The Foreign Affairs Minister of Indonesia and Finland’s Foreign Minister convened in Helsinki in June 2024 to explore enhancing bilateral collaboration, particularly focusing on green energy and smart cities. The Indonesian minister disclosed that private sector entities from both nations, namely Medco Group and Valmet Technologies, have committed to collaborating to construct a biomass-to-energy processing plant in Merauke, Papua. This facility is expected to have a capacity of around 3.5 megawatts. It could reduce diesel oil consumption by up to 27.5 million liters over five years if the project proceeds as planned.
Meanwhile, addressing the collaboration between smart cities, the Indonesian minister highlighted an existing memorandum of understanding (MoU) between the Nusantara Capital Authority (OIKN) and the Finnish Ministry of Economic Affairs. She expressed optimism that the MoU would facilitate additional collaboration in advancing Indonesia’s new capital city, Nusantara, particularly welcoming Finnish investment in the new capital.
Finland continues to be a significant trading partner for Indonesia within the Nordic region, with bilateral trade showing a consistent upward trend and surpassing pre-pandemic levels. Data from the Indonesian Ministry of Foreign Affairs indicates that in 2023, trade between the two countries amounted to USD 713 million, a 22% increase compared to 2019. The first quarter of 2024 saw a further surge in trade, with a 40% increase compared to the same period in 2023, underscoring the strengthening economic ties between Indonesia and Finland.
The Indonesian minister confirmed that she and the Finnish foreign minister have agreed to explore further opportunities to boost trade. They also discussed educational cooperation and welcomed the inaugural Indonesia-Finland Joint Working Group on Higher Education and Teacher Capacity Development held in September 2023.
(Source: ANTARA News)
