Home / Knowledge / News / Textiles / Singapore, Indonesian apex chambers sign agreement
Singapore, Indonesian apex chambers sign agreement
30
Jul '15
Widodo speaking at SBF/Courtesy: SBF
Widodo speaking at SBF/Courtesy: SBF
Singapore Business Federation (SBF) and the Indonesian Chamber of Commerce and Industry (KADIN) have signed a Strategic Cooperation Agreement during the visit of Indonesian President Joko Widodo to the neighbouring city-state this week.
 
The first such agreement between two apex chambers in Asean is expected to boost bilateral trade and investment relations between the two countries, SBF said on its website.
 
The comprehensive agreement establishes a business-to-business platform for promoting Singapore investments into Indonesia. It will help Singapore companies take advantage of business opportunities in Indonesia to foster closer relationships between SMEs in both countries, and foster exchange of information regarding economic developments, good trade association management practices and capacity building programmes.
 
The agreement also envisages establishment of appropriate conduits for feedback on the obstacles and challenges impacting the flow of trade and investment between Indonesia and Singapore.
 
Commenting on the agreement, SBF chairman SS Teo said, “With the world's fourth largest population and a rising middle class, Indonesia offers many opportunities for  businesses from both sides to explore, not only within the growing metropolitan areas, such as Bali, Jakarta, Makassar, Surabaya, but also in the other areas of the archipelago. We look forward to closer collaboration between businesses from both sides, particularly SMEs, in enhancing two-way trade and investment.”
 
“The level of commitment of  both apex chambers are real and practical and we will work to enhance economic cooperation by forming a Joint Committee to implement the objectives of Strategic Cooperation to provide real supports to all businesses including SMEs,” said KADIN chairman Suryo Bambang Sulisto.
 
Further to the conclusion of the agreement, SBF will be organising several business missions to several Indonesian cities including Jakarta, Surabaya, Bintan and Batam, as well as thematic industry roundtables to raise the awareness of new and promising business opportunities in the vast Indonesian archipelago of 250 million people.
 
The Indonesian government has set a target of achieving 7 per cent GDP growth by 2018, compared to the expected five per cent growth this year.
 
Post his meeting with Widodo, Singapore Prime Minister Lee Hsien Loong told media persons that they have agreed to deepen bilateral economic cooperation. “We agreed to work together to make it even more attractive, so that Singapore companies can take advantage of opportunities in Indonesia,” said Loong.
 
At present,Indonesia is Singapore's fourth largest trading partner, and it is also among the top five investors in Indonesia with last year's investments at $5.8 billion. (RKS)
 

Fibre2Fashion News Desk – India


Must ReadView All

Apparel/Garments | On 26th Sep 2017

US raises annual AGOA quota for textiles

The US Committee for the Implementation of Textile Agreements has...

Textiles | On 26th Sep 2017

Gujarat hopes extended textile policy to attract Rs 5000 cr

The Gujarat government feels that its recent decision to extend its...

Apparel/Garments | On 26th Sep 2017

Cash burn by e-tailers in India may double during festivals

During this year’s festival season, which has already started,...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
75.0%
No
12.5%
Skip
12.5%

Total Votes: 48

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.5%
No
25.0%
Skip
12.5%

Total Votes: 48

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.5%
No
6.3%
Skip
6.3%

Total Votes: 48

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.8%
No
10.4%
Skip
18.8%

Total Votes: 48


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search