Indonesia and Switzerland held a bilateral economic meeting through the 11th Joint Economic and Trade Commission (JETC) in Jakarta, led by Director General of Economic Relations and Development Cooperation of the Indonesian Ministry of Foreign Affairs, Ambassador Daniel Tumpal Simanjuntak and Head of Bilateral Economic Relations of the Swiss Ministry of Economy, Ambassador Andrea Rauber Saxer, accompanied by Indonesian Ambassador to Switzerland, Ngurah Swajaya and Swiss Ambassador to Indonesia, Olivier Zender, respectively. The delegations of both countries were complemented by the presence of a number of Ministry officials as well as representatives of the private sector of both countries, including KADIN Indonesia and Danantara.
The meeting discussed concrete steps to maximize economic cooperation between Indonesia and Switzerland. A number of strategic issues such as cooperation in the fields of health technology and pharmaceuticals,critical mineral processing, green infrastructure, efforts to increase trade and investment based on the Indonesia-EFTA(European Free Trade Association) Comprehensive Economic Partnership Agreement (CEPA) and the Indonesia-Switzerland Bilateral Investment Treaty (BIT) agreement.
The bilateral relationship between Indonesia and Switzerland, which turns 75 years old next year, has high potential in economic relations, especially trade and investment which always increases every year. Switzerland is Indonesia's first partner in Europe for CEPA and BIT agreements. In trade, the trade value for the first 6 months of 2025, reached USD 3.14 billion, increasing by more than 100% with a surplus for Indonesia above USD 2.5 billion by 2024. Switzerland is the 12th largest foreign investor for Indonesia, and the second largest from Europe. Swiss investment in 2024 amounted to USD 244.9 million and investment interest continues to increase, especially for technology-based small and medium industries, including low-carbon technologies.
This JETC meeting is an important and strategic momentum in the midst of an uncertain world economic situation, because the potential of both countries is still very large to be utilized for mutual benefit. Indonesia has a very high potential value for Switzerland, because it has a strategic position and is a gateway for wider trade to ASEAN and the greater region, such as within the framework of the RCEO(Regional Comprehensive Economic Partnership) Agreement and as a competitive and potential production base in order to diversify the global industrial supply chain. Conversely, Switzerland is also a very potential partner from Europe due to its economic and technological potential. Both countries also have a strong legal basis, namely CEPA and BIT.
This meeting is also very strategic in preparing for the visit of the Swiss Federal Minister for Economic Affairs, Guy Parmelin to Indonesia on September 30 - October 3, 2025, bringing a business delegation consisting of more than 22 CEOs of large Swiss companies. The active participation of the private sector in this visit is also expected to concretely encourage the improvement of economic relations between the two countries.
A series of meetings have been scheduled for Minister Parmelin, who, according to the Swiss system of government, is also the Vice President of the Confederation. The scheduled meetings are with the Coordinating Minister for Economic Affairs, Coordinating Minister for Infrastructure, Minister of Investment and Hilirisas/Head of BKPM, Minister of National Development Planning/Head of BAPPENAS, and KADIN. Minister Parmelin is also scheduled to pay a courtesy call on the President of Indonesia.
In addition to the series of meetings, the Swiss Federal Minister will also visit POLMAN Bandung by using the Woosh fast train, as well as to see a number of ongoing cooperation projects between Indonesia and Switzerland in Bandung. Potential sectors of economic cooperation between the two countries in the field of investment include green infrastructure, including hydro power, waste to energy, medical equipment, pharmaceuticals, and the digital economy, Ambassador Ngurah Swajaya said.
