Lithuanian businesses discovering Indonesia’s market – formin

VILNIUS – Lithuania’s businesses are discovering Indonesia’s market and bilateral trade is growing, Foreign Minister Gabrielius Landsbergis has said while visiting Indonesia together with the Lithuanian business delegation.

“I am delighted that our bilateral trade is growing rapidly. From high-tech to the energy sector and food industry, our companies are discovering Indonesia and are ready to establish themselves in the market,” a press release from the Foreign Ministry quoted him as saying after a meeting with Indonesia’s Coordinating Minister for Economic Affairs Airlangga Hartarto on Monday.

According to the data provided by the ministry, bilateral trade between Lithuania and Indonesia soared by 106 percent to 58 million euros in 2022 whereas exports surged by 206 percent to 37 million euros.

A Memorandum of Understanding between the Lithuanian Confederation of Industrialists and the Indonesian Chamber of Commerce and Industry will also be signed in Jakarta on Monday.

During a meeting with Foreign Minister Retno Marsudi, the head of Lithuania’s diplomacy underlined that the country was ready to establish mutually beneficial partnerships in Southeast Asia while contributing to global initiatives strengthening rules-based cooperation.

Landsbergis said both sides were interested in diversifying supply chains, strengthening cybersecurity and building resilience to hybrid threats. Lithuania supports the conclusion of a free trade agreement between the European Union and Indonesia as soon as possible.

The head of Lithuania’s diplomacy also noted that both countries believed in a democratic free market policy. Therefore, Lithuania strongly supports Indonesia’s aspiration to become a member of the OECD and is ready to share its latest accession experience.