5th – 7th April, 2011
The Duke visits Jakarta, Indonesia
Picture: The Duke meets the Indonesian Foreign Minister
Summary
The Duke of York’s second official visit to Jakarta, Indonesia.
Key meetings and engagements included:
– President Susilo Bambang Yudhoyono
– Minister of Foreign Affairs
– Co-ordinating Minister for Economic Affairs
– Minister for Finance
– Minister for Trade and the Chairman of the Investment Co-ordinating Board
– IndonesiaChamber of Commerce (KADIN) and the British Chamber of Commerce in Indonesia
His Royal Highness also met with many Indonesian and British businesses at a number of other events, including a meeting of the Alliance of Low Carbon Businesses in Indonesia, an Infrastructure Roundtable and a luncheon with Indonesian entrepreneurs.
The objective of all of these engagements was to demonstrate a commitment to expanding trade and investment and to build on the already excellent relationship between Indonesia and the UK.
UK / Indonesia Fact File
– Indonesiais the world’s sixteenth largest economy (2010 estimate).
– Indonesiais a high risk and high reward market, of 240 million consumers.
– GDP growth in 2010 was 6.1%.
– The UK was the second largest investor in Indonesia in 2010.
– In 2010, UK exports to Indonesia totalled £439m.
– This compares to Indonesian exports to the UK of £1.3bn.
The UK has a strong presence in the financial services sector and the oil and gas industry. There are significant opportunities for the UK in infrastructure and construction, fast moving consumer goods, pharmaceuticals, education, healthcare, and creative ICT related industries.
Indonesiaestimates that US$150bn is required for infrastructure development up to 2015, and that two thirds of that will need to come from external funding.UKcompanies have the skills, technology, expertise and products that will help Indonesia to develop a sustainable model of growth towards a successful and low carbon economy.
Source: FCO/UKTI
Full Visit Report
The Duke of York visited Jakarta from the 5th to the 7th April, 2011. In meetings with The President and five different Cabinet members, His Royal Highness discussed opportunities to expand UK trade and investment activities with Indonesia. These engagements promoted greater recognition and understanding of what the UK can offer Indonesia in support of its long-term economic development.
In addition to his meetings with Government officials, The Duke of York engaged with senior Indonesian and UK business representatives, taking part in discussions on Infrastructure and Energy, two sectors with significant potential for UK trade and investment. His Royal Highness attended the launch of the new Indonesian subsidiary of the British Standards Institute and witnessed the signing of the first ever MOU for a joint PhD between the University of Newcastle and the University of Indonesia.
The Duke of York received briefings from British companies across a wide range of sectors, including oil and gas, financial services, pharmaceutical and retail and consumer goods. His Royal Highness was able to relay to the Indonesian Government the consistent message that there is huge optimism surrounding the opportunities to do business in Indonesia, but further regulatory development is required to make Indonesia a more open and more competitive market to do business in.
His Royal Highness also participated in a meeting of the Alliance of Low Carbon Businesses in Indonesia (ALBI), an initiative funded by the FCO’s Strategic Programme Fund to enable British and Indonesian companies to develop policy recommendations to speed up Indonesia’s transition to a low carbon economy.
This visit emphasised the commitment the UK has to the relationship with Indonesia, and highlighted the skills and expertise UK enterprise can offer to support Indonesia in developing its long-term growth objectives. There are significant opportunities in Indonesia for UK businesses and it was clear that the UK is regarded by Indonesian officials as a key partner for its economic development.