-
Agreement will provide strategic framework for collaboration and joint financing.
-
Indonesian suppliers could benefit from lucrative new contract opportunities.
The UK government and Indonesia Eximbank have signed a partnership agreement that will help them to create new business opportunities for Indonesian exporters.
UKEF is the UK government's export credit agency; it provides finance and insurance to help overseas buyers deliver projects which use UK goods and services.
Signed in Jakarta, the Memorandum of Understanding (MoU) between UK Export Finance (UKEF) and Indonesia Eximbank announces their intention to collaborate on new projects around the world, especially in Africa and the Indo-Pacific.
Last year alone, UKEF allocated almost £1.7 billion in new financing to these regions, helping to generate new business for hundreds of suppliers and indicating the scale of opportunity being made available to Indonesian businesses.
By working together, UKEF and Indonesia Eximbank aim to jointly support international projects which will create contracts for UK and Indonesian suppliers, with a focus on clean energy, healthcare, water, education and transport.
Dominic Jermey, British Ambassador to Indonesia, said:
As UK and Indonesia celebrate the great partnership established over 75 years of diplomatic relations, I am delighted to extend this relationship further through UKEF's agreement with Indonesia Eximbank.
Tim Reid, CEO of UKEF, said:
In recent years, UK Export Finance has supported more business in Asia Pacific than ever. Today's agreement opens another exciting new chapter in UK-Indonesia economic cooperation.
Working together, we can exchange best practice, look for new opportunities and grow bilateral trade.
Rijani Tirtoso, Executive Director of Indonesia Eximbank, said:
As a globally respected Export Credit Agency (ECA) with a wide international presence, UKEF's collaboration with Indonesia Eximbank will significantly advance business development and demonstrate both institutions' commitment to fostering responsible, sustainable, green, and impactful trade, contributing to economic growth and positioning Indonesia for a stronger role in the global market.
This new MoU builds on existing support available from UKEF for organisations in Indonesia.
UKEF has over £3 billion in support available to help Indonesian buyers finance projects which use UK goods and services.
Indonesia remains a priority market for UKEF, which in 2017 appointed its first-ever overseas representative by making Richard Michael its Country Head for Indonesia.
