Nepal-Indonesia Business Forum Strengthens Bilateral Ties

The Embassy of Indonesia for Bangladesh and Nepal, in collaboration with the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Honorary Consulate of Indonesia in Kathmandu, organized a ‘Business Forum’ in the Nepalese capital to bolster bilateral investment, trade, and tourism relations between the two nations.

Ambassador Heru H. Subolo, Indonesia’s envoy to Bangladesh and Nepal, emphasized the need to enhance both business and people-to-people interactions between the countries. He highlighted the untapped potential for bilateral business cooperation and called upon governments and business communities to explore these opportunities further.

Chandra Prasad Dhakal, President of FNCCI and Honorary Consul of Indonesia in Nepal, echoed the call for promoting tourism and trade between the two nations. Dhakal encouraged Indonesian investors to consider Nepal as an investment destination, emphasizing areas of comparative advantage.

Dhakal also emphasized the potential benefits of establishing a direct flight route between Jakarta and Kathmandu, which could facilitate trade, tourism, and closer people-to-people ties.

Furthermore, Dhakal called for the Indonesian government’s support in prioritizing Nepali goods in the Indonesian market, aiming to further strengthen trade relations.

The annual business forum serves as a platform to enhance ties between Indonesia and Nepal. Indonesia, with its vast population of 270 million, is Southeast Asia’s largest economy and a newly industrialized nation. It ranks 16th globally in terms of the largest economies, with a GDP of US$1.3 trillion in terms of purchasing power.

However, bilateral trade between Nepal and Indonesia remains relatively modest, amounting to just US$20.6 million. Ambassador Subolo expressed Indonesia’s hope that Nepal could tap into the Indonesian market more effectively.

Nepal primarily exports carpets, tea, and jute products to Indonesia while importing palm oil, mineral fuels, wood, and paper from the country.

Ambassador Subolo also informed attendees about the Trade Expo Indonesia scheduled for October 18-22, 2023, near Jakarta. The expo will focus on Business-to-Business trade and will promote tourism and investment exhibitions for Indonesian export-oriented products and services.

Additionally, Ambassador Subolo and Dhakal discussed mutual interests in collaboration, business enhancement, and people-to-people relations. Dhakal requested the ambassador’s support in reinstating on-arrival visas for Nepali travelers visiting Indonesia, which had been suspended due to the COVID-19 outbreak in 2019.

In response, Ambassador Subolo pledged to engage with the Indonesian government to explore the possibility of reinstating on-arrival visas for Nepali travelers. He also expressed his intent to support Nepal and Nepali businesses in exporting their goods to Indonesia.