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Indonesia, Growing Fast: Sir Andrew Cahn
08/03/2010
By Bob Northgate
Sir Andrew Cahn, Chief Executive of UK Trade & Investment (UKTI) will this week visit Indonesia, one of UKTI’s priority high growth markets, where he will support the Government in its stated aim of opening up to foreign investors.
Sir Andrew said:
“Indonesia is a country that is growing fast, and not just in terms of GDP. It is a powerful voice in the G20 and a rapidly developing economy in a prosperous part of the world. At a time when countries around the world were suffering as part of the global recession, Indonesia achieved impressive levels of growth.
“We strongly support the Indonesian Government in maintaining open markets and rejecting protectionist measures. The centre of economic power is moving to the East, and Indonesia will be one of the beneficiaries of this.
“The UK welcomes investment from Indonesia, and UK firms are interested in exploring the investment potential in one of the most promising markets in Asia. I look forward to meeting businesses and hearing how we can help promote bilateral trade between our two countries.”
Sir Andrew Cahn is due to meet the Deputy Minister for Trade, the Vice Chairman of Indonesia Investment Board Agency (BKPM) and other senior Indonesian officials. His visit follows up on the visit by Lord Davies of Abersoch, the UK Minister for Trade, Investment and Small Business to Indonesia in November last year.
UK-Indonesia factfile
o Indonesia is the fourth most populous country in the world (230 million), with a growing, affluent, middle class of some 35 million people (a larger market than Malaysia or Australia).
o Indonesian exports of goods to the UK were £1.16 billion in 2009 and UK exports of goods to Indonesia were £350 million.
o The UK is a leading investor in Indonesia with Foreign Direct Investment Planning Approvals worth US$119.9 million in January 2009.
o Total UK investments are estimated at over $20 billion. They include Jardines, BP, Rio Tinto, Premier Oil, Shell, Unilever, HSBC, Prudential, Astra Zeneca and Standard Chartered.
o Retail, ICT, financial services, environment, life sciences and energy are all sectors with good prospects for UK companies.
o The UK’s top exports to Indonesia include: pulp and waste paper, road vehicles and specialist machinery.
o The UK’s top imports from Indonesia are: clothing, coal, footwear and furniture.
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