EU Delegation visits NTB, explores investment and trade opportunities

The European Union (EU) Delegation to Indonesia and representatives of the EU Member States are on a two-day visit to the Province of West Nusa Tenggara (NTB) to meet with business actors, discuss trade and investment opportunities between NTB and the EU and raise awareness on the on-going EU-Indonesia Comprehensive Economic Partnership Agreement (CEPA) negotiations.

“The West Nusa Tenggara province has untapped potential in trade and investment sectors, especially in green and digital economy, which are in line with EU priorities. Moreover, the Mandalika Special Economic Zone offers a great opportunity to boost economic activities in the province," said EU Ambassador to Indonesia, Vincent Piket.

The chairman of the NTB Province Chamber of Commerce and Industry (KADIN), Haji Faurani, appreciates this visit and expressed his hope that trade and investment opportunities on leading economic sectors in Lombok and Sumbawa can be explored in this meeting. Faurani further explained that NTB is currently under the world’s spotlight, especially in the tourism sector. Tourism in NTB has experienced a setback in the past few years due to the earthquake and the Covid-19 pandemic, but with the successful development of the Mandalika Special Economic Zone, particularly the construction of the Mandalika Circuit, the World Superbike and MotoGP events, NTB tourism has started to recover and the next MXGP will also be held on Sumbawa Island at the end of 2022.

Faurani said, ”As the main partner of the NTB Government, the NTB KADIN is aiming for stronger trade relations with foreign partners and more  investment in the province. The Mandalika Special Economic Zone and other tourism destinations such as Senggigi, Mount Rinjani Park, Samota on Sumbawa Island and others require domestic and foreign investment to build facilities and infrastructure that support tourism such as hotels, residential areas, convention venues, resorts, plazas and shopping centres,” he added. "With the rise of tourism, the demand for small and medium-sized enterprise (SME) products will grow – both from the domestic tourism and export markets – thus increasing the sales of SME products and contributing to the people's welfare," concluded Faurani.

During the visit, the EU Delegation and KADIN NTB held two panel discussions entitled 'Strategies to Access European Markets' and 'Trade and Investment Opportunities for NTB – European Union' which were attended by representatives of the EU Member States in Indonesia, representatives of the Ministry of Trade of the Republic of Indonesia, the Chamber of Commerce and Industry (KADIN) NTB, association and groups of NTB entrepreneurs, the Indonesian Young Entrepreneurs Association (HIPMI) NTB, Business Women Association (IWAPI), Association of Tour and Travel Agency (ASITA), Hotel and Restaurant Association (PHRI), and business actors. This visit to NTB is a continuation of the EU’s series of Trade & Investment Visit to several provinces in Indonesia.