Jakarta, INTI - The series of events under the Business Roundtable Asia Pacific Foundation Canada successfully took place in Vancouver on Tuesday, September 3, 2024. This event marked a significant moment in strengthening bilateral relations between Indonesia and Canada, particularly in the fields of economy and technology. Indonesia’s Coordinating Minister for Economic Affairs, Airlangga Hartarto, attended and held strategic meetings with key Canadian figures, including Senator Yuen Pau Woo, former President and CEO of the Asia Pacific Foundation of Canada.
Minister Airlangga expressed his hopes that the cooperation between Indonesia and Canada can be further enhanced, especially in crucial sectors such as Renewable Energy (EBT), clean technology, hydrogen, semiconductors, Artificial Intelligence (AI), electric vehicles, and the development of human resource capacity. These sectors are seen as vital in advancing Indonesia's economy and supporting the government’s target of Net Zero Emission (NZE) by 2060.
In response, Senator Yuen Pau Woo welcomed Minister Airlangga's expectations and noted that the completion of the Indonesia-Canada Comprehensive Economic Partnership Agreement (ICA–CEPA) would act as a catalyst for boosting the economic relationship between the two countries. The agreement is expected to significantly increase the volume of trade and investment between Indonesia and Canada.
Opportunities in Clean Technology Investment
British Columbia, a Canadian province highly active in the clean technology sector, leads various innovations contributing to reducing carbon emissions. During the discussions, Minister Airlangga highlighted Indonesia's great potential to collaborate with British Columbia in the development of clean technologies, including projects like the Smart Hydrogen Energy District (SHED) and the CleanBC Roadmap, aimed at achieving net-zero emissions by 2050.
Vancouver-based companies such as Ballard Power Systems and Carbon Engineering play significant roles in hydrogen innovation and carbon capture. Cooperation in these areas is expected to yield substantial benefits for both countries, in terms of both technology and investment.
Meanwhile, the University of British Columbia and Simon Fraser University, two of Canada’s renowned educational institutions, are also actively involved in clean technology and semiconductor research. This research collaboration has the potential to create an innovation ecosystem that further supports the clean technology industry in Indonesia.
Economic Potential of British Columbia and Indonesia
British Columbia plays a crucial role in strengthening Canada’s national economy. In 2022, the province's Gross Domestic Product (GDP) reached CAD 350 billion, accounting for 13% of Canada's total GDP. Meanwhile, its export value reached CAD 50 billion, with key products including wood, coal, and clean technology. Foreign direct investment (FDI) in the province also amounted to around CAD 15 billion.
Seeing this potential, Minister Airlangga is optimistic that Indonesia and Canada can expand their economic cooperation, especially through the completion of ICA-CEPA, which is targeted for completion by the end of 2024. The bilateral meeting between President Joko Widodo and Canadian Prime Minister Justin Trudeau in May 2023 in Japan also underscored both countries’ commitment to accelerating the agreement’s conclusion.
Positive Trends in Bilateral Trade
The economic relationship between Indonesia and Canada continues to show positive growth. In 2023, bilateral trade between the two countries reached USD 3.5 billion, with an average growth trend of 11.24% over the past five years. This growth reflects the vast potential for strengthening economic cooperation, especially in sectors like clean technology, semiconductors, and renewable energy.
Future Collaboration
Through close collaboration, Indonesia and Canada have great potential to increase trade and investment values. In discussions with Senator Yuen Pau Woo, Minister Airlangga emphasized the importance of human resource development as a key factor in advancing Indonesia's technology and energy sectors. Additionally, Canada's investment in Ibu Kota Nusantara and other green projects in Indonesia were also key discussion points during the meeting.
Both Indonesia and Canada share a common vision for a cleaner, more sustainable future. With cooperation across various sectors, including clean technology and renewable energy, both countries are expected to achieve sustainable economic growth together.
13 hari yang lalu
13 hari yang lalu
Ad