Deputy Minister of Trade Says RI is Aiming at 15 ‘Free Trade’ Cooperations News – 1 hour ago

Tangerang, CNBC Indonesia – Deputy Minister of Trade (Wamendag) Jerry Sambuaga revealed that his party is currently exploring plans for economic agreement cooperation, aka free trade cooperation, with a number of partners. Meanwhile, he said, Indonesia now has 38 international trade cooperation agreements, both bilaterally, regionally and multilaterally.

Quoting Jerry’s presentation at the opening of Trade Expo Indonesia (TEI) 2023, among the 15 cooperation plans currently being explored, there is a negotiation process with a number of countries in Africa.

Negotiations that are currently in the process of being explored by the Ministry of Trade (Kemendag) include cooperation with:

– South African Customs Union (SACU)

– Economic Community Of West African States (Ecowas)

– East African Community (EAC)

– Djibouti

– Algeria

– Gulf Cooperation Council (GCC)

– Sri Lanka

– Ecuador

– Fiji

– Colombia

– Papua New Guinea

– Ukraine

– India

– ASEAN-European Union.

“Currently, Indonesia has 38 trade agreements, both bilateral, regional and multilateral, and they are found in all continents of the world,” said Jerry at the opening of the 38th Trade Expo Indonesia (TEI) at ICE BSD Tangerang, Wednesday (18/10/ 2023).

Jerry then detailed 38 agreements that had been signed, ratified and implemented, including with Japan, Pakistan, Palestine, Chile (Trade in Goods and Services), Australia, the European Free Trade Association (EFTA), Mozambique, the Regional Comprehensive Economic Partnership (RCEP), Korea, United Arab Emirates (UAE), Preferential Trade Agreement Developing Eight (PTA D-8), Trade Preferential System of the Organization of the Islamic Conference (TPS-OIC), ASEAN Scope, WTO Trade Facilitation Agreement (TFA), Fisheries Subsidies , World Trade Organization (WTO), Indonesia-Canada Comprehensive Economic Partnership Agreement (ICA-CEP), Iran, also Indonesia-Malaysia Border Trade Agreement (BTA)

Meanwhile, for the agreement being negotiated, Jerry explained, there were 15 negotiations. These include the European Union, Turkey, Pakistan (Trade in Goods Agreement/ TIGA), Bangladesh, Tunisia, Mauritius, Morocco, Canada, the Preferential Trade Agreement between the Common Market in the South (MERCOSUR), the Eurasian Economic Union (EAEU), the ASEAN and Peru Scope .

“So the performance of trade agreements and trade agreement negotiations that have been carried out by the Ministry of Trade have really provided many aspects of convenience for business actors in exporting abroad,” he said.

Furthermore, Jerry also said that currently the Ministry of Trade has trade representatives spread across 31 countries.

“It is hoped that (trade representatives) will be the spearhead of Indonesian exports who play a role in promoting and marketing Indonesian products abroad,” said Jerry.

Where, Jerry added, the trade balance recorded an achievement for 41 consecutive months of being able to remain in a surplus position.

“From January to September, our cumulative trade balance was a surplus of US$ 27.75 billion,” said the Deputy Minister of Trade.

TEI target 2023

Meanwhile, Jerry said, currently Indonesia has succeeded in controlling inflation. Where, he continued, in September 2023, inflation will remain under control at the level of 2.8% amid concerns regarding rising food commodity prices in the global situation.

“Apart from that, we are also grateful that economic growth in the second quarter of 2023 grew by 5.17%, an increase from the previous quarter of 5.04%. Our export contribution has also increased and continues to grow, where last year it was recorded at 24.49%, an increase compared to 2020 and 2021,” he said.

Jerry hopes that holding TEI this year can contribute to increasing exports with a trade transaction target of US$ 11 billion.

“In this implementation, a commitment by mission will be signed, which to date has recorded 187 MoUs (memorandum of understanding/Memorandum of Understanding) from 32 countries which will be signed after the inauguration of the opening ceremony,” he said.

“These various commitments are also influenced by existing international cooperation. And currently Indonesia has 38 trade agreements, both bilateral, regional and multilateral, and they are found in all continents of the world,” said Jerry.

Jerry said that in implementing this TEI, a number of purchase commitments would be signed between exporters and trading partners.

[Gambas:Video CNBC]

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