BELGIAN ECONOMIC MISSION. 12 > 19 March 2016 BELGIUM S TRADE RELATIONS WITH INDONESIA INDONESIA

BELGIAN ECONOMIC MISSION 12 > 19 March 2016 BELGIUM S TRADE RELATIONS WITH INDONESIA INDONESIA

INDONESIA

TABLE OF CONTENTS 1 Importance of Belgium and the other EU-countries in the trade with Indonesia 5 1.1 Exports 6 1.2 Imports 7 2 Importance of Indonesia and its neighbouring countries in Belgium s foreign trade (2014) 8 3 Bilateral trade relations 11 3.1 Trade in goods 12 3.1.1 Exports 14 3.1.2 Imports 16 3.2 General pattern of development of the trade in goods after the first nine months of 2015 18 3.2.1 Exports 18 3.2.2 Imports 18 3.3 Trade in services 19 3.3.1 Exports 20 3.3.2 Imports 21 3.4 General pattern of development of the trade in services after the first nine months of 2015 22 3.4.1 Exports 22 3.4.2 Imports 22 3 4 Some economic indicators on the economy of Indonesia 23 5 Index of the unit price in imports and exports 25 6 Sources 27 7 Contacts 27 BELGIAN FOREIGN TRADE AGENCY

INDONESIA 4 BELGIUM S TRADE RELATIONS WITH INDONESIA

1 IMPORTANCE OF BELGIUM AND THE OTHER EU-COUNTRIES IN THE TRADE WITH INDONESIA 5 BELGIAN FOREIGN TRADE AGENCY

INDONESIA 1. Importance of Belgium and the other EU-countries in the tra de wi th Indone sia 1.1. Expor ts Total exports of goods from the European Union (EU-28) to Indonesia amounted to EUR 9.5 billion in 2014. Belgium represented a share of 4.8%, which makes it the 6 th major exporter of goods to Indonesia within the EU. Germany took first place with 31.0%, ahead of France (17.9%) and Italy (12.5%). Exports of Germany decreased by 5.4%, while those of France and Italy grew by 3.2% and 5.3% respectively. Since Belgian exports were down by a smaller percentage than sales of the European Union as a whole in 2014, our country gained market share in Indonesia. 6 While European exports (EU-28) to Indonesia were down by 2.0% in 2014, Belgian sales fell by 0.5% during this period. Evolution of exports to Indonesia IN MILLION 2013 2014 VARIATION (IN %) SHARE (IN %) 1. GERMANY 3,117.9 2,949.6-5.4 31.0 2. FRANCE 1,647.7 1,701.2 3.2 17.9 3. ITALY 1,132.1 1,192.3 5.3 12.5 6. BELGIUM 462.1 459.9-0.5 4.8 TOTAL EU-28 9,700.7 9,502.0-2.0 100.0 BELGIUM S TRADE RELATIONS WITH INDONESIA

1.2. Impor ts Total imports of goods by the European Union (EU-28) from Indonesia amounted to EUR 14.4 billion in 2014. Belgium was the 6 th largest importer of goods from Indonesia within the EU with a share of 7.7%. First place was occupied by the Netherlands with a share of 20.5%, while Germany and Italy settled in second and third place with 19.3% and 13.8% respectively. While European imports (EU-28) from Indonesia rose by 0.1% in 2014, Belgian purchases from this particular country were up by 1.2%. Imports of the Netherlands and Germany dropped by 4.4% and 1.4% respectively, while those of Italy increased by 4.2%. Since Belgian purchases of goods from Indonesia grew at a faster rate than total European imports, our market share increased in 2014. 7 Evolution of imports from Indonesia IN MILLION 2013 2014 VARIATION (IN %) SHARE (IN %) 1. NETHERLANDS 3,095.1 2,959.0-4.4 20.5 2. GERMANY 2,828.1 2,789.9-1.4 19.3 3. ITALY 1,915.3 1,996.5 4.2 13.8 6. BELGIUM 1,103.4 1,116.2 1.2 7.7 TOTAL EU-28 14,417.7 14,431.7 0.1 100.0 BELGIAN FOREIGN TRADE AGENCY

INDONESIA 8 2IMPORTANCE OF INDONESIA AND ITS NEIGHBOURING COUNTRIES IN BELGIUM S FOREIGN TRADE (2014) BELGIUM S TRADE RELATIONS WITH INDONESIA

CLIENT > BELGIAN EXPORTS SUPPLIER > BELGIAN IMPORTS Singapore 36 th client EUR 1,427.2 million 15 th supplier EUR 4,255.7 million Malaysia 50 th client EUR 523.1 million 45 th supplier EUR 852.5 million Indonesia Thailand 44 th client EUR 908.2 million 36 th supplier EUR 1,277.8 million 52 nd client EUR 459.9 million 38 th supplier EUR 1,116.2 million 9 Philippines 71 st client EUR 265.5 million 78 th supplier EUR 158.4 million Australia 32 nd client EUR 1,641.1 million 39 th supplier EUR 1,050.1 million Papua New Guinea 145 th client EUR 19.0 million 110 th supplier EUR 40.2 million Interest in Indonesia The database of the Belgian Foreign Trade Agency, which registers more than 20,000 companies, records 1,086 Belgian companies that export to Indonesia and another 1,815 companies that show an interest in this market. For more information: Mrs. A. Leroy, tel.: 02 206 35 38; anne.leroy@abh-ace.be BELGIAN FOREIGN TRADE AGENCY

INDONESIA 10 BELGIUM S TRADE RELATIONS WITH INDONESIA

3 BILATERAL TRADE RELATIONS 11 BELGIAN FOREIGN TRADE AGENCY

INDONESIA 3. Bilatera l tra de relati ons 3.1. TRADE IN GOODS 12 In 2014, Indonesia ranked 52 nd among Belgium s main clients, before Argentina and after Slovenia. Total Belgian exports to Indonesia amounted to EUR 459.9 million compared to EUR 462.1 million in 2013, a 0.5% decrease. Belgian exports to Indonesia accounted for 0.1% of Belgium s total sales. Indonesia was Belgium s 38 th supplier of goods in 2014. It ranked after Portugal, but preceded Australia. Total Belgian imports of goods from Indonesia grew by 1.2%, from EUR 1,103.4 million in 2013 to EUR 1,116.2 million in 2014. Approximately 0.3% of total Belgian imports came from Indonesia. The following table shows the evolution of Belgium s trade with Indonesia for the period 2010-2014. Evolution of Belgium s trade in goods with Indonesia IN MILLION 2010 2011 2012 2013 2014 EXPORTS 440.5 450.7 506.9 462.1 459.9 IMPORTS 963.8 921.7 1,120.1 1,103.4 1,116.2 TRADE BALANCE -523.3-471.0-613.2-641.3-656.3 EXPORTS : VAR. IN % 40.8 2.3 12.5-8.9-0.5 IMPORTS : VAR. IN % 7.4-4.4 21.5-1.5 1.2 Belgium s trade balance with Indonesia, which is traditionnaly negative, displayed a deficit of EUR 523.3 million in 2010. The trade deficit was reduced to EUR 471.0 million in 2011, due to the fact that imports were down and exports increased. Since purchases grew at a faster rate than sales in 2012, the trade deficit was once again up to EUR 613.2 million. From that point on, Belgiums trade balance with Indonesia became even more negative. In 2013 and 2014 the deficit soared to subsequently EUR 641.3 million and EUR 656.3 million. BELGIUM S TRADE RELATIONS WITH INDONESIA

Variation of exports and imports (in %) 2010 to 2014 40.8% Exports Imports 21.5% 12.5% 7.4% 2.3% 1.2% -4.4% -1.5% -8.9% -0.5% 13 2010 2011 2012 2013 2014 The graph above shows that Belgium s trade in goods with Indonesia was subjected to heavy fluctuations over the last couple of years. Thanks in part to the increased sales of chemical products, Belgian exports of goods to Indonesia jumped by 40.8% in 2010. Sales continued to move in a positive direction during the next two years, with growth rates of 2.3% in 2011 and 12.5% in 2012. The fact that sales of machinery and equipment and transport equipment fell in 2013, caused total Belgian exports of goods to Indonesia to contract by 8.9% in 2013. Sales were still down in 2014, albeit at a vastly smaller rate of 0.5%. The increased purchases of footwear, headgear, have caused total Belgian imports of goods from Indonesia to rise by 7.4% in 2010. The subsequent drop in imports of the afforementioned product group, caused total imports to reduce by 4.4% a year later. After this lowpoint, Belgian imports from Indonesia recovered in 2012, recording a growth rate of 21.5%. This positive trend was once again interrupted in 2013 as purchases fell by 1.5%. They picked up once more in 2014, with a cautious rise of 1.2% BELGIAN FOREIGN TRADE AGENCY

INDONESIA 3.1. Tra de in goods 3.1.1. Expor ts 14 In 2014, chemical products represented more than a quarter of total Belgian exports of goods to Indonesia. With EUR 138.0 million, this group of products represented a share of 30.0% of total sales. Exports of this section were mainly composed of mineral or chemical fertilizers, human vaccines and medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses. Machinery and equipment (main sub-section: air or vacuum pumps, air or other gas compressors and fans ) represented an amount of EUR 96.3 million or a share of 20.9% in total Belgian exports of goods to Indonesia. Animal products, which were composed in part of milk and cream, came in third with a share of 11.0% and sales totaling EUR 50.6 million. There were two more sections with a share of more than 5%: plastics: EUR 33.0 million, or a share of 7.2% and transport equipment: EUR 27.6 million or a share of 6.0%. Breakdown of belgian exports to Indonesia by principal commodities (2014 - in %) 30.0% 20.9% 11.0% 7.2% 6.0% 4.5% 4.4% 3.4% 2.9% 9.7% CHEMICAL PRODUCTS MACHINERY AND EQUIPMENT ANIMAL PRODUCTS PLASTICS TRANSPORT EQUIPMENT NON-CLASSIFIED ARTICLES FOODSTUFFS MINERAL PRODUCTS BASE METALS OTHERS BELGIUM S TRADE RELATIONS WITH INDONESIA

Variation of exports to indonesia by principal commodities (in value and quantity) 2013-2014 108.3% Value 68.6% Quantity 39.3% 6.5% 9.6% 18.1% 12.6% -14.9% -9.7% -72.7% 15 Of the ten main product groups, transport equipment (main sub-sections: motor vehicles for the transport of goods and parts and accessories for motor vehicles ) recorded the largest positive growth rate in 2014. The exported value of this group of products grew from EUR 13.3 million in 2013 to EUR 27.6 million in 2014. This is a jump of 108.3%. in large part be attributed to a rise in exports of preparations used in animal feeding and chocolate. Sales of mineral products were reduced by 72.7% between 2013 and 2014, from EUR 56.4 million to EUR 15.4 million. This was principally due to lower exports of petroleum oils and oils obtained from bituminous minerals. Sales of chemical products, Belgium s main export section to Indonesia, were up by 6.5% in value in 2014. The other product groups from the top ten of which sales moved in a positive direction, displayed a growth rate that varied from 9.6% (machinery and equipment) to 68.6% (foodstuffs). The increase of this last section can The two other sections from the top ten that recorded a negative growth rate were animal products (-14.9%) and plastics (-9.7%). Despite the rise in sales of the two main product groups, total Belgian exports of goods to Indonesia were still down by 0.5% in 2014. This was among other things due to lower sales of the afforementioned mineral products. BELGIAN FOREIGN TRADE AGENCY

INDONESIA 3.1. Tra de in goods 3.1.2. Impor ts 16 In 2014, Belgian imports of goods from Indonesia consisted for more than a third of footwear, headgear, Purchases of this section, which were composed in part of footwear with outer soles of rubber, plastics or leather, totaled EUR 401.1 million and represented a share of 35.9%. Purchases of textiles (main sub-sections: T-shirts and track suits ) amounted to EUR 170.6 million or a share of 15.3% in total imports. Plastics, which were comprised of natural rubber and new pneumatic tyres, of rubber, completed the top three of Belgian imports from Indonesia with a share of 11.2% or EUR 125.0 million. Other import sections with a share of more than 5% were: machinery and equipment: EUR 67.1 million or a share of 6.0% and foodstuffs: EUR 58.5 million or a share of 5.2%. Breakdown of belgian imports from Indonesia by principal commodities (2014 - in %) 35.9% 15.3% 11.2% 6.0% 5.2% 4.7% 3.7% 3.6% 2.3% 12.1% FOOTWEAR, HEADGEAR, TEXTILES PLASTICS MACHINERY AND EQUIPMENT FOODSTUFFS MISCELLANEOUS ARTICLES WOOD BASE METALS RAW HIDES, SKINS, LEATHER, OTHERS BELGIUM S TRADE RELATIONS WITH INDONESIA

Variation of imports from Indonesia by principal commodities (in value and quantity) 2013-2014 Value Quantity 43.2% 42.8% 14.3% 9.1% 0.0% 4.0% 2.1% 1.4% -19.8% -17.9% Of the ten main import sections from the graph below, foodstuffs (main sub-sections: cocoa butter, unmanufactured tobacco and molasses resulting from the extraction or refining of sugar ) accounted for the largest percentage increase in value. Purchases of this product group grew by 43.2% in value, from EUR 40.8 million in 2013 to EUR 58.5 million in 2014. The fact that the quantity rose at a considerably faster rate than the value, indicates that the unit price has fallen. Purchases of footwear, headgear,, Belgium s main import section from Indonesia, were up by 14.3% in 2014, after a rise of 1.0% during the previous year. The other product groups from the top ten of which purchases jumped, recorded a growth rate that varied from 0.0% (machinery and equipment) to 42.8% (raw hides, skins, leather, ). The increase in imports of this last section can in large part be attributed to a rise in purchases of trunks and suitcases of leather or composition leather. Plastics (-19.8%) and stone, plaster, cement, (-17.9%) were the only product groups from the top ten of which imports were down in 2014. The decrease in purchases of the former section were due to lower imports of natural rubber and new pneumatic tyres, of rubber. The rise in purchases of the two main product groups had a significant effect on the overall result, as total Belgian imports of goods from Indonesia grew by 1.2% in 2014. 17 BELGIAN FOREIGN TRADE AGENCY

INDONESIA 3.2. general pattern of development of the trade in goods af ter the fir st nine months of 2015 3.2.1. Expor ts 18 According to the data available for 2015, Belgian exports to Indonesia totaled EUR 332.2 million after the first nine months. This is 2.8% more than after the equivalent period of 2014. Chemical products remained in first place after the first nine months of 2015. This group of products represented an amount of EUR 115.8 million, good for 34.9% of total exports. Sales of this section grew by 23.0%. Exports of machinery and equipment rose by 21.0% in 2015, reaching EUR 64.6 million or a 19.5% share. With EUR 36.0 million, the animals products section completed the top three list of Belgium s exports of goods to Indonesia. Despite a 14.1% decrease, exports of this group of products accounted for 10.8% of total sales. 3.2.2. Impor ts Belgian imports from Indonesia totaled EUR 963.3 million after the first nine months of 2015. This is an 11.9% increase in comparison to the same period of 2014, when imports reached a total of EUR 861.0 million. this particular group of products grew by 44.2%. Following a 3.6% decrease in purchases, the imported value of textiles fell to EUR 121.4 million or a 12.6% share. After the first nine months of 2015, purchases of footwear, headgear, still took first place with a share of 45.5% and reached EUR 438.7 million. Imports of Imports of plastics were down by 2.9%. Purchases totaled EUR 100.9 million or 10.5% of total Belgian imports from Indonesia. BELGIUM S TRADE RELATIONS WITH INDONESIA

3.3. Trade in services Si tuation in 2014 In 2014, Belgium s exports of services to Indonesia were down by 47.4%, decreasing from EUR 135.3 million to EUR 71.2 million. This made Indonesia the 64 th client of Belgium after Côte d Ivoire but before Lithuania with a share of 0.1% in total exports of services. Belgian imports of services from Indonesia represented EUR 41.6 million in 2014, a 6.2% increase when compared to the year before. Indonesia was Belgium s 72 nd supplier of services in 2014. It ranked before Tanzania, but after Liberia. The following table shows the evolution of Belgium s trade in services with Indonesia for the period 2012-2014. 19 Evolution of Belgium s trade in services with indonesia 2012 to 2014 IN THOUSANDS 2012 2013 2014 EXPORTS 71,399 135,308 71,200 IMPORTS 46,694 39,215 41,637 TRADE BALANCE 24,705 96,093 29,563 EXPORTS: VARIATION IN % 11.5 89.5-47.4 IMPORTS: VARIATION IN % 4.8-16.0 6.2 Since exports of services to Indonesia outperformed imports from 2012 to 2014, Belgium s services trade balance with this country was clearly positive over the last three years. imports moved downwards. In 2014 the situation was in reverse, as exports contracted and imports were up. This caused the surplus on the services balance to drop to EUR 29.6 million. The surplus on the services trade balance, which totaled EUR 24.7 million in 2012, increased to EUR 96.1 million in 2013 because exports increased, while The positive services balance of the last three years stands in contrast to the trade balance for goods, which was continually negative during this period. BELGIAN FOREIGN TRADE AGENCY

INDONESIA 3.3. Trade in services 3.3.1. Expor ts 20 Of the five main sections, other business services was the largest export category in 2014 with a share of 49.8% or EUR 35.5 million. This section covers a wide variety of services like merchanting, operational leasing services, legal services, accounting, auditing, bookkeeping and tax consultancy services, advertising, market research and public opinion polling and waste treatment and depollution. Communication services and royalties and licence fees took 2 nd and 3 rd place with a share of 11.7% and 10.6% respectively. In 2014, the largest percentage increase was recorded by the other business services. Exports of this section rose from EUR 16.0 million in 2013 to EUR 35.5 million in 2014. This is a surge of 121.0%. Transportation services (+19.2%) were the only other section from the top five to display a positive growth rate. The positive evolution of the afforementioned sections proved vastly insufficient to counteract the drop in the remaining service groups. Especially the plunge of royalties and licence fees (-91.3%) stands out. Furthermore there was also a loss in communication services (-28.2%) and travel services (-8.0%). This resulted in total Belgian exports of services to Indonesia to tumble by 47.4% in 2014. Belgian exports to Indonesia by principal services IN THOUSANDS 2013 2014 2014 SHARE (IN %) 2014/2013 VAR. (IN %) OTHER BUSINESS SERVICES 16,046 35,463 49.8 121.0 COMMUNICATION SERVICES 11,643 8,361 11.7-28.2 ROYALTIES AND LICENCE FEES 86,756 7,528 10.6-91.3 TRANSPORTATION SERVICES 6,105 7,278 10.2 19.2 TRAVEL SERVICES 3,947 3,632 5.1-8.0 OTHER SERVICES 10,811 8,938 12.6-17.3 TOTAL 135,308 71,200 100.0-47.4 BELGIUM S TRADE RELATIONS WITH INDONESIA

3.3.2. Impor ts Travel services was the major section on the import side in 2014 with a share of 36.3% or EUR 15.1 million. Financial services and other business services rounded out the top three with a share of 22.0% and 12.9% respectively. In 2014, the largest increase from a percentage viewpoint was registered by the other business services. Imports of this particular section grew from EUR 3.2 million in 2013 to EUR 5.4 million in 2014, a rise of 68.9%. Travel services (+0.2%) and financial services (+61.4%) were the other product groups from the top five to display an increase in imports. Due to the fact that the rise of the previously mentioned service groups was larger than the drop of transportation services (-18.0%), communication services (-29.5%) and the other services (-18.6%), total Belgian imports of services from Indonesia were up by 6.2% in 2014. 21 Belgian imports from Indonesia by principal services IN THOUSANDS 2013 2014 2014 SHARE (IN %) 2014/2013 VAR. (IN %) TRAVEL SERVICES 15,094 15,122 36.3 0.2 FINANCIAL SERVICES 5,667 9,148 22.0 61.4 OTHER BUSINESS SERVICES 3,178 5,367 12.9 68.9 TRANSPORTATION SERVICES 5,667 4,649 11.2-18.0 COMMUNICATION SERVICES 4,323 3,047 7.3-29.5 OTHER SERVICES 5,286 4,304 10.3-18.6 TOTAL 39,215 41,637 100.0 6.2 BELGIAN FOREIGN TRADE AGENCY

INDONESIA 3.4. General pattern of development of the trade in servic e s af ter the fir st nine months of 201 5 3.4.1. Expor ts 22 According to the data available for 2015, Belgian exports of services to Indonesia amounted to EUR 57.9 million after the first nine months. This is a 1.9% increase compared to the same period of 2014. Other business services were still in first place after the first nine months of 2015. This group of services accounted for EUR 17.9 million or 30.9% of total exports. Sales of this section fell by 35.4%. Exports of transportation services were up by 176.3% in 2015 (first nine months), reaching EUR 13.2 million or a 22.8% share. With EUR 7.4 million, communication services completed the list of Belgium s top three most exported services to Indonesia. Thanks to a rise in exports of 7.3%, this section represented 12.8% of total services. 3.4.2. Impor ts Belgian imports of services from Indonesia totaled EUR 39.0 million after the first nine months of 2015. This is a rise of 18.4% in comparison to the same period of 2014, when imports reached a total of EUR 32.9 million. After the first nine months of 2015, travel services remained in first place and reached EUR 13.8 million or a 35.4% share. Imports of this section increased by 11.5%. Financial services were second with EUR 9.7 million or a 24.8% share. Imports of this particular group of services were up by 27.6% after the first nine months of 2015. Finally, imports of other business services grew by 33.1%. They totaled EUR 5.2 million or 13.3% of total Belgian imports of services from Indonesia. BELGIUM S TRADE RELATIONS WITH INDONESIA

4 SOME ECONOMIC INDICATORS 23 BELGIAN FOREIGN TRADE AGENCY

INDONESIA 4. some economic indicators on the economy of Indone sia ECONOMIC STRUCTURE (2014 - ESTIMATES) GDP 888.6 billion USD GDP GROWTH 5.0% INFLATION 6.4% EXPORTS OF GOODS (FOB) IMPORTS OF GOODS (FOB) TRADE BALANCE POPULATION 175.3 billion USD 168.4 billion USD 6.9 billion USD 256.0 million UNEMPLOYMENT RATE 6.1% 24 MAIN CLIENTS: % OF TOTAL (2014) MAIN SUPPLIERS: % OF TOTAL (2014) JAPAN 13.1 CHINA 17.2 CHINA 10.0 SINGAPORE 14.1 SINGAPORE 9.5 JAPAN 9.6 UNITED STATES 9.4 SOUTH KOREA 6.7 MAJOR EXPORTS PALM OIL OIL AND GAS ORES AND SLAGS MAJOR IMPORTS MACHINERY AND EQUIPMENT ELECTRONIC EQUIPMENT CHEMICALS Source: CIA World Factbook BELGIUM S TRADE RELATIONS WITH INDONESIA

5 INDEX OF THE UNIT PRICE IN IMPORTS AND EXPORTS 25 BELGIAN FOREIGN TRADE AGENCY

INDONESIA 5. Index of the uni t pric e in impor ts and expor ts The table below gives an overview of the evolution of the index of the unit price in imports and exports for Belgium (with the world). Thanks to this index, the general evolution of the price of goods can be analyzed. This makes it possible to see the global evolution of Belgian imports and exports in perspective by determining the part which is caused by the price evolution (and hence which part is caused by a change in quantity). 26 The table has to be interpreted as follows: If a given product had an export value of EUR 100 in the year 2010, then this product had an average value of EUR 107.5 in 2014. The same principle goes for imports. If a particular product had an import value of EUR 100 in 2010, the same product had an import value of EUR 108.7 in 2014. Index of the unit value of total Belgian exports and imports (2010=100) EXPORTS IMPORTS 2001 86.3 83.0 2002 86.1 81.7 2003 85.1 80.8 2004 86.3 82.9 2005 90.9 88.6 2006 94.3 92.7 2007 96.6 93.8 2008 100.4 100.4 2009 93.8 92.0 2010 100.0 100.0 2011 106.9 108.4 2012 109.5 111.7 2013 108.7 110.7 2014 107.5 108.7 Source: Eurostat BELGIUM S TRADE RELATIONS WITH INDONESIA

6&7 SOURCES AND CONTACTS 27 BELGIAN FOREIGN TRADE AGENCY

INDONESIA 6. Sources World Bank www.worldbank.org National Bank of Belgium www.nbb.be CIA World Factbook www.cia.gov Directorate-General Commerce, European Commission http://ec.europa.eu/trade Eurostat, European Commission http://ec.europa.eu/eurostat Credendo Group www.credendogroup.com World Trade Organization www.wto.org 28 7. Contacts STUDIES AND STATISTICS Christelle Charlier Director +32 2 206 35 78 christelle.charlier@abh-ace.be Sammy Sioen Statistics Administrator +32 2 206 35 63 sammy.sioen@abh-ace.be Dennis Gijsbrechts Statistics Administrator +32 2 206 35 73 dennis.gijsbrechts@abh-ace.be David Leffler Assistant +32 2 206 35 64 david.leffler@abh-ace.be BELGIUM S TRADE RELATIONS WITH INDONESIA

INDONESIA Belgian Foreign Trade Agency Rue Montoyer 3 1000 Brussels +32 2 206 35 11 www.abh-ace.be Brussels Invest & Exports Avenue Louise 500/44 1050 Brussels +32 2 800 40 00 www.brusselsinvestexports.be 30 Flanders Investment and Trade Boulevard du Roi Albert II, 37 1030 Brussels +32 2 504 87 11 www.flandersinvestmentandtrade.be Wallonia Exports-Investment Agency Place Sainctelette 2 1080 Brussels +32 2 421 82 11 www.awex.be Although everything possible was done to provide precise and updated information, neither the Belgian Foreign Trade Agency nor its partners (Brussels Invest & Exports, Flanders Investment and Trade, Wallonia Exports-Investment Agency, FPS Foreign Affairs, Foreign Trade & Development Cooperation) can be held responsible for any error, omission or false declaration. They cannot either be held responsible for the use or interpretation of information contained in this publication which does not involve giving advice. Reproduction is authorised, provided the source is acknowledged. DATE OF PUBLICATION: JANUARY 2016 EDITOR: MARC BOGAERTS AUTHOR: DENNIS GIJSBRECHTS PRINTED ON FSC AND EPFC PAPER. THIS PUBLICATION IS ALSO AVAILABLE ON THE WEBSITE OF THE BELGIAN FOREIGN TRADE AGENCY: WWW.ABH-ACE.BE BELGIUM S TRADE RELATIONS WITH INDONESIA