Jakarta. The Swiss State Secretariat for Economic Affairs, or SECO, will supply grants of 65 million Swiss francs, or about $718 million, for the next four years to assist Indonesia’s financial development.
On Thursday, SECO renewed its economic development cooperation with Indonesia for 2021-2024– making it the fourth cycle since the very first one in2009
” Over the next 4 years, SECO will offer at least 65 million Swiss francs in grants to support the new program. Our present engagement in Indonesia consists of more than 30 active tasks, in partnership with 15 executing partners and 10 ministries,” SECO director Marie-Gabrielle Ineichen-Fleisch informed an online conference on Thursday.
According to Ineichen-Fleisch, SECO will promote Indonesia’s effective public organizations, generally in city areas, and empower the regional micro, small, and medium business (MSMEs).
Support for the MSME sector– Indonesia’s main task production driver– is vital for the nation’s financial healing from the Covid-19 pandemic.
Also, Swiss will help promote sustainability in Indonesia’s palm oil supply chains and other export products. Indonesia will receive technical assistance to revive its pandemic-hit tourist, among others.
” Indonesia is a concern country for SECO’s financial cooperation, in addition to an important market for Swiss companies in terms of trade and financial investment in Southeast Asia,” Ineichen-Fleisch said.
She highlighted the bilateral trade volume reached a massive $1.5 billion in2019 Hundreds of Swiss companies with an overall built up capital stock of $6.5 billion have actually also bought Indonesia and produce 50,000 jobs.
” The 2021-2024 program closely lines up with Indonesia’s development strategies and constructs on SECO’s previous achievements. Our objective is to support Indonesia in becoming a more competitive, durable, and fair economy.”
Ballot on Palm Oil
The partnership’s renewal took place at a time when the Swiss referendum is simply around the corner.
On March 7, Swiss– as part of the European Free Trade Association (EFTA)– will hold a popular vote on whether the nation will continue with Indonesia-EFTA Comprehensive Economic Partnership Contract (IE-CEPA).
The collaboration will lower import duties on products going into Switzerland. This includes Indonesia’s top product, palm oil, presently experiencing a huge pushback in Europe. The trade contract also triggers criticism from anti-palm oil activists.
Farmers’ union Uniterre and winegrower Willy Cretegny collected more than the required 50,000 signatures to propose a referendum on the trade contract, according to Swiss Details.
Bloomberg also reported a poll held by a Swiss ballot firm gfs.bern discovered 52 percent of respondents supported the trade accord.
With opinions divided, Indonesia said they would appreciate whatever the referendum result is while remaining confident that the Swiss will be on board with the partnership.
” We completely respect the choice of the Swiss individuals. We still hope the IE-CEPA could be accepted,” National Advancement Preparation Minister Suharso Monoarfa stated.
” Considering the CEPA will significantly enhance market access conditions on both sides, deepen bilateral financial relations in a manner constant with the goal of sustainable development and even more strengthen financial development cooperation,” he added.
