Initiation of business relationships between textile machinery manufacturers from Germany and potential business partners from Indonesia | Bandung (Symposium & B2B) und Solo (B2B) | 10. - 14. Oktober 2022
Background
The textile industry is an important economic sector and a source of foreign exchange for the largest economy in ASEAN. Textile exports all over the world generate annual revenues of EUR 7-8 billion. The industry, which is primarily located on the main island of Java, employs 3.43 million people. However, the industry is characterised by structural difficulties. The reasons for this lie on the one hand in the dependence on imported primary products and the rather rigid labour law at least until 2020. Exports from the textile industry have been stagnating for several years.
Significant changes to labour law have also been made as part of a comprehensive reform of investment law. The aim was to make the Indonesian labour market somewhat more flexible in order to attract investors to labour-intensive industries. This includes, in particular, the textile industry. From 2022, the first positive effects of labour law on investment activity could become apparent
Format
Trade Promotion Indonesia with company visits, presentation event (symposium) and B2B meetings between Indonesian and German representatives