Norway to Expand its Trade and Investment in Indonesia

Norway is gearing up to enter Indonesia’s economy in a big way through investment and trade, focusing on the hydrocarbon industry, marine and maritime services, hydropower, health care and the environment.

While both countries are still negotiating a comprehensive, strategic economic partnership agreement, an increasing number of Norwegian companies, with the full support from their government, are preparing to enter Indonesia’s economy in a major way.

“Indonesia needs deep-water technology in oil mining and, being a vast archipelagic country, it also needs to develop its marine and maritime industry. My country has a very strong competitive edge in both industries,” said Norwegian Trade Minister Trond Giske.

One of the main reasons behind Norway’s plan to expand its businesses in Indonesia is that over the past few years Indonesia had been the third-fastest growing economy after China and India within the prestigious Group of 20 major economies (G20), according to Norway’s Deputy Trade and Industry Minister Jof Jeanette Moen.

Both the trade and industry minister and his deputy were among the main keynote speakers at a seminar in Oslo last Thursday on business opportunities in Indonesia.

Suryo Sulisto, chairman of the Indonesian Chamber of Commerce and Industry (Kadin), Indonesian Ambassador to Norway Esti Andayani and Ananda Idris and over 50 interested Norwegian businessmen also attended the seminar.

The next big step will be the opening of an Innovation Norway office in Jakarta in August, which will promote trade and investment, technology innovation and tourism, as well as help Norwegian companies market their products or set up investment ventures in Indonesia.

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