Indonesia and France will various sign agreements to further strengthen strategic partnerships and bilateral relations during French President François Hollande's first state visit on Wednesday (29/03). (Reuters Photo/Wallace Woon)

Hollande to Bring $2.6b Investment During First Indonesia Visit


MARCH 27, 2017

Jakarta. Indonesia and France will sign various agreements to further strengthen strategic partnerships and bilateral relations during French President François Hollande's first state visit on Wednesday (29/03).

The French Embassy in Jakarta said in a statement on Monday that Hollande will be accompanied by Defense Minister Jean-Yves Le Drian, Digital Sector and Innovation Minister Christophe Sirugue, members of the French parliament and around 50 business leaders.

According to the Indonesian Ministry of Foreign Affairs, Hollande's visit will focus on strengthening partnerships on maritime affairs and the creative economy.

In the maritime sector, France and Indonesia will hold a meeting focusing on partnerships that are in line with sustainable development. In the creative economy, the two countries will focus on economic reform in accordance with developments in the digital age.

Additionally, agreements on other sectors such as sustainable urban development, research, technology, higher education, defense and tourism are also expected to be signed by the French delegation and their Indonesian counterparts.

The strategic partnership between Indonesia and France began in July 2011. Bilateral trade between the two countries was valued at more than $2 billion in 2016.

Hollande's visit is expected to bring in more than $2.6 billion in investment; spread across energy, infrastructure and the retail business sectors. The visit is also expected to produce 34 memoranda of understanding.

In addition, French businesses are also making investments worth hundreds of millions of dollars in cosmetics, rubber processing, agriculture and other sectors.

This is the first visit by a French head of state to Indonesia since that of President François Mitterrand in 1986.

Hollande's visit to Jakarta is the last leg of his Southeast Asian tour. He was also scheduled to visit Malaysia and Singapore.