EFTA and Indonesia explore market access opportunities through trade seminars

To introduce the provisions of the CEPA and the market access opportunities it provides, EFTA and Indonesia held trade promotion seminars on 31 October 2024 in Jakarta and 1 November in Bandung. An expert meeting on 30 October on preference utilisation preceded these seminars.

Approximately 150 participants from private companies and government authorities attended the seminars. Experts provided insights into the technical and practical aspects of accessing markets in the EFTA States, highlighting concrete opportunities offered by the CEPA to Indonesian producers and exporters. They also covered customs-related topics such as rules of origin, along with other trade-related issues such as sanitary and phytosanitary requirements, and technical standards. Additionally, presentations offered guidance on exporting to the EFTA States, with explanations of local markets and business cultures.

The companies in attendance, some already exporting to the EFTA States and others interested in exploring the opportunities provided by the CEPA, actively participated in the subsequent roundtable discussions, which allowed them to exchange views and ask practical questions. 

EFTA–Indonesia trade relations

With a collective population approaching 15 million and a combined GDP of USD 1.3 trillion in 2023, the four EFTA States rank highly based on global indicators for competitiveness, wealth per capita, life expectancy and quality of life.¹ Sectors such as pharmaceuticals, seafood, financial and maritime services, and industrial products show especially strong performances within the EFTA States.

Indonesia is a fast-growing Asian economy with a sizeable consumer base of around 140 million people. In 2023, Indonesia’s GDP growth was 5%, over two percentage points above the world’s average GDP growth.²

Between 2018 and 2023, merchandise trade (excluding gold and precious metals) between the EFTA States and Indonesia grew by around 10% annually. During this period, imports (excluding gold and precious metals) from Indonesia to the EFTA States increased yearly by 19.7% on average.³

In 2023, total merchandise trade between the EFTA States and Indonesia was valued at around EUR 1.6 billion, with EFTA’s exports to Indonesia amounting to EUR 576 million and imports from Indonesia to the EFTA States reaching EUR 1.0 billion. EFTA’s primary exports to Indonesia included machinery and mechanical appliances, pharmaceutical products, organic chemicals, and optical and medical instruments. EFTA’s imports from Indonesia were largely composed of nickel and nickel articles, footwear, woven apparel and accessories, and electrical machinery.