Event Reports

On December 8, Strategic ASEAN International Advocacy & Consultancy (SAIAC) along with Landesbank Baden-Württemberg (LBBW) and EuroCham organized a joint year-end event under the theme of Financial Outlook of 2023 “The Asia & Europe Case: A Cyclical Economic Phenomenon”. The discussion was addressed by Shaanti Shamdasani (CEO & Founder of SAIAC) and Dr. Kraemer Moritz (Chief Economist at LBBW), and moderated by Vera Galuh Sugijanto (Executive Board Member of EuroCham and Vice President of General Secretary at Danone Indonesia).

Both speakers reiterated 2023 economic challenges are projected due to the COVID-19 pandemic recovery, Russia-Ukraine War, and inclining inflation. Whilst Dr. Moritz saw a below-zero GDP growth rate in Eurozone, Shaanti projected that ASEAN, specifically Indonesia, is projected to be resilient and show steady growth in 2023. The discussion was concluded with a Q&A session with online participants. EuroCham would like to thank the speakers, moderator and participants for this lively session.

Director of Standardization of Traditional Medicines, Health Supplements, and Cosmetics – National Agency of Drugs and Food Control (BPOM) held a public consultation on the draft of BPOM Regulation on Supervision of Production and Distribution of Cosmetic products. The draft will revise the previous BPOM Regulation No. 2 of 2020 with the same title. The public consultation was held on 8 December and invited businesses, cosmetics associations and BPOM officials all around Indonesia. It is hoped that through the event, all related stakeholders could give inputs and recommendation in regards to the draft.