Economic diplomacy prioritized to expand Indonesia′s export markets: Foreign Minister

15 January, 2019 | Source: Antara News

Economic diplomacy has become one of the priorities of the Indonesian foreign policy by boosting the country′s economic and trade cooperation with African, Central, and South American countries, Foreign Minister Retno L. P. Marsudi stated.


In her annual press statement here on Wednesday, the minister noted that one of the endeavors that Indonesia had made to strengthen its cooperation with the new markets in Africa was the convening of the Indonesia-Africa Forum in early 2018.

As a result, related parties signed a business agreement worth over US$586 million and a business announcement worth some $1.3 billion, she remarked, adding that Indonesia had also attempted to focus on the new markets in Central and South America.

The endeavor had enabled Indonesia to boost its trade cooperation with countries in Central and South America, including Cuba and Ecuador, with an increase of above 100 percent, Marsudi said.

Indonesia`s economic and trade cooperation with countries in Central and Eastern Europe, including Malta, Latvia, and Slovakia, also showed a similar trend.

"Our endeavor to strengthen our economic diplomacy involves various stakeholders, including state-owned enterprises as well as the banking and private sectors," she remarked.

Empowering the infrastructures of bilateral economic cooperation through the Comprehensive Economic Partnership Agreement (CEPA), Free Trade Agreement, and Preferential Trade Agreement (PTA) was also carried out to push economic diplomacy.

This strategy was aimed at increasing the competitiveness of Indonesia`s products in foreign markets. Several negotiations on the CEPA had been completed by Indonesia with countries, such as Australia and Chile, she noted.

"It is the first time for us to negotiate on the PTA with African countries, such as Mozambique and Tunisia. Our PTA negotiations with Morocco and Sri Lanka are still underway," Marsudi stated.

Indonesia has also been approaching several regional economic organizations, including the Economic Community of West African States and Eurasian Economic Union, to discuss the PTA.

"Without these efforts, the competitiveness of our products will be lower than that of other countries′ goods," she pointed out.

Economic diplomacy has also helped expand the sales of Indonesia`s strategic industrial products, including the state-owned train maker PT Industri Kereta Api`s (INKA`s) extra strong train cars to Bangladesh and CN-235 aircraft to Senegal.

It also supports investment inflows and the country′s infrastructure projects as well as defends Indonesia′s palm oil products that have been targeted by those launching black campaigns in several countries, including those in the EU region.

Indonesia has been working closely with Malaysia, two of the world`s main palm oil producers, to face the black campaigns against these strategic products.

"Indonesia will continue to fight against acts of discrimination against our palm oil products," she emphasized.

 

Indonesia′s state-owned enterprise producing military and commercial products, PT Pindad, has planned to develop Anoa 3 panzer to be known as Anoa desert, which would then be exported to Middle East countries.
Indonesia′s delegation and other Council of Palm Oil Producing Countries (CPOPC) members have steadfastly and vehemently expressed their objection to the European Union (EU) over discrimination against palm oil.
At the Alliance for Multilateralism forum held in New York, USA, on April 2, Indonesian Foreign Affairs Minister Retno Marsudi called on international cooperation for the United Nation Security Council.
Indonesian Vice Minister of Foreign Affairs A.M. Fachir voiced the Indonesian government′s steadfast commitment to boosting the nation′s food security and guaranteeing the welfare of farmers.
The government has said Indonesia will accelerate the mandatory use of 30 percent blended biodiesel ( B30 ) in anticipation of the European Union’s move to ban palm oil-based biofuel in its member countries.
The Indonesia-South Pacific Forum (ISPF) held a business event themed "Connecting Peoples for Sustainable Growth" in Jakarta to strengthen Indonesia and the South Pacific countries′ relations.
Address: 1068 Budapest, Városligeti fasor 26. | MAP |
Phone: (+36-1) 413 3800 Fax: (+36-1) 322 8669
E-mail: embassy@indonesianembassy.hu