"If possible, Indonesia would like to propose to establish a bilateral PTA with Tanzania. I also note that Tanzania is a member of the East African Community (EAC)," he said during his working visit to Tanzania, East Africa, Tuesday, December 17.
During the visit, Luhut met with Tanzania's Minister of Public Works, Transportation and Communication Isack Mawelwe.
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There is still plenty of room to increase cooperation in trade between Indonesia and Tanzania, he revealed.
"Indonesia has 270 million people, so it is a big market for Tanzania if you want to invest," Luhut said.
Since 2017, Indonesia has proposed to make a Preferential Trade Agreement (PTA) between Indonesia and EAC.
Tanzania's support will be very meaningful, especially while assigning each official to hold a preliminary discussion on this issue.
This working visit also resulted in an agreement on a follow-up dialogue between Tanzania and Indonesia in February 2020 to strengthen cooperation in the economic field.
Trade between Indonesia and Tanzania recorded a positive trend with 11 percent growth between 2014 and 2018. However, there was a 22 percent decline in the January to September 2019 period year-on-year. (INE)