Indonesia agreed to enhance industrial cooperation with Bangladesh and Sri Lanka during the second Regional Conference on Industrial Development (RCID), held on November 10-11, 2021 in Jakarta.
“Indonesia is constantly enhancing comprehensive cooperation with partners countries, such as Bangladesh and Sri Lanka. The synergy is expected to strengthen involving countries’ economy amidst the impact of the COVID-19 pandemic,” Industry Minister Agus Gumiwang Kartasasmita said in a statement received here on Thursday.
The minister said he held separate bilateral meetings with his Bangladeshi and Sri Lankan counterparts during which they agreed to enhance cooperation in the industry sector to boost economic recovery in each country and in the region as well. The cooperation would focus on digital transformation or the implementation of Industry 4.0, he informed.
“As stated by President Joko Widodo at the opening of the 2nd RCID, digital transformation could increase productivity, efficiency, and industry added value; hence, it would establish inclusive and sustainable industry development,” Kartasasmita said.
The implementation of Industry 4.0 has become an instrument for developing an independent, sovereign, advanced, and competitive industrial sector, he added.
“Indonesia has launched a road map of Making Indonesia 4.0 that focuses on seven sectors, namely food and beverage industry, textile and garment, automotive, chemical, electronic, pharmaceutical, and health care devices,” he elaborated.
The seven sectors, he said, would increase the contribution of the manufacturing sector to the gross domestic product (GDP), boost exports, and create more jobs, he added.
During the meeting with Bangladesh Industry Minister Humayun, Kartasasmita discussed the progress in the joint operation agreement between Indonesia’s PT GMF AeroAsia and Biman Bangladesh on Maintenance Repair and Operation (MRO) services.
“We also highlighted the success of PT INKA (state-run railway firm) in the procurement of 400 train coaches to Bangladesh, and the follow-up on assessment of LNG supply to PetroBangla,” he informed.
The minister also urged Indonesian business operators investing in Bangladesh to expand their product lines through the Bangladesh Investment Development Authority (BIDA).
Meanwhile, Humayun lauded the RCID-2 as a forum for enhancing bilateral cooperation, especially in the industry sector.
“Bangladesh sees that the cooperation in industry and investment could be expanded, especially the development of industrial estates in the two countries,” Humayun said.
During the meeting with Sri Lankan Industry Minister Wimal Weerawansha, Kartasasmita emphasized the potential for cooperation in technical and vocational education training (TVET).
“We want to build cooperation with Sri Lanka on education and vocational training in schools and polytechnics under the Industry Ministry’s management, as well as cooperation on research and development and textile industry innovation,” the minister added.
Indonesia recorded a trade surplus with Sri Lanka during the last decade, with average trade value pegged at US$252 million per year.
The bilateral trade in the third quarter of 2021 reached US$333.3 million, with Indonesia’s exports valued at US$299.7 million and imports pegged at US$33.5 million.
Source: Antara News