Luxembourg-Indonesia relationship to be strenghten
Luxembourg-Indonesia investment relationship to get strenghtened | Luxembourg’s Foreign Minister is due to visit Jakarta on Tuesday, may 30, to strenghten relations with Indonesia especially in finance and investment.
Indonesia and Luxembourg are expected to sign an agreement on air transport during the Asia-Europe Meeting (ASEM) Air Transport Ministerial Meeting in Bali this year.
In 2016, Luxembourg was the fourth biggest investor in Indonesia among European countries, it invested over $180 million in 117 projects in Indonesia last year, mostly in infrastructure. That was a significant increase compared to 2015 when their total investments were valued at a low $25 million.
Foreign Ministry’s European Director Dino Kusnadi said the ministers will also discuss cooperation in air transport, as well as financial development in the European Union and the Association of Southeast Asian Nations (ASEAN).
“A range of co-operations in finance will be discussed with the related ministries and institutions, such as Bank of Indonesia (BI) and the Indonesian Financial Services Authority (OJK),” Dino said, adding that #Indonesia has a lot to learn in banking access and regulations from#Luxembourg.