The Indonesian Chamber of Commerce and Industry (Kadin) and the Governor of Bank Indonesia (BI) met to discuss several current issues, such as the weakening rupiah, challenges faced by the textile industry, and global economic conditions.

"If we look at the news, for example about the exchange rate. Earlier we wanted to get answers from inside (Bank Indonesia)," said Chairman of Kadin Indonesia, Arsjad Rasjid after a meeting with Governor of Bank Indonesia (BI) Perry Warjiyo at Menara Kadin, Tuesday (25/6/2024).

According to him, currently the Indonesian economy is in a fairly good condition when compared to other countries. For this reason, cooperation between the government, Bank Indonesia, and the private sector is needed to maintain Indonesia's fundamentals.

Kadin and BI discussed steps to anticipate unwanted possibilities. For example, the textile industry is facing challenges of layoffs and factory closures.

"‘Earlier we discussed what to anticipate, what to be agile, what to do," he explained.

In addition, the meeting also discussed the export proceeds from natural resources (DHE) as an effort to repatriate foreign exchange to the country. BI and Kadin encourage entrepreneurs to use local currency in transactions, especially with countries that have established local currency transaction (LCT) cooperation with BI. This is important in terms of maintaining the stability of the rupiah exchange rate with the US dollar.