Federation of Indian Chambers of Commerce and Industry (FICCI) and the Indonesian Chamber of Commerce and Industry (KADIN Indonesia) initialled a comprehensive Memorandum of Understanding (MoU) to deepen bilateral relationship covering all spheres of business and investment and to tap opportunities in other areas.
The MoU was signed by Mr. Onkar S. Kanwar, President, FICCI and Mr. Mohammad S. Hidayat, President, Indonesian Chamber of Commerce, in the presence of Ms. Mari Elka Pangestu, Minister of Trade, Mr. Aburizal Bakrie, Coordinating Minister of Economy and Mr. Andung Nitimiharja, Minister of Industry, Indonesia.
In terms of the MoU, the two business bodies will undertake visits and studies on various relevant topics and projects which would benefit their respective members and could develop into specific long term programmes.
They will seeks to develop strong institutional relations in order to establish a sustainable mechanism of dialogue and forums of discussions; to provide the businesses in India and Indonesia with information on the general economic situation, investments opportunities, trade, fiscal & monetary and technology & intellectual property rights policies and legislative changes therein; and to encourage businessmen of both countries to participate in exhibitions, fairs and conferences held in India and in Indonesia.
The parties would assist the enterprises in their respective countries to participate on joint basis in businesses in their own countries or in third countries.