Trade Mission to Indonesia and Thailand
- Event type
- Trade Mission
- 22.10.2018 - 26.10.2018
The Luxembourg Chamber of Commerce, in collaboration with the Embassy of Luxembourg in Bangkok, will organize a multi-sectoral trade mission to Indonesia and Thailand from October 22nd to 26th, 2018 to further explore both markets and their business opportunities. 2018 marks the 45th anniversary of bilateral diplomatic ties between Luxembourg and Indonesia and almost 60 years of bilateral relations between Luxembourg and Thailand.
The mission will focus on ICT, Logistics/Maritime, Eco-innovation, Finance and Tourism. However, all members of the Luxembourg Chamber of Commerce are welcome to participate if interested.
Indonesia and Thailand are founding member states of the Association of Southeast Asian Nations (ASEAN) which represents today a strong regional organization, the world’s third fastest growing economy, immediately behind India and China. The economic size of the 10 ASEAN member countries outpaced BRIC countries Brazil and Russia, and will compare to the size of India’s economy in the coming years.
Last year, Indonesia’s GDP growth rose to 5.2 %, its highest growth rate in four years and the outlook continues to be positive. Strategically positioned along major sea lines connecting East Asia, South Asia, and Oceania, Indonesia holds a natural appeal for foreign investors. Aside from its geographical reach to major international markets, the country houses over 250 million people offering a considerable domestic market. In addition, the country has relatively low wages, which provide a cost-effective source of manpower for investors. According to BKPM (investment service agency), from all of Indonesia’s business sectors, the tourism and digital economy sectors remain the most promising. The government has been proactive in supporting both sectors through a number of policies, such as increasing visa-free travel to Indonesia to 170 countries and the national campaign to promote various new travel destinations, while implementing numerous infrastructure development projects. The advancement of digital economy, supported by the thriving emerging middle-class, will spur Indonesia’s economic growth. Furthermore, the communication and information services sector has grown year-on-year by 9.8% and the transportation and logistics sector has increased by 8.25 %.
Thailand’s economic growth reached 4% last year, the best growth performance since 2012. The country boasts of strong economic fundamentals: steady inflation and interest rates, low unemployment, and reasonable public and external debt level. The growth momentum is expected to continue in 2018 and 2019. Moreover, the National Strategic Plan (2017-2036) places the emphasis on competitiveness through the development of rail, road, airport, and electricity infrastructures. In that context, Thailand has recently approved a law for the development of its Eastern Economic Corridor (EEC) under scheme of Thailand 4.0 aiming to revitalize and enhancing of the well-known Eastern Seaboard Development Program that had supported the country as a powerhouse for industrial production for over 30 years. This initiative will speed up development of infrastructure projects in the corridor and ease regulations for investment in the area, including permitting foreign ownership of land for specific investments, which is otherwise banned in the country.
The participating companies will have the opportunity to take part in tailor-made business-to-business meetings in each country, as well as to network with local companies during the various events organized by the Luxembourg Chamber of Commerce together with its local partners in Indonesia and Thailand. Companies may also participate in networking receptions and various opportunities to meet key players will be provided. Furthermore, an accompanied visit of the international “Trade Expo Indonesia 2018” will be organized for the Luxembourg delegation to find new opportunities for development, connect with exhibitors, partners and officials.
Please find below additional information and a more detailed draft of the program.
If you are interested in registering for the trade mission, you are kindly requested to duly complete the online registration form no later than September 14th, 2018.
|For further information about this upcoming mission, feel free to contact Sabrina Aksil / Na Shi (IndoThai2018(at)cc.lu -T:+352 42 39 39-374/364).|
Mission led by the Chamber of Commerce in close collaboration with its international networks, the Luxembourg trade or diplomatic network abroad, the Belgian trade representatives and/ or the relevant government department