Coface reinforces co-operation with Adira to develop trade credit market in Indonesia
Coface has been supporting PT Adira Dinamika Asuransi (Adira) to offer trade credit insurance for Indonesian companies since 2008. In February 2013, Coface opened an official Representative Office in Jakarta to provide better support to Adira to promote trade credit management in Indonesia.
Indonesia is the largest economy in South East Asia in terms of size and one of the strongest economies in Asia with an average of over 6% GDP growth in recent years. Driven by a very dynamic domestic demand and fast growing exports, economic growth will remain strong in 2013 and onwards.
In this respect, trade credit services are important to support Indonesian companies to expand their business in both domestic and export market. In 2008, Coface concluded a technical partnership agreement with Adira by providing Adira with the technical, operational and system resources required for operating corporate credit insurance in Indonesia.
In an event of celebrating the 11th anniversary of Adira in Jakarta on 6th March, Coface and Adira signed an Memoradum of Understanding to further strengthen the co-operation.
Indra Baruna, President of Adira Insurance, believes Coface is a strong partner for Adira. “We are one of Indonesia’s largest insurance companies, and have for some time recognised a need for trade credit insurance. With the support of Coface – one of the best insurers in its field – we can build a platform of credit related services to satisfy the market, and make a direct contribution to the development of trade credit insurance in Indonesia.”
"Our co-operation with Adira has been very successful. We have built a strong working rela-tionship with Adira, and believe we can cooperate in fostering the growth of trade credit market in Indonesia.” said Richard Burton, CEO of Coface for Asia Pacific.
“We are excited by the prospect of opening a representative office in Jakarta,” said Jean-Michel Lafage, Country Manager of Coface for Indonesia. “There is immense scope for developing Indonesia’s corporate trade credit market, which we believe is essential to support continued economic growth. With better proximity to our partner, we could be able to provide closer local support to facilitate Adira to provide more customer-oriented services to its clients.’