Indonesia, Switzerland to strengthen economic ties

Switzerland is Indonesia most important and largest economic partner in European free trade association and a major European investor in the country. During the meeting, Ministers from both sides discussed trade cooperation and investment partnership. Both countries saw a significant increase in bilateral trade, reaching 2.7 billion US dollars in 2022, up 38% from 2021, after a comprehensive economic partnership agreement took effect in November 2021.

To sustain this growth, both ministers plan to encourage businesses to leverage the comprehensive economic pact, focusing on capacity-building programs for rules of origin and sanitary standards for cross-border trade.