"Currently, the total is USD2.95 billion (around Rp45.8 trillion). We hope that before the end of September, it can exceed USD3.5 billion," Mansury noted in a press conference during the 2nd IAF here on Tuesday.
According to the deputy minister, most business agreements between Indonesia and African countries have been finalized during the IAF and HLF MSP held on September 1-3.
These agreements include optimizing gas to produce fertilizer and ammonia, as well as management in the oil and gas sector at the upstream level.
"There will be additional agreements until mid and the end of September. We are optimistic that we can achieve the target," he remarked.
Meanwhile, Indonesia also agreed to develop a strategic partnership action plan for 2024-2029 with South Africa.
This encompasses increasing business relations through visa exemptions and exploring the Preferential Trade Agreement (PTA).
"I have just met the East Africa Community (EAC) where its focus is on economic integration development in East Africa," he added.
Mansury explained that the EAC has eight members, though it expects to have 15 members.
The Indonesian Ministry of Finance reported that the trade value between Indonesia and the EAC reached USD1.2 billion, or around Rp18.6 trillion, and this figure is expected to increase through PTA.
"We will be able to benefit from the increase in our trade, including in health, food, textiles, and garment products," he remarked. Related news: Indonesia inks health investment deals worth US$94.1 mln at IAF
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Translator: Kuntum R, Kenzu
Editor: Rahmad Nasution
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