Jakarta. With longstanding diplomatic ties and growing ambitions for economic cooperation, Greece and Indonesia are looking to turn their relationship into a more substantial trade and investment partnership. Following the inaugural Joint Committee on Economic Cooperation (JCEC) in Jakarta, Greece’s Deputy Minister for Economic Diplomacy discusses the $1 billion bilateral trade target, investment opportunities, maritime cooperation, and the potential for closer economic ties between Southeast Asia and Europe.

1. Earlier this year, you co-chaired discussions with Indonesia’s Vice Minister for Foreign Affairs, Arif Havas Oegroseno, as part of preparations for the inaugural Indonesia–Greece Joint Committee on Economic Cooperation (JCEC). What were the key takeaways from those discussions? 

Greece and Indonesia have maintained diplomatic relations for more than 75 years, providing a strong foundation for a partnership with considerable untapped potential.

Our discussions in February with Vice Minister Arif Havas Oegroseno identified priority areas for cooperation. The inaugural session of the Joint Committee for Economic Cooperation (JCEC), held in Jakarta on 13 October 2026, marked an important step towards translating these priorities into concrete initiatives. I thank Vice Minister Oegroseno for his warm hospitality and the excellent organization of the session.

My meeting with Foreign Minister Arrmanatha Nasir further reaffirmed our shared commitment to closer bilateral relations, particularly in trade and investment, maritime cooperation, sustainable tourism, cultural heritage, and renewable energy.

Accompanied by a Greek business delegation, I also sought to strengthen direct engagement between our private sectors. We agreed with Vice Minister Oegroseno to work towards an ambitious target of US$1 billion in total bilateral trade between Greece and Indonesia.

Achieving this goal will require sustained dialogue, practical cooperation, and stronger business connections to translate our longstanding diplomatic friendship into a dynamic economic partnership that delivers tangible benefits and shared prosperity.

2. Trade between Indonesia and Greece has continued to expand, yet many observers believe the relationship remains underdeveloped relative to its potential. What are the biggest untapped opportunities that businesses in both countries should be looking at today?

Bilateral trade reached €302.3 million in 2025 and grew by 4.95% year-on-year in the first half of 2026. At the inaugural JCEC session, we agreed with Vice Minister Arif Havas Oegroseno to work towards the ambitious goal of increasing bilateral trade to $1 billion.

Achieving this requires diversification. Greek exports to Indonesia remain concentrated in cotton, leaving scope for olive oil, Mediterranean foods, and other high-quality products. Further opportunities exist in agri-food technology, fisheries, aquaculture, renewable energy, maritime transport, logistics, and digital services. Indonesian companies can also explore Greece as a gateway to European markets.

The Greek business delegation accompanying me provided an opportunity to develop direct commercial connections. KADIN Indonesia can play a pivotal role in sustaining this momentum by matching companies with prospective partners, facilitating business missions, and identifying concrete projects.

The objective is to move beyond limited trade flows towards a diversified partnership that creates opportunities and shared economic value.

3. Indonesia currently enjoys a strong trade surplus with Greece, driven by exports such as palm oil derivatives, paper products, and automotive components. How does Greece view the future of bilateral trade?

We view Indonesia’s strong export performance as an opportunity to deepen our economic relationship. Our objective is to expand trade, diversify its composition, and encourage two-way investment.

My meeting with Indonesia’s Deputy Minister of Trade, Dyah Roro Esti Widya Putri, provided an opportunity to explore additional avenues for cooperation.

Promising areas include Greek exports of building materials, food products, beverages, and tobacco, alongside partnerships in maritime industries, defense, and technology.

The EU–Indonesia Comprehensive Economic Partnership Agreement (CEPA), once in force, could further facilitate business engagement by improving market access and reducing barriers.

We do not view trade as a zero-sum equation. By drawing on our complementary strengths, encouraging private-sector partnerships and developing new investment opportunities, we can create a more diversified economic relationship that benefits Indonesian and Greek businesses alike.

4. Are there any specific initiatives under consideration to encourage greater Greek investment in Indonesia, particularly in sectors aligned with Indonesia’s industrialization, value-added processing, and downstream development agenda?

Greece seeks mutually beneficial investments that support Indonesia’s industrialization, downstream processing, and value creation.

Following my meeting with the CEO of the Indonesia Investment Authority (INA), we agreed to explore potential co-investment opportunities involving Growthfund, Greece’s national fund, as well as investment and development banks. The aim is to align Greek investment capabilities with Indonesia’s development priorities.

The memorandum of understanding between Enterprise Greece and KADIN Indonesia provides an additional framework for identifying projects and strengthening business relations. KADIN’s role is especially important in connecting Greek investors with Indonesian companies, helping them understand local priorities and facilitating practical business engagement.

Greek industry and business associations, chambers of commerce, and the Greek Embassy in Jakarta, working with the Indonesian Embassy in Athens, can facilitate investment missions and connect businesses.

Our priority is to move from dialogue to implementation by developing commercially viable projects that support industrial development, knowledge transfer, and long-term economic growth. By aligning investment with both countries’ strengths and priorities, we can build partnerships that deliver lasting mutual benefits.

Investment and Business Climate

5. Both Indonesia and Greece have worked to attract investment amid a challenging global environment marked by geopolitical tensions, supply chain disruptions, and economic uncertainty. From Greece’s perspective, what policy measures are most effective today in maintaining investor confidence and competitiveness?

Greece is committed to providing a stable, competitive, and predictable investment environment. Our regained investment-grade status has reinforced investor confidence, while the National Strategic Plan for Extroversion 2026–2030 guides efforts to attract foreign investment and strengthen international partnerships.

Our foreign direct investment framework, particularly for strategic investments, offers incentives and financing opportunities for eligible projects. We are also simplifying administrative procedures, accelerating licensing, digitalizing public services, and improving the effectiveness of the legal and regulatory framework.

These measures can make Greece more accessible to Indonesian investors while supporting Greek companies seeking opportunities abroad.

Ultimately, competitiveness depends on more than incentives. Transparency, predictable rules, and effective institutions are essential to long-term investor confidence. By strengthening these foundations, Greece aims to attract productive investment that creates jobs, facilitates knowledge transfer, and delivers lasting benefits for both economies.

6. As Deputy Minister responsible for Economic Diplomacy, how are you encouraging Greek companies to diversify beyond traditional European markets and explore opportunities in Southeast Asia, particularly Indonesia? Which sectors in Indonesia do you consider especially attractive to Greek investors over the next five to 10 years?

Economic extroversion is central to Greece’s strategy. Our National Strategic Plan for Extroversion 2026–2030 provides a framework for identifying promising markets and supporting Greek companies’ international expansion.

Indonesia stands out for its large domestic market, dynamic economy, strategic regional position and expanding digital sector. Promising sectors include renewable energy, maritime transport, logistics, agri-food, infrastructure, tourism, and specialized technology.

Tourism is particularly attractive. My meeting with Indonesia’s Vice Minister of Tourism, Ni Luh Puspa, highlighted opportunities for institutional cooperation, tourism education and the exchange of expertise and best practices.

Greece can contribute its experience in tourism management and sustainable development, while both countries can strengthen professional links and commercial partnerships.

Our approach is to connect Greek expertise and technology with Indonesian market knowledge and local partnerships, enabling businesses to develop sustainable ventures and establish a stronger presence in Southeast Asia.

7. Conversely, what opportunities does Greece offer to Indonesian investors looking to establish a foothold in Europe and the wider Mediterranean region?

Greece’s strategic location at the crossroads of Europe, Asia, and the Eastern Mediterranean makes it an attractive gateway for Indonesian businesses seeking access to the EU Single Market, the Balkans, and the wider Mediterranean region.

Our investment framework offers support for eligible projects, potentially including tax exemptions, streamlined licensing, liquidity support, and residence permits, subject to applicable requirements.

Enterprise Greece and the Hellenic–ASEAN Business Council can use their respective activities and networks to promote commercial ties with Southeast Asia and connect prospective partners.

Priority sectors include maritime services, logistics, tourism, renewable energy and agri-food.

Our objective is to help Indonesian companies identify opportunities, establish business connections and develop commercially viable projects. Whether investing directly in Greece or using it as a base for wider regional expansion, Indonesian businesses can benefit from Greece’s strategic location, European connections and established sectoral expertise.

8. How can Greece and Indonesia strengthen their maritime partnership, including through institutional cooperation, skills development and greener shipping?

Maritime cooperation is a natural pillar of Greece–Indonesia relations. Greece brings extensive expertise in shipping, ship management and maritime services, while Indonesia’s archipelagic geography makes maritime connectivity essential to its economic development.

Opportunities include port development, logistics, shipbuilding and repair, maritime education, professional training and greener shipping, alongside exchanges in maritime technology and operational efficiency.

Greece has proposed establishing a Joint Maritime Committee to coordinate dialogue, identify shared priorities and advance practical initiatives. Cooperation between Greek maritime organisations and Indonesia’s National Shipowners’ Association (INSA) can further strengthen business links and facilitate knowledge transfer.

We should also expand professional training and exchange expertise to support innovation and more sustainable maritime practices.

By combining Greek maritime capabilities with Indonesia’s strategic position and development needs, we can strengthen connectivity, develop professional skills and promote a more competitive and sustainable maritime sector.

9. Global supply chains continue to undergo significant restructuring. What role do you envision for Greece as a logistics and shipping gateway connecting Asia, Europe and the Eastern Mediterranean?

Greece is well positioned to serve as a Mediterranean logistics hub linking Asian trade routes with Central and Southeastern Europe, the Eastern Mediterranean and the Black Sea.

The Port of Piraeus provides an important entry point for Indonesian products destined for European markets, supported by wider transport and logistics networks. Greece’s EU membership further strengthens its role as a bridge to the European Single Market.

The recent signing of a memorandum of understanding on sister-city cooperation between Piraeus and Denpasar also opens opportunities for closer municipal cooperation and exchanges, complementing our broader bilateral engagement.

For Indonesian businesses, Greece offers a strategic base from which to reach European customers, develop distribution networks and explore investments in logistics and related services.

Our priority is to build on these geographical and infrastructural advantages by strengthening connectivity, diversifying commercial routes and fostering lasting partnerships between Indonesian, Greek and European businesses.

Europe, ASEAN and Geoeconomics

10. As ASEAN’s largest economy, Indonesia is becoming increasingly important in global supply chains and investment flows. How does Greece view Indonesia’s growing role in the international economic landscape?

Greece views Indonesia as an increasingly influential economic and diplomatic actor. Its G20 membership, industrial base, digital transformation and energy transition create opportunities for closer cooperation between Europe and Southeast Asia.

My meeting with ASEAN Deputy Secretary-General Dato’ Astanah Abdul Aziz in Jakarta provided an opportunity to discuss stronger engagement with ASEAN and its member states.

Greece is a High Contracting Party to the Treaty of Amity and Cooperation in Southeast Asia (TAC), reflecting our commitment to mutual respect, peaceful coexistence and the peaceful settlement of disputes.

Despite the geographical distance between our countries, Greece and Indonesia share important principles, particularly respect for international law and the United Nations Convention on the Law of the Sea (UNCLOS).

These common foundations can support stronger trade and investment, maritime cooperation and closer connections between Europe and Southeast Asia. Greece welcomes Indonesia’s growing international role and sees it as an opportunity to build a more ambitious partnership.

11. Amid rising economic fragmentation and geopolitical uncertainty, how important is it for countries such as Greece and Indonesia to strengthen partnerships and diversify their economic relationships?

In an increasingly uncertain international environment, diversifying economic relationships is essential to resilience. For Greece and Indonesia, stronger partnerships across regions can broaden commercial opportunities, strengthen supply chains and reduce exposure to external shocks.

The EU–Indonesia Comprehensive Economic Partnership Agreement (CEPA), once in force, is expected to improve market access, facilitate investment and reduce trade barriers, providing a stronger framework for bilateral economic cooperation.

Greek companies will have opportunities to explore the Indonesian market, while Indonesian businesses can benefit from Greece’s position as a gateway to the European Single Market, the Balkans and the wider Mediterranean.

We encourage businesses to prepare by identifying partners, assessing market needs and developing strategies to make effective use of the Agreement’s provisions.

Shipping, renewable energy, agri-food, infrastructure and technology offer particular potential.

Diversification is not simply about finding alternative markets; it is about building reliable partnerships and complementary capabilities. Greece and Indonesia can use these opportunities to strengthen economic resilience and support sustainable, mutually beneficial growth.

12. The Indonesia–EU Comprehensive Economic Partnership Agreement (CEPA) negotiations have made significant progress. How important would the successful conclusion of CEPA be for economic relations between Indonesia and Greece?

Greece warmly welcomes the conclusion of the EU–Indonesia Comprehensive Economic Partnership Agreement (CEPA). The Agreement represents an important step towards improving market access for goods and services, facilitating investment and establishing a more predictable framework for economic engagement.

Once it enters into force, CEPA will create opportunities for Greek companies to expand into Indonesia and for Indonesian businesses to benefit from Greece’s position as a gateway to the European Single Market, the Balkans and the Middle East.

We encourage companies on both sides to prepare by identifying partners, assessing market conditions and developing strategies to make full use of the Agreement’s provisions.

Promising areas for cooperation include shipping, renewable energy, agri-food, infrastructure and technology, alongside the exchange of expertise and know-how.

CEPA should be viewed as more than a trade agreement. It offers a stronger institutional foundation for deepening Indonesia–Greece economic relations, expanding commercial opportunities and building lasting partnerships between businesses in our two countries.

13. The global economic map is being reshaped by geopolitical tensions, supply chain diversification, the energy transition and technological transformation. In your view, where does Greece position itself in this emerging economic order, and how can Indonesia and Greece work together to capitalize on these shifts rather than merely adapt to them?

Greece’s strategic position at the crossroads of Europe, the Eastern Mediterranean and Asia enables it to serve as a gateway for trade, an energy hub and a link in global supply chains.

Indonesia, with its dynamic economy, young population and strategic importance in Southeast Asia, is a natural partner. Together, we can diversify supply chains, expand trade and investment, accelerate the energy transition and promote technological innovation and knowledge transfer.

My meetings with senior Indonesian government officials and ASEAN leadership underscored the potential for stronger bilateral and regional cooperation, including in trade, investment, innovation and cultural exchange. I was particularly pleased to meet Jakarta Governor Pramono Anung, a valued friend of Greece. We discussed opportunities to strengthen city-to-city cooperation, exchange best practices in urban development and create new partnerships in investment, tourism and innovation—areas where cities can help translate global economic shifts into tangible benefits.

I am grateful for the friendship and warm welcome extended by our Indonesian hosts. This spirit of partnership strengthens my confidence that Greece and Indonesia can shape new opportunities together, connecting Europe and Southeast Asia for mutual prosperity.

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