"In the first half of this year, bilateral trade between the two countries rose by almost 43 percent from the same period in the previous year. However, our bilateral trade volume has not yet shown its true potential," she remarked.
Marsudi made the statement after a bilateral meeting with Lithuanian Foreign Affairs Minister Gabrielius Landsbergis in Jakarta on Monday.
Based on data from the Indonesian Trade Ministry, the value of bilateral trade between Indonesia and Lithuania had reached US$53.7 million in 2022, with a trade balance deficit trend of 5.12 percent during the 2018-2022 period.
To increase two-way trade and ensure more balanced trade, Marsudi sought support from Landsbergis in facilitating more Indonesian products to enter the Lithuanian market. Those products include rubber products, paper, and wooden furniture.
She also welcomed the presence of palm oil, which became one of the main export commodities from Indonesia to Lithuania.
"With almost 800 plantations in Indonesia having received ISPO (Indonesian Sustainable Palm Oil) certification, I am confident that Indonesia can provide more sustainable palm oil to Lithuania and the wider European market," she affirmed.
In a bid to bolster business-to-business relations, Marsudi welcomed the plan to ink a memorandum of understanding (MoU) between the Indonesian Chamber of Commerce and Industry and the Lithuanian Confederation of Industrialists on the sidelines of Landsbergis' visit to Jakarta.
In the field of investment, Indonesia commended the expansion of investment of the Lithuanian aviation industry at the I Gusti Ngurah Rai International Airport, Bali, and Lithuania's new charter airlines and air transportation services.
At Monday's meeting, also held to commemorate three decades of bilateral relations between Indonesia and Lithuania, the two ministers also discussed efforts to boost cooperation in information technology, liquefied natural gas (LNG) and renewable energy, agriculture, and space technology sectors.
Landsbergis stated that the two countries have the same interests in diversifying supply chains, strengthening cybersecurity, and improving resilience against hybrid threats.
He also emphasized Lithuania's support for the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA), for which negotiations are currently underway.
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Translator: Yashinta Difa, Raka Adji
Editor: Azis Kurmala
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