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May 19, 2022

Romania, Indonesia sign Memorandum of Understanding on development of business opportunities

Indonesia and Romania have expressed their will to boost economic ties through the signing in Jakarta on Wednesday  of a Memorandum of Understanding aimed at the development of the two countries’ trade relations and of business opportunities, with shipbuilding and maritime transport seen as major areas of interest.

Participating in the document signing event on Romania’s behalf were Foreign Minister Lazar Comanescu and Secretary General of Romania’s Chamber of Commerce and Industry (CCIR) Traian Caramanian.

“We are convinced that this document will lead to a significant revival of the relations between our business communities and a redressing of our countries’ trade balance. We think that the rapprochement of our Chambers of Commerce will also mean a breakthrough in the investment opportunities Romania offers to foreign companies, especially those in areas with dynamic economies, like Indonesia is. We invite Indonesian companies to use Romania as a gateway to the European Union’s market (…). The signals we directly receive from Romanian companies confirm their desire to expand their business and explore new markets,” said Traian Caramanian.

In his turn, ForMin Lazar Comanescu highlighted the special importance Romania attaches to intensifying economic and commercial ties with Indonesia and the fact that the implementation of the MoU will add value to efforts to develop bilateral economic relations.

According to the CCIR, the two states’ economic priorities envisage a range of opportunities for bilateral cooperation in shipbuilding and maritime transport. Also, the Romanian side underscored the need to capitalize on the meeting of the bilateral joint committee to stimulate relations between companies while increasing the number of economic missions in the two countries.

According to official data, Romania – Indonesia trade exchanges stood at 112 million euro at the end of 2015. Romania’s exports reached 9.5 million euro, which resulted in a negative balance of minus 94 million euro.


Extension of commercial relations discussed by ForMin Comanescu and Indonesian Transport, Commerce ministers


Increasing economic and commercial exchanges between Romania and Indonesia was the central topic of discussions carried out by Minister of Foreign Affairs Lazar Comanescu and Indonesian Minister of Commerce, Enggartiasto Lukita, and Indonesian Minister of Transport, Budi Karya Sumadi, during the former’s official visit to Indonesia.

The Romanian minister and the Indonesian Minister of Commerce hailed the signing of a Memorandum of Understanding between the Chambers of Commerce of the two countries, an important instrument to stimulate bilateral economic cooperation. Furthermore, the two officials convened to ensure tighter contact and better information of the business communities in Romania and Indonesia, including by modernizing cooperation mechanisms and encouraging Romanian and Indonesian companies to participate in economic promotion events, a Wednesday release of the Ministry of Foreign Affairs (MAE) informs.

During his meeting with the Indonesian Minister of Transport, the head of Romanian diplomacy emphasized, in discussions, the significant potential to extend bilateral cooperation between the two countries in the maritime sector, the shipbuilding sector and harbor infrastructure sector.

At the same time, the Romanian dignitary highlighted Romania’s capacity to become a maritime access gate of Europe for Indonesia. In that context, the Minister mentioned the main characteristics and competitive advantages of Constanta Harbor, the Danube-Black Sea Channel, as well as the naval and river construction sector of our country. In his turn, Minister Budi Karya Sumadi expressed openness for a comprehensive evaluation and capitalization of concrete collaboration opportunities.

“The fact is, last night, upon my arrival to Indonesia, the Chambers of Commerce and Industry from both Indonesia and Romania have signed a Memorandum of Understanding on their cooperation. The agreement has opened up the path for both chambers to diversify contact between business players from both countries,” Comanescu said following a bilateral meeting with his Indonesian counterpart, Foreign Minister Retno LP Marsudi, in Jakarta on Wednesday.

Comanescu brought a team of business delegates from various industries, including energy, construction, customer goods and agriculture. While in Indonesia he is also participating in the Trade Expo Indonesia 2016. Trade between Indonesia and Romania reached US$117.64 million in 2015.

Comanescu’s visit to Indonesia is the first from a Romanian foreign minister since relations between the two countries were established 66 years ago.

Both Retno and Comanescu highlighted the potential for strengthening cooperation in infrastructure development.

“There is a possibility for our two countries to strengthen bilateral relations in infrastructure because it is one of the priorities of the Indonesian government,” Retno said, according to the Jakarta Post.

According to a release of Romania’s Ministry of Foreign Affairs,  the  relaunching of commercial and economic cooperation was agreed upon during the official talks between the two foreign ministers and business forums and councils of businessmen of the two countries will be set up, together with the resumption of works by the Joint Commission.

The common objective of intensifying bilateral political dialogue as a means to stimulate collaboration in all domains was also emphasized during the meeting.

Furthermore, Comanescu and Retno expressed satisfaction for the consolidation of the bilateral legal framework through the entry into force, on October 7, of the Bilateral agreement regarding cooperation in preventing and combating transborder organized crime, terrorism and other international crimes – an extremely important domain of collaboration in the context of current challenges faced by international security.

The two ministers underlined the interest for intensifying bilateral collaboration in the sphere of education, science and culture by extending or updating the legal bilateral framework for these domains.

The also exchanged opinions regarding developments on the international stage, placing emphasis on the particular relevance of international cooperation in identifying and implementing efficient solutions to major problems such as terrorism or migrations.

The head of Romanian diplomacy addressed an invitation to his Indonesian counterpart to visit Romania, an invitation that was accepted.


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