Past Events

The Indonesia section of the ASEAN-Hong Kong FTA entered into force in July, marking a new chapter for Indonesia-Hong Kong business relations.

Consul General of Indonesia Ricky Suhendar updated members on the latest developments in the country at a Chamber webinar on 17 September. He was joined by Yuri Triantoro, Director for ASEAN Negotiations at the Ministry of Trade of Indonesia, and HSBC Indonesia Country Manager Francois de Maricourt, who shared their insights into the business environment and investment opportunities.

Consul General Suhendar said that it was more important than ever for economies in Asia to enhance regional cooperation, as international geopolitical disputes were heating up. He explained that Indonesia was working on setting up more special economic zones (SEZs) in the country to further enhance economic cooperation with Hong Kong and Mainland China.

Triantoro said that Hong Kong was becoming an increasingly important trading partner for Indonesia, and that trade between the two economies was projected to increase by almost 7% annually. The path ahead for the country was not without challenges, he added, as Indonesian goods faced strong competition from other ASEAN countries, and there was room to improve the quality of such goods to meet Hong Kong’s high product standards.

De Maricourt introduced the business environment in the country and discussed the incentives available for foreign investors. He said that one of the main issues in Indonesia was the lack of transparency and large volume of bureaucracy. However, he noted that the government had recognized these issues and was actively working to cut red tape and improve its ease of doing business.