"They are the largest commodities exported to China. First is still CPO and the second is minerals, which is the coal," Kadin's Deputy Chairman for Trade Juan Permata Adoe remarked here on Friday.
Adoe noted that in terms of the export of Indonesia's food and horticultural commodities, durian fruit is the most popular.
He revealed that China has plans to invest in Indonesia's downstream industry.
"In addition, China is willing to invest in rice farming with technology. This will benefit Indonesia through learning," he remarked.
Meanwhile, the Indonesian Ministry of Trade expressed optimism that exports to China would increase this year, as the government is optimizing the Two Countries Twin Park (TCTP) cooperation.
Related news: Barantin seeks market access for Indonesian exports to China
China is still Indonesia's major trading partner, occupying almost a quarter of Indonesia's total exports.
The Trade Ministry, based on official data from the Statistics Indonesia (BPS), estimated that exports to China last year had reached US$60 billion.
The government is optimistic that the export value to China would reach US$70 billion in 2024.
In addition, the World Trade Organization (WTO) predicted that the global trade volume would increase this year.
Based on this study, the Trade Ministry is upbeat about shipments of goods to China also increasing.
China remains Indonesia's main trading partner country by contributing almost a quarter of Indonesia's total exports. The value of exports to China from January to November 2023 reached US$56.57 billion, down about two percent from the previous year.
Related news: East Java offers to export porang, bird's nests to China
Translator: Aji C, Kenzu
Editor: Yuni Arisandy Sinaga
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