Indonesian Deputy Foreign Minister Pahala Nugraha Mansury expressed hopes that the Indonesia-South and Central Asia or INASCA Business Forum held, would catalyze strengthening economic partnerships between Indonesia and the region. The forum included a varied range of exhibitors, with two ministries/agencies, four state-owned enterprises, and eight private companies and sectors including energy, agriculture, technology, cosmetics, and the creative economy.
“We hope for INASCA to become an annual event that drives economic growth”, Pahala remarked.
As observed by Tempo, the exhibition also included six micro, small, and medium enterprises (MSMEs) supported by Bank Indonesia, Bank Negara Indonesia (BNI), and HIPMI Womenpreneur, offering a variety of products such as fashion, spices, and processed food and beverages. Additionally, two foreign exhibitors from Pakistan and Sri Lanka participated in the forum.
About 203 businesspeople from South and Central Asia and 257 Indonesian businesspeople from diverse sectors, including agriculture, energy, electronics, manufacturing, household needs and lifestyle, health and beauty, and tourism, attended the event. The INASCA Business Forum 2024 attracted interest from both domestic and international business communities.
The forum provided an invaluable platform for participants to engage in one-on-one business matching, fostering collaboration and partnership opportunities among Indonesia, South Asia, and Central Asia. In 2018, Indonesian Foreign Minister Retno Marsudi articulated Indonesia's strategic plan to strengthen cooperation with five countries in South Asia. To concretize this aspiration, Indonesia proposed a Preferential Trading Arrangement (PTA).
“Several countries have confirmed and expressed positive support for the PTA proposal, while others have suggested exploring a more comprehensive Free Trade Area (FTA)”, Retno stated. According to her, Indonesia, while open to pursuing an FTA, has advocated for a gradual approach. Consequently, in collaboration with the Indonesian Ministry of Trade, negotiations and discussions have been initiated to pave the way for a mutually beneficial trade agreement.
Indonesia's dedication to upholding peace serves as a cornerstone of its engagement with the region. Indonesian President Joko Widodo has also prioritized support for friendship and peace with the five countries in South Asia.