potentials and boosting economic cooperation between the two nations.
Pre-Event Activities
On 27 May 2024, a precursor to the main event, the Trade Business Matching, was held at the newly renovated Indonesia House Amsterdam. This venue is set to serve as a hub for promoting Indonesia in Europe. The event witnessed the signing of 11 business Memorandums of Understanding (MoUs) and 1 Letter of Intent (LoI), officiated by the Indonesian Ambassador, the Deputy-Governor of Bank Indonesia, and several senior officials from the Ministry of Trade and Ministry of Tourism and Creative Economy. Concurrently, a TTI exhibition showcased products from 25 Indonesian exporters, featuring a diverse array of items such as health and cosmetics products, fashion, furniture, home decorations, agro-products, spices, coffee, food, and beverages.
Main Forum Activities
The high-level forum was inaugurated on 28 May 2024 by the Ambassador of the Republic of Indonesia to the Kingdom of the Netherlands, H.E. Mr. Mayerfas, and saw active participation from more than 150 registered delegates. The morning session was highlighted by keynote addresses from the Minister of Foreign Trade and Development Cooperation of the Netherlands, H.E. Ms. Liesje Schreinemacher, and the Minister of Cooperatives and SMEs of Indonesia, H.E. Mr. Teten Masduki. Both ministers lauded the strengthened economic ties and underscored the vast untapped potential for further cooperation.
Subsequent keynote addresses by Mr. Juda Agung, Deputy-Governor of Bank Indonesia, and Mr. Olaf Sleijpen, Deputy-Governor of De Nederlandsche Bank (DNB), provided insights into the economic outlooks of both countries in both bilateral and global contexts. A panel discussion titled “Indonesia-Netherlands Economic Relations: How to Move Forward?” followed, offering deep dives into future economic collaboration.
Parallel to the forum, targeted meetings were conducted among stakeholders, including:
- – O3M Hydroelectric Power Plant with Ampowr and Asia Value Partner
- – O3M Solar PV Plant – Energyworld with FundsUp and Caus Holding BV
- – OTM with Solar PV Plant
Bilateral Investment Forum
The forum continued on 29 May 2024 with a bilateral investment forum that explored investment strategies and performance enhancement for both countries. Notably, a meeting between the Indonesian Ministry of National Planning and Invest International, representing the Dutch Government, focused on finalizing a draft agreement on Dutch financing for public infrastructure development in Indonesia, valued at 300 million euros. This agreement will facilitate Public-Private Partnership (PPP) projects, enabling the identification and implementation of national priority projects.
During the TTI Forum 2024, eight significant projects were proposed, with an estimated total investment value of USD 1132.31 million, including:
- Renewable Energy Infrastructure (Waste) for the Chemical Industry in Balikpapan, East Kalimantan (USD 68.75 million)
- Water Supply and Management Infrastructure in Balikpapan, East Kalimantan (USD 30.11 million)
- Bioethanol Industry in Bojonegoro, East Java (USD 173.75 million)
- Tumpak Sewu Leisure Park in Lumajang, East Java (USD 60.36 million)
- Nusantara Convention Centre in Balikpapan, East Kalimantan (USD 79.38 million)
- Health Special Economic Zone in Sanur, Bali (USD 600 million)
- Hydroelectric Power Plant in South Kalimantan (USD 100-200 million)
- Solar PV Plant in West Nusa Tenggara (USD 20-30 million)
The Indonesia-the Netherlands Trade, Tourism, and Investment Forum 2024 exemplified the robust and growing partnership between Indonesia and the Netherlands, with a shared vision for sustainable and mutually beneficial economic growth.
