More Than Fifty Companies Attend the First Indonesia-Spain Business Forum in Madrid

Tuesday, 25 August 2026

Indonesia and Spain are looking for more ways to work together, and the first Indonesia-Spain Business Forum in Madrid showed that there is plenty of interest from businesses on both sides.

The forum was held at the Indonesian Embassy in Madrid on February 29, 2024. More than 50 businesspeople from Indonesia and Spain attended the event, which took place at the same time as a major delegation from the Indonesian Chamber of Commerce and Industry, or KADIN, visited Spain.

The meeting was designed to create new business opportunities and strengthen economic, trade, and investment relations between the two countries. For Indonesian companies, Spain can be an interesting market in Europe. At the same time, Spanish businesses can find opportunities in Indonesia, one of Southeast Asia’s largest economies.

KADIN’s Vice President for Investment, Tony Wenas, and the chairman of KADIN’s bilateral committee for Spain and Portugal, Irman Alvian, highlighted several sectors where Spanish companies could explore opportunities in Indonesia. Renewable energy and agricultural production were among the sectors mentioned during the forum.

The event also gave companies a chance to share their experiences. Several Spanish businessmen who already have investments in Indonesia, as well as Indonesian businesspeople with activities in Spain, talked about their experiences in both markets.

Interestingly, legal security and the ease of establishing a business were highlighted as important factors for companies operating internationally. This kind of discussion can be useful for businesses that are considering entering a new market but still want to understand the practical side of doing business there.

The forum attracted companies from a variety of industries. Spanish participants came from sectors including animal feed, renewable energy, biodiesel, agricultural products, wine, crew recruitment, and business associations. This shows that cooperation between Indonesia and Spain is not limited to just one particular industry.

The trade relationship between the two countries also has significant potential. From January to October 2023, Indonesia’s exports to Spain were valued at around US$2.461 billion. Although the figure was down 8.53 percent year-on-year, Indonesia still recorded a trade surplus with Spain during that period.

Investment from Spain into Indonesia was also growing. Between January and September 2023, Spain invested about US$19.69 million across 543 projects in Indonesia. The article noted that this represented a 35.95 percent increase compared with the previous year, with the largest share of Spanish investment going into the tertiary sector.

Tourism provides another connection between the two countries. In 2023, Indonesia welcomed 106,581 Spanish tourists, setting a new record and surpassing the previous high of 85,560 visitors recorded in 2018.

Overall, the first Indonesia-Spain Business Forum was a useful step toward closer economic cooperation. With renewable energy, agriculture, tourism, and other sectors offering opportunities, Indonesian and Spanish businesses have plenty of reasons to keep talking.

The forum may have been the first, but it could become a starting point for more investment, partnerships, and business projects between Indonesia and Spain in the future.