Join the Canada-ASEAN Business Council (CABC), ICCC, KADIN, Quebec Government Office in Singapore, Saskatchewan Singapore Office, and our members and partners in Indonesia and Canada to explore business opportunities for shared economic success and prosperity. This event is part of the Canada-ASEAN Business Leaders Series 2021 organized by the CABC in partnership with the Government of Canada. The event will be followed by a CABC Market Entry Workshop and Networking Session.
- Provided an update on the business environment and opportunities in Indonesia
- Discussed what opportunities the Canada-Indonesia economic relations has to offer to exporters and investors, and learnings from successful Canadian businesses operating in the market
- Raised awareness and support for bilateral trade opportunities
- Offered networking opportunities for the Canada-ASEAN business community
The CABC was pleased to host the Advancing Canada-Indonesia Economic Relations virtual event on April 7th in partnership with the Indonesia Canada Chamber of Commerce (ICCC), Indonesian Chamber of Commerce and Industry (KADIN), Quebec Government Office in Singapore, and the Saskatchewan Singapore Office.
Followed by a Market Entry Workshop and Networking Session, this event was part of the Canada-ASEAN Business Leaders Series 2021, organized by the CABC in partnership with the Government of Canada, and supported by 7 CanChams and Business Councils based in Southeast Asia.
In November 2020, the Indonesian government enacted the Omnibus Law to attract investment, create new jobs, and stimulate the economy. The Omnibus Law will be key to post-pandemic recovery and economic growth including simplifying licensing processes, centralizing different laws and regulations, and creating a conducive environment for businesses and foreign investment.
In addition to the Omnibus Law, Indonesia’s rising middle class and its increasing consumption patterns has allowed the country to become a top trade and investment destination. With a large and young population, Indonesia is also an ideal place to test out new technologies.
Furthermore, Indonesia also has shown great potential in further building out its infrastructure sector, as the country continues to invest capital into roads, ports, and airports. In addition to tech and infrastructure, other attractive areas of investments include agriculture, private equity, tourism, health, and education sectors.
Canada-Indonesia Trade Relations
There is much room for Canada and Indonesia to grow its trade relations, with Indonesian exports to Canada averaging to about only 0.3% of Indonesia’s total exports to the rest of the world. Similarly, although Canadian investment in Indonesia is quite stable, it has never exceeded more than $190M USD in the past 10 years.
As such, both countries would benefit greatly from a Canada-Indonesia Comprehensive Economic Partnership Agreement (CEPA) that is currently being explored, which would realize the untapped trade and investment potentials in a wider range of industries.
Tips on entering the Indonesian market:
- As a multicultural country, it is important to understand the cultural contexts of your target markets in Indonesia, given that different regions will have different ways of doing business
- Having business partners on the ground is important to understand cultural and legal nuances
- There will be major digital shift in businesses in the near future as Indonesia continues to move towards being a technologically advanced country