Indonesia To Target Automotive Spare parts Market In Latin America
The Indonesia-Latin America and the Caribbean (INA-LAC) Business Forum 2023, which will be hosted in Jakarta on October 16 and 17, will target the Latin American automotive spare parts market. According to Umar Hadi, Director General of American and European Affairs at the Ministry of Foreign Affairs, automobile spare parts are among viable export commodities due to their significant market share in Latin America and the Caribbean.
In addition, Indonesia has very large opportunities to export pharmaceutical and furniture products to Latin America and the Caribbean, he added ,as per antaranews
"We hope when business actors meet (at the INA-LAC forum) there will be more productive interactions," Hadi said at a press conference in Jakarta on Monday.
The INA-LAC business forum, which has been organized since 2019, aims to facilitate connections and discussions between corporate actors and potential investors from Indonesia and the Latin America and Caribbean region. Plenary sessions, panel discussions, business networking, business pitching, and business matching will all be part of the event.
Hadi stated that he expects 100 companies from the Latin American and Caribbean regions to attend this year's annual meeting. He stated that staging INA-LAC this year is vital for expanding Indonesia's markets in Latin American countries because the business world's attention will be focused on the Latin American region next year when Brazil holds the G20 Summit.
Peru, another Latin American country, will host the Asia-Pacific Economic Cooperation (APEC) meeting next year. Sinta W. Kamdani, Deputy Chairperson for Maritime, Investment, and Foreign Affairs Coordination at the Chamber of Commerce and Industry, stated that the Latin American and Caribbean region had enormous market potential.