Indonesia, Norway Agree to Boost Economic Cooperation

Tempo are reporting that Indonesian and Norwegian authorities have agreed to enhance cooperation including through the Indonesia–European Free Trade Association Comprehensive Economic Partnership Agreement (Indonesia–EFTA CEPA) agreed upon in 2018.

According to Tempo, the commitment was communicated during a recent meeting between Dida Gardera, the Coordinating Ministry of Economic Affairs’ Expert Staff on Connectivity, Service Development, and Natural Resources, and Erling Rimestad, the Norwegian Deputy Foreign Minister.

“We agree to continue enhancing the implementation of the agreement, including by organizing dissemination activities for domestic stakeholders to increase trade and investment cooperation,” Gardera said in a written statement on Sunday.

One of the aspects of cooperation specifically discussed during the meeting is the implementation of digital trade, which is consistent with Indonesia’s efforts to promote digital transformation.

The two countries also discussed sustainable trade and development, which Indonesia committed to supporting as conveyed in various documents, such as the Enhanced Nationally Determined Contribution (ENDC) on climate change and the National Middle-Term Development Plan (RPJMN), report Tempo.

“The most important thing is that Indonesia’s legal products are supportive of sustainable development issues, including through the inclusion of a carbon tax in Law No. 7 of 2021 on Tax Regulation Harmonization and Law No. 4 of 2021 on Financial Sector Development and Enhancement,” Gardera stated.

Meanwhile, the two sides also discussed Indonesia’s regulations on halal certification, which could affect Norwegian imports to Indonesia.

In response, Gardera said that Indonesia is currently undergoing policy reform, which includes changes to the halal certification mechanism.

“We also discuss the latest regulation on a thorough test on transparency and human rights aspects of a business process in Norway, as Indonesia is now developing a policy of business management and human rights,” the ministry official said.

The meeting also discussed foreign trade agreements (FTA) between Indonesia and other parties, palm oil issues, and carbon trade, particularly in the agriculture sector, as well as the maritime sector, primarily in transportation and logistics, say Tempo.

The progress of negotiations of the Indonesia-European Union Comprehensive Economic Partnership Agreement (Indonesia-EU CEPA), which entered its 13th round last February and is expected to be completed later this year, and the ongoing Indo-Pacific Economic Framework (IPEF) negotiations in Bali, were also discussed according to reports.

At the conclusion of the meeting, both sides agreed to continue enhancing communication to address common issues.

Source: Tempo

Latest Article
President Instates New Minister of Agrarian Affairs and Spatial Planning
According to reporting from local news wires, including Tempo and Antara News, President Jokowi instated...
President Inaugurates Makassar New Port
President Jokowi officially inaugurated the Makassar New Port, the largest port serving the eastern region...
BI Maintains Benchmark Interest Rate at 6-Percent
According to reporting from Jakarta Globe, Bank Indonesia (BI,) during its Board of Governors Meeting...
VinFast Plans to Build EV Factory
According to reporting from Antara News and Tempo, Indonesia’s Industry Minister, Agus Gumiwang Kartasasmita,...
SpaceX Falcon 9 Launches Telkom's Red and White 2 Satellite
State-owned telecommunication company Telkom Indonesia, with its subsidiary Telkomsat, launched the Red...

Andrzej Barski

Director of Seven Stones Indonesia

Andrzej is Co-owner/ Founder and Director of Seven Stones Indonesia. He was born in the UK to Polish parents and has been living in Indonesia for more than 33-years. He is a skilled writer, trainer and marketer with a deep understanding of Indonesia and its many cultures after spending many years travelling across the archipelago from North Sumatra to Irian Jaya.

His experience covers Marketing, Branding, Advertising, Publishing, Real Estate and Training for 5-Star Hotels and Resorts in Bali and Jakarta, which has given him a passion for the customer experience. He’s a published author and a regular contributor to local and regional publications. His interests include conservation, eco-conscious initiatives, spirituality and motorcycles. Andrzej speaks English and Indonesian.

Terje H. Nilsen

Director of Seven Stones Indonesia

Terje is from Norway and has been living in Indonesia for over 20-years. He first came to Indonesia as a child and after earning his degree in Business Administration from the University of Agder in Norway, he moved to Indonesia in 1993, where he has worked in leading positions in education and the fitness/ wellness industries all over Indonesia including Jakarta, Banjarmasin, Medan and Bali.

He was Co-owner and CEO of the Paradise Property Group for 10-years and led the company to great success. He is now Co-owner/ Founder and Director of Seven Stones Indonesia offering market entry services for foreign investors, legal advice, sourcing of investments and in particular real estate investments. He has a soft spot for eco-friendly and socially sustainable projects and investments, while his personal business strengths are in property law, tourism trends, macroeconomics, Indonesian government and regulations. His personal interests are in sport, adventure, history and spiritual experiences.

Terje’s leadership, drive and knowledge are recognised across many industries and his unrivalled network of high level contacts in government and business spans the globe. He believes you do good and do well but always in that order. Terje speaks English, Indonesian and Norwegian.

Contact Our Consultants

Ridwan Jasin Zachrie

CFO of Seven Stones Indonesia, Jakarta

Ridwan is one of Indonesia’s top executives with a long and illustrious career in the financial world. He holds several professional certifications including being a Certified Business Valuer (CBV) issued by the Australian Academy of Finance and Management; Broker-Dealer Representative (WPPE); and The Directorship Certification for Directors and Commissioners, issued by the Indonesian Institute of Commissioners and Directors.

His experience includes being the Managing Director at one of the top investment banking groups in the region, the Recapital Group, the CFO at State-owned enterprises in fishery industry and the CEO at Tanri Abeng & Son Holding. He’s also been an Independent Commissioner in several Financial Service companies and on the Audit and Risk Committee at Bank BTPN Tbk, Berau Coal Energy Tbk, Aetra Air Jakarta as well as working for Citibank, Bank Mandiri and HSBC. His last position was as CFO at PT Citra Putra Mandiri – OSO Group.

Ridwan has won a number of prestigious awards including the Best CFO Awards 2019 (Institute of Certified Management Accountant Australia-Indonesia); Asia Pacific Young Business Leader awarded by Asia 21 Network New York USA (Tokyo 2008); UK Alumni Business Awards 2008 awarded by the British Council; and The Most Inspiring Human Resources Practitioners’ version of Human Capital Magazine 2010.

He’s a member of the Board of Trustees of the Alumni Association of the Faculty of Law, Trisakti University, Co-Founder of the Paramadina Public Policy Institute and actively writes books, publications and articles in the mass media. He co-authored “Korupsi Mengorupsi Indonesia” in 2009, which helps those with an interest in understanding governance in Indonesia and the critical issue of corruption. Ridwan speaks Indonesian and English.

Per Fredrik Ecker

Managing Director of Seven Stones Indonesia, Jakarta

Per is the Managing Director of the Seven Stones Indonesia (SSI) Jakarta office and has more than 25-years’ experience in Indonesia, China, and Western Europe. He previously worked in senior management positions with Q-Free ASA, Siemens AG, and other companies in the telecom sector. Over the last six years, he has been the Chairman of the Indonesia-Norway Business Council (INBC) and recently become elected to be on the board of EuroCham Indonesia.

His most recent experience is within Intelligent Transport Solutions (ITS), Telecom, and other sectors within the Indonesian market. He is today through his position in SSI and by representing Norway Connect, promoting Nordic and European companies that would like to explore business opportunities in the Indonesian market. He’s also playing an active role to help create the Nordic House concept in Jakarta that will provide an excellent platform for Nordic companies entering Indonesia, where they’ll find a community that can offer support with trusted information and affordable services to enter this market.