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Thursday, 25 May 2023 12:37

Indonesia, Luxembourg Explore ICT and Islamic Finance Cooperation

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VOInews, Jakarta: Minister of Foreign Affairs Retno Marsudi received a visit from Luxembourg Foreign Minister Jean Asselborn at the Ministry of Foreign Affairs Building, Jakarta. During the meeting the two ministers discussed a number of issues ranging from bilateral cooperation between the two countries, Indonesia and the European Union to regional and global issues.

"First we discussed economic cooperation. I welcome the significant growth of Luxembourg's investment in Indonesia which increased by 732 percent in the first quarter of 2023," he said in a statement delivered after the meeting, Thursday (25/5).

In addition to the increase in Luxembourg's investment in Indonesia, according to Retno, the value of trade between the two countries has also increased by 15 percent over the past 5 years. To increase bilateral cooperation between the two countries, according to Retno, the two foreign ministers also discussed the possibility of developing cooperation in the fields of information and communication technology to Islamic finance.

"We are exploring further possibilities to cooperate with Luxembourg in building Information and Communication Technology infrastructure and exchanging expertise and sharing best practices in the field of Islamic finance," she said.

Another area also discussed in the bilateral meeting between Foreign Minister Retno Marsudi and Luxembourg Foreign Minister Jean Asselborn was cooperation in transportation and logistics. According to him, Minister Asselborn will sign a Memorandum of Understanding with Minister of Transportation Budi Karya Sumadi regarding the Air Service Agreement.

"This agreement will encourage connectivity and facilitate business opportunities, especially in the cargo sector," she said.

In the health sector, Retno Marsudi explained that investment cooperation in the health sector is now more important than ever. She welcomed Luxembourg's investment to build a medical refrigerator production facility in Depok, which has been operating since October last year.

"We hope this technology can contribute to improving health facilities, strengthening vaccine production capabilities, and making Indonesia part of the global medical supply chain," she said.

Regarding cooperation between Indonesia and the European Union, Retno said Indonesia and Luxembourg share the same view on the importance of finalizing the Indonesia-EU Comprehensive Economic Partnership Agreement (Indonesia-EU CEPA) negotiations as soon as possible.

"Confidence-building efforts are needed for Indonesia and the EU to reach the finish line of the negotiations," she explained.

On the occasion, Indonesia also expressed concern over the passing of the EU Law on Deforestation. According to him, he had also conveyed this when receiving the Slovenian Foreign Minister the day before.

"A joint mission of Indonesia and Malaysia will visit Brussels at the end of May to discuss this situation," he said.

Meanwhile, on regional and global issues, Foreign Minister Retno Marsudi welcomed Luxembourg's support to ASEAN, including ASEAN Centrality and the implementation of the 5 Points of Consensus (5PC) to address the Myanmar issue.

She also conveyed the importance of all countries prioritizing and contributing to making the Indo-Pacific a peaceful and stable region. According to him, the ASEAN Outlook on the Indo-Pacific initiated by Indonesia, believes that inclusive and concrete cooperation will contribute to achieving peace and prosperity in the region. (VOI)

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