Jakarta, June 21 - Under the theme 'Towards INALAC: Promotion of Touristic Products,' the exchange panels of the Indonesia-Latin America and Caribbean Business Forum (INA-LAC 2023) were inaugurated in the West Nusa Tenggara Province.
The event, jointly organized by the Directorate General of American and European Affairs of the Ministry of Foreign Affairs of Indonesia and the Government of the West Nusa Tenggara Province, aimed to exchange information to enhance economic relations between Indonesia and the countries of Latin America and the Caribbean.
The program of the event included various activities such as the Panel Discussion on the INALAC Business Forum, where representatives from all Latin American and Caribbean Embassies expressed their views and suggestions to improve the forum's objectives and actions.
During his opening remarks, Darianto Harsono, the Director of America II at the Indonesian Foreign Ministry, highlighted three important points for the success of INA-LAC. These points are associated with Indonesia's need to increase market expansion opportunities through trade agreements with Latin American and Caribbean countries, optimize commercial potential in the digital economy, and ensure that the INA-LAC Forum enhances the integration of Indonesia's economy with Latin America and the Caribbean in global supply chains, particularly in the green economy sector.
Cuba was represented by the Ambassador in Indonesia, Tania Velázquez López, who had the opportunity to present the potential of trade and investment, mainly in the health, biotechnology, agriculture, and export of medical and sports services sectors.
During last year's INALAC forum, the INA-ACCESS platform was launched, integrating trade, tourism, and investment promotion in Indonesia with potential partners, enabling high-level entrepreneurs, government officials, and other stakeholders in trade and investment to interact and explore strategies for economic cooperation.
Indonesia's total trade with the Latin America and Caribbean region currently stands at only 0.4 percent. Hence, there are still significant opportunities for Indonesia to promote more exports of products and services to the countries in the region. Indonesia's main exports to Latin America and the Caribbean include palm oil, automotive industry products, coconut products, rubber, footwear, textiles, fertilizers, electronics, paper, and soap.
Exports from Latin America and the Caribbean to Indonesia include animal feed, sugarcane, cotton, corn, seeds, cocoa, wheat, tobacco, ships, frozen meat, copper, and soybeans