Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, made the observation in a written statement issued in Jakarta on Wednesday.
The commitment will also increase the volume and value of exports of Indonesian CPO products, which are currently being pursued after an export ban, Pandjaitan said.
"Thank you for the support of President Xi Jinping and Premier Li Keqiang for their commitment to import palm oil from Indonesia. We hope that China will continue and increase trade in palm oil from Indonesia," he added.
China's commitment to buy one million Indonesian CPO products is the result of a bilateral meeting between President Joko Widodo (Jokowi) and Premier Keqiang in Beijing on July 26, 2022.
Palm oil is the most productive oil crop and also an important commodity in world trade, Pandjaitan said. Therefore, Indonesia is committed to taking part as a major supplier of the important food ingredient.
"By becoming the world's main supplier of CPO, it will certainly help improve the Indonesian economy, as well as improve the welfare of oil palm farmers in Indonesia, whose number has reached 16 million," he added.
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In addition to discussing the CPO trade, the meeting between Indonesia and China also covered cooperation in various fields such as investment, infrastructure, finance, funding, and maritime affairs. The development of a green industrial park in North Kalimantan was also one of the topics discussed at the meeting.
In addition, the meeting discussed the completion of the Jakarta-Bandung high-speed railway project, which is a joint commitment between Indonesia and China. The two countries expressed their commitment to completing the project on schedule and testing it at the end of 2022.
"President Jokowi conveyed that the trade value between Indonesia and China has continued to increase and has exceeded US$100 billion. The opportunity to increase the trade figure is very big. Therefore, we will assist the President to look for other potential economic sources that can improve the Indonesian economy," Pandjaitan said.
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Translator: Ade Irma J, Resinta S
Editor: Suharto
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