"In 2024, we want to increase trade relations from approximately $1 billion to $3 billion," Trade Minister Thomas Lembong stated after attending the New Zealand-Indonesia Business Forum on Monday.
Thomas explained that some of the products to be encouraged to boost the value of bilateral trade include agricultural products and also raw materials for feed, while New Zealand will supply milk and its derivative products.
In addition to these products, Thomas hoped for an increase in trade transactions in sectors, such as education, e-commerce, tourism, and services.
"We also want to witness a growth in sectors, such as education, e-commerce and of course, tourism, and services in the 21st century," Thomas emphasized.
Thomas added that Indonesia was focusing on collaborating with Australia, which is also expected to boost trade with New Zealand. Indonesia is also prioritizing on establishing multilateral cooperation.
"Bilateral trade between Indonesia and New Zealand will receive a boost due to the positive impact of a trade agreement between Indonesia and Australia, while we are still focusing on cooperation in forums, such as the WTO and RCEP, or multilateral cooperation," Thomas remarked.
The total value of trade between Indonesia and New Zealand in 2014 stood at $1.31 billion, of which the former had a deficit reaching $354.61 million, with total exports amounting to $481.4 million and imports, $836.03 million.
In 2015, the total value of trade between the two countries fell to $1.07 billion, and the deficit reached $200.8 million, with export performance also decreasing to $436.25 million and imports amounting to $637 million.(*)
Editor: Heru Purwanto
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