Indonesia - India Strengthen Hub Trade: The Export Reached US$ 13,2 Billion

Doc. InfoSAWIT
Indonesia - India Strengthen Hub Trade: The Export Reached US$ 13,2 Billion

InfoSAWIT, JAKARTA Vice Minister of Trade, Jerry Sambuaga mentioned, India has become the important trade partners for Indonesia. Indonesia and India commit to escalate bilateral trade and investment. It was told in a meeting with India’s stakeholders in Indonesia at Hotel The Langham, Jakarta, Tuesday (10/5/2022).

The meeting was initiated by the Embassy of India. The Ambassador of India to Indonesia, Manoj Kumar Bharti; General Director of National Export Development, Didi Sumedi; and Expert Staff of Minister of Trade in Market Security, Sutriono Edi attended the meeting.

"The meeting is the same with the two leaders’ target to escalate the trade value of Indonesia - India to be US$ 50 billion in 2025. It is hoped, the two countries would have economic recovery and be better,” Jerry said, as in the official statement to InfoSAWIT.

In the meeting, there were 45 stakeholders initiating introduction and delivered their attention to do business in Indonesia, such as, material import issues and permits of business. They also appreciated the Government of Indonesia for its business helps.

According to Central Bureau of Statistic, the exports from Indonesia to India in 2021 reached US$ 13,2 billion or increased 27,85% compared to the previous year. The main export products were coal, crude palm oil, iron, industrial mono carboxylic fatty acid, tin seeds. While the main import products of Indonesia from India were half iron products, sugarcane or bit, bean, frozen cow meat, and combine iron.

He also explained, India is the 26th foreign direct investment for Indonesia. “Investment realization from India in Indonesia reached USD 49,5 million in 465  projects. Three biggest sectors are textile; business activity, industrial region, and area; and trade and reparation sectors,” he said. (T2)