JAKARTA, Feb. 13 (Xinhua) -- Indonesian start-ups were highly encouraged to explore further cooperation with Australian investors so as to expand their engagement with global market.

The encouragement was following positive results from the recent 'matchmaking' event resulted in 23 Letter of Intent (LoI) signed by start-ups and investors from Indonesia and Australia respectively.

The event was jointly held by Indonesia's Investment Coordinating Board (BKPM) agency through its Sydney representative, Indonesian embassy in Canberra, Indonesia Consulate General Office in Sydney and Indonesian Trade Promotion Center (ITPC) Sydney.

"This is what we can jointly carry out to encourage further partnership between Indonesian start-ups with global business network," Business Empowerment Director at the BKPM Pratito Soeharyo said in a statement on Tuesday.

BKPM Promotion Investment official Sri Moertiningrum said the event was participated by Indonesian start-ups in sectors of food and beverages, agro business, herbal and aromatherapy, jewelry, handicraft, fashion and leather goods.

They met with representatives of 30 potential investors from Australia during the event, she added.

Indonesian Ambassador to Australia Kristiarto Legowo who attended the event said the number of LoI documents signed in the event showed enormous potential of trade and investment partnership between the two countries.

"We would continue improving the communications with related parties so as to expand investment and trade between the two countries," he said.