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08 Jan 2020

Foreign Affairs Ministry of the Republic of Indonesia and Indonesia Eximbank Agreed on Cooperation to Support Economic Diplomacy

Jakarta, January 8, 2020- In order to support the implementation of the mandate to increase Indonesian exports, the Indonesian Export Financing Agency (LPEI) / Indonesia Eximbank strengthened institutional cooperation by signing 2 (two) Memorandum of Understanding namely:

1. Memorandum of Understanding between the Ministry of Foreign Affairs and the University of Indonesia and the Indonesian Eximbank on Capacity Building Cooperation to support Economic Diplomacy.

2. Memorandum of Understanding between the Ministry of Foreign Affairs of the Republic of Indonesia and LPEI concerning Capacity Building of Exporter & Importers through Technical Education and Training for Developing Countries in the “South South Cooperation Framework”.

The signing was carried out in between schedules of the Minister of Foreign Affairs 2020 Annual Press Statement on January 8, 2020 at the head office of the Indonesian Ministry of Foreign Affairs.

Memorandum of Understanding for Development of Capacity to Support Economic Diplomacy

In the Memorandum of Understanding on Capacity Building to Support Economic Diplomacy, the scope of cooperation between the Indonesian Ministry of Foreign Affairs, University of Indonesia and Indonesia Eximbank is as follows:

1. Launch of a study and formulation of policy recommendations regarding the potential for trade cooperation to support economic diplomacy.

2. Analysis, processing and data protection as well as policy recommendations related to Indonesia's outbound investment.

3. Training to improve the analytical skills of officials / staff of the Indonesian Ministry of Foreign Affairs in order to support economic diplomacy.

This MoU was signed by Secretary General of the Indonesian Foreign Affairs Ministry Mr. Mayerfas, Rector of University of Indonesia Prof. Ari Kuncoro, S.E., M.A, Ph.D and Executive Director of Indonesia Eximbank Mr Daniel James Rompas.

Through this Memorandum of Understanding, Indonesia Eximbank is expected to be able to help the Government strengthens Indonesia's economic diplomacy both through policy recommendations and capacity building training. In addition, access to cooperation with a number of countries owned by the Indonesian Ministry of Foreign Affairs and good economic diplomacy can be utilized by Indonesia Eximbank to increase Indonesia's exports to various countries.

Indonesia Eximbank has produced a number of studies related to opportunities and potential exports to several regions such as Africa, Latin America and the Caribbeans (Road to Africa and Road to Latin America and The Caribbean) as well as experience in helping SOEs to penetrate markets to new export destinations.

Memorandum of Understanding on the Capacity Building of Businesses and Exporters & Importers

Meanwhile, in the Memorandum of Understanding on Capacity Building of Business Players and Export and Import Stakeholders through Technical Education and Training for Developing Countries in the “South South Cooperation Framework”, the scope of cooperation between the Ministry of Foreign Affairs and Indonesia Eximbank is the capacity development of exporters & importers through education and training for developing countries within the framework of “South-south Cooperation”. Capacity building referred to in this collaboration is the making of a potential mapping study, sending experts, conducting training in Indonesia and in the area of ​​developing and providing financing facility in the form of buyers credit.

The parties who signed this memorandum of understanding were the Director General of Information and Public Diplomacy of the Ministry of Foreign Affairs of the Republic of Indonesia as the Chairperson of the Working Group of Proposed Grants for the Government / Foreign Institution Cecep Herawan and Indonesia Eximbank Executive Director Daniel James Rompas.

Indonesia Eximbank Executive Director Daniel James Rompas has stated that "Our joint agreement with the Indonesian Ministry of Foreign Affairs and the University of Indonesia is one of our steps to support the Government of Indonesia in supporting economic diplomacy. Good economic diplomacy will later become one of the supporting factors for exporters to penetrate the markets of various countries globally”.

As a Special Mission Vehicles (SMV) of the Ministry of Finance of the Republic of Indonesia established under Act No. 2 of 2009, Indonesia Eximbank has a role as a facilitator, accelerator, aggregator, and arranger for export activities. In order to carry out this role, Indonesia Eximbank together with the Indonesian Ministry of Foreign Affairs provides a number of trainings that will increase the capacity of both importers and exporters abroad. In addition, this collaboration also opens space for Indonesia Eximbank to be able to increase exports and investment to these countries.

Cooperation between the Indonesian Ministry of Foreign Affairs and Indonesia Eximbank has been established well. The Indonesian Ministry of Foreign Affairs has facilitated several international events and trade missions to various non-traditional countries which can also be utilized optimally by Indonesia Eximbank to encourage increased Indonesian exports. In the future, it is hoped that Indonesia's increasingly better economic diplomacy can increase national exports as a whole.