The European Union (EU) has granted Indonesia USD 16.37 million (IDR 232 billion) through a four-year program called ARISE+. The program aims to boost the country’s export competitiveness and integration into the global value chains.
The program intends to advance the country’s expertise in negotiating free trade agreements, improve the quality Infrastructure required to boost export of key products, such as agri-food and fisheries, and will promote Indonesia’s Geographical Indications (GIs). The program will also support women’s economic empowerment and the involvement of small and medium-sized exporters in global value chains.
ARISE+ Indonesia is implemented in partnership with National Development Planning Agency (BAPPENAS), the Ministry of Trade, the Ministry of Law and Human Rights, the Ministry of Marine Affairs and Fisheries, among other stakeholders. The Investment Coordination Board (BKPM) will also use the fund to conduct a study on how to better target and prioritize sectors for investments.
To further the economic ties between the two regions, the EU and Indonesia are currently in the process of negotiating a Comprehensive Economic Partnership Agreement (CEPA). Upon completion, the trade agreement will enable increased trade in goods and services and more investment opportunities.
(Source: The Jakarta Post)