Business Summit Produces 11 Points of Joint Declaration

Jakarta, IORA – IORA Summit 2017, on Tuesday (7/3), discusses the results of the Business Summit held yesterday. There were 11 points of declaration produced in the meeting of 21 chambers of commerce and industry of IORA member states set out in an action plan, as stated by the Head of Indonesian Chamber of Commerce Rosan Perkasa Roeslani. 

The joint declaration emphasized on trade sector development, small and medium enterprises, reduction of trade barriers, and better connectivity in Indian Ocean region.

The action plan itself is a document containing actions to implement the Jakarta Concord that includes vision and norms of the future IORA cooperation in facing the challenges in the region. Moreover, the action plan will also strengthen the implementation of priority areas and cross-sectoral commitments. “We have formulated and will include it in the action plan. It will not stop here and there will be monitoring,” Rosan said.

Rosan explained that the formulation proposed by the association of business people from 21 IORA member states is to eliminate regulations that hamper, during this time, trade and investment sectors in all member states. All countries also agreed to conduct a joint promotion.

In addition, there will be vocational trainings for the skills needed in the companies of IORA member states and educations for young business people in building their own business. These points will be included in the action plan.

“This is for small and medium enterprises because 90 percent of IORA’s economy contributed by them,” he said.

Rosan is optimistic that the agreement would bring benefits to all IORA member states. The points formulated by the business people of IORA member states are also the aspiration of all leaders and have been agreed by all participants.

“We believe that IORA member states will pay attention to common interest, including to expand trade sector,” Rosan said.

11 Points of Declaration

1. Trade diversification focusing on Small and Medium Enterprises
2. Elimination of obstacles in trade sector
3. Increase of direct trade
4. To maintain a more inclusive and conducive investment climate
5. Mobilization of foreign and domestic private investment
6. To pay attention to food security, manufacture, infrastructure development, maritime cooperation, tourism, and access to capital and financial markets
7. To develop better connectivity, through private investment mobilization
8. Collaboration in education sector, training, and internship to improve the skills and entrepreneurship
9. Women and young business people empowerment
10. Improvement of public policy
11. To encourage cooperation based on equality and mutual advantage