ACCI and KADIN sign a Memorandum of Understanding

ACCI and Indonesian Chamber of Commerce and Industry (KADIN) signed a MoU intended to enhance further trade, investment and economic cooperation between both countries. On behalf of ACCI, Mr. Atiqullah Nusrat, CEO of ACCI and from Indonesian Chamber, Mr. Fachry Thaib, Head of Permanent Committee for International Trade signed the MoU on 10 October 2014 in Jakarta.

Under the aforementioned MoU, both parties will be able to:

  • Exchange market information, as well as other data which are necessary for companies, enterprises and organizations investing and operating in one or both countries;
  • Organize seminars, symposiums, conferences, workshops, meetings involving the business community in order to strengthen the cooperation between both countries;
  • Assist each other in organizing exhibitions, fairs and informational events to create necessary conditions for the active participation of the companies, enterprises and organizations from the I.R of Afghanistan and the republic of Indonesia;
  • In case of necessity, hold consultations in order to eliminate factors impeding bilateral trade and economic cooperation;
  • Promote the foundation of joint ventures in order to attract investment and promote economic cooperation between both countries;
  • Assist companies, enterprises and organizations from the respective countries by recommending them to the respective embassies for visa issuance;
  • Both parties will respect all the international conventions related to the economic and businesses activates which are accepted by both countries;
  • Actively work together on establishment of Afghanistan – Indonesian Business Council;
  • Designate a specific person or desk with respective organization as to effectively exchange trade, investment information and fully facilitate business and investment opportunities between the two countries.

Mr. Nusrat said the MoU between ACCI and Kadin would help increase trade volume between the two countries, particularly for Indonesian food products.

“We are sure that we will see 30 to 40 percent increase in the trade volume between the two countries,” he said, adding that the annual trade volume between the two is still less than $150 million.” He said

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