INASCA Business Forum 2024: Largest Indonesia-South Asia Business Forum to be Held for First Time

Jakarta, Indonesia - The Indonesia - South and Central Asia (INASCA) Business Forum 2024 will be a landmark event as Indonesia facilitates for the first time the meeting of businesses from Indonesia and from the South and Central Asia region in one forum for business interaction and strategic dialogue. The Forum will be held in Jakarta on 7 October 2024. This flagship programme is designed by the Ministry of Foreign Affairs to promote economic collaboration, showcase business opportunities, and facilitate strategic partnerships between Indonesia and South and Central Asian countries on an annual basis.

With the theme ‘Unlocking Potential and Fostering Economic Partnership’, INASCA 2024 aims to encourage market diversification among businesses and unlock untapped potential for multi-million dollar transactions. This is expected to increase Trade, Tourism and Investment between Indonesia and South and Central Asian countries in a sustainable manner.

The INASCA 2024 Business Forum will be organised in a hybrid manner by offering physical and virtual participation options to participants. Participants will have the opportunity to capture opportunities and develop networks with stakeholders in Indonesia and the South and Central Asia Region through panel discussions, business pitching and matching.

The South and Central Asia region, which has a population of around 2.1 billion, serves as an important nexus where politics, economics, and rich cultural diversity meet. With a combined GDP exceeding USD 5.2 trillion, the region is a large market with geographical and historical proximity to Indonesia. INASCA 2024 can be one of the opportunities for Indonesia to actively encourage attracting foreign investment, diversifying exports and increasing the tourism industry for economic improvement between Indonesia and South and Central Asian countries.

Economic relations between Indonesia and South and Central Asia have experienced tremendous growth, with total trade volume surpassing USD 43.5 billion in 2022. A total of 312,166 travellers from the South and Central Asia region have visited Indonesia, strengthening cultural and tourism exchanges between Indonesia and the region. In addition, investments totalling USD 142,000 have taken place demonstrating the strong relationship between Indonesia and the countries of the South and Central Asian Region.