Taiwan and Indonesia sign MOU on comprehensive economic collaboration

This MOU on comprehensive economic collaboration with Indonesia is another effort by Taiwan to push forward with the New Southbound Policy

Taiwan and Indonesia have signed a Memorandum of Understanding (MOU) on Monday to boost economic exchange and to advance collaboration between the two countries in compliance with Taiwan’s New Southbound Policy.

On Nov. 19, the MOU signing ceremony between Taiwan Representative Chen Chung-yu and his Indonesian counterpart, Didi Sumedi, was held in Taipei City with the presence of Minister and Vice Minister of Economic Affairs, Shen Jong-chin and Wang Mei-Hua.

Under the agreements, the two sides will establish an institutional communications platform to hold bilateral discussions on several topics such as special economic zones, trade, investment, real estate, agriculture, administrator training and so forth, CNA reported.

Additionally, a special assistance group will be designated to support Taiwanese enterprises in their effort to grasp business opportunities in Indonesia, as well as to improve the visibility and market share of Taiwanese businesses in the foreign country.

As for Indonesia, industrial upgrades, job opportunities, and rising economic growth via foreign investment have been presented as their needs in collaborating with Taiwan authorities, reports said.