InfoSAWIT, JAKARTA – President Joko Widodo officially re-opened crude palm oil (CPO) and its derivative export, though it runs in phase to maintain the supply and palm cooking oil price in the domestic.
Ministry of Industry, Agus Gumiwang Kartasasmita mentioned, in the first phase, Indonesia would export one million tons of CPO.
He said that when having the visit of Pakistan Minister of Industry and Production, Syed Murtaza Mahmud in Jakarta, Monday (13/6/202). Minister Agus said, Indonesia and Pakistan keep trying to escalate the comprehensive economic cooperation to escalate the economy for both countries.
One strategic way to do is that Indonesia would accelerate CPO and palm cooking oil exports to Pakistan.
“The government decided to re-open palm cooking oil export after the domestic supply is available and it gets cheaper. That is why Pakistan can be the potential country (to sell it),” Minister Agus said, as in the official statement to InfoSAWT.
He also told, the government accelerate CPO, refined bleached deodorized palm oil (RBDPO); and used cooking oil (UCO) distribution by conducting the exports since 7 June - 31 July 2022.
“This is about to optimize and stabilize CPO, RBDPO, and UCO production and trade,” he said. The program would be available for every exporter within the allocation reaching 1 million tons and every exporter should obey the regulation within the allocation, at least 10 tons and the multiples.
“I believe, the published regulation could accelerate CPO and its derivative imports to Pakistan,” he said. He hoped, the bilateral meeting would expand the cooperation between both countries in economy, which is, the follow up of Indonesia-Pakistan Trade in Goods Agreement (IP-TIGA) negotiation. This is about to accelerate economic recovery for both countries after Covid-19 pandemic.
Minister Agus is optimist that the better industrial cooperation with Pakistan would escalate the export work nationally. The total trade of both countries positively increased about 6,65% in 2017 - 2021 and positively increased about 41,77% in 2021-2022.
In 2021, the total trade of the two countries reaced US$ 3,9 billion within total export reaching US$ 3,8 billion and the imports from Pakistan reaching US$ 185 million, dominated by non-oil and gas sectors. In the past five years, Indonesia kept getting positive trade values. In 2021, the trade reached US$ 3,6 billion.
“Palm oil and CPO are the biggest export potential from Indonesia to Pakistan,” Minister Agus said. (T5)