Jakarta. Indonesia and Estonia have agreed to strengthen bilateral cooperation in digital technology, food and beverage, and tourism sectors through a memorandum of understanding signed by the chambers of commerce from both countries.

The MoU between the Indonesian Chamber of Commerce and Industry (Kadin Indonesia) and its Estonian counterpart was signed Tuesday at the Kadin Tower in Jakarta, with Estonian Foreign Minister Margus Tsahkna in attendance.

Bernardino M. Vega, Deputy Chair for International Trade at Kadin Indonesia, said Estonia is eager to expand its investment in Indonesia, particularly in the growing digital economy, F&B, and tourism industries.

“This MoU covers several areas with strong potential for cooperation, including digitalization, food and beverage, and tourism,” Vega said after the signing ceremony.

Foreign Minister Tsahkna said the high-level trade mission marks a step forward in deepening ties between the two nations, both of which share a strong commitment to innovation, entrepreneurship, and mutually beneficial partnerships.

He praised Indonesia’s leadership in Southeast Asia and its growing role on the global stage, particularly in the digital economy, an area where Estonia has also built an international reputation.

Estonia boasts the highest number of unicorn startups per capita in Europe, with globally recognized companies such as Skype, Playtech, Wise, Bolt, Pipedrive, Zego, ID.me, Gelato, Veriff, and Glia originating from the Baltic nation.

Tsahkna described Indonesia as a vital gateway to Southeast Asia --rich in diversity, creativity, and economic dynamism-- while positioning Estonia as a strategic entry point for Indonesian companies looking to access the European Union market or test innovative products and services.

In 2023, Indonesia imported goods worth US$51.42 million from Estonia, while its exports to Estonia reached US$394.68 million.