Both parties consider the completion of the Indonesia-Chile CEPA as important for economic cooperation, especially for increasing investment and improving cooperation between business actors, according to a statement issued by the Ministry of Foreign Affairs.
At the meeting, Sugiono also underlined the need to develop cooperation in the downstreaming of critical minerals in Indonesia to increase the added value of domestic commodities.
In addition to economics and trade, Minister Sugiono and Ambassador Artaza agreed that Indonesia and Chile must strengthen bilateral cooperation in other fields, such as sister city cooperation and naval training, as well as increase interaction between the people of the two countries.
Ambassador Artaza welcomed the idea of strengthening bilateral cooperation and expressed the hope for further strategic collaboration in the future.
He emphasized Indonesia's position as an important partner of Chile in the Asian region.
He also expressed support for Indonesia's accession to the Organisation for Economic Co-operation and Development (OECD) as well as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Based on government data, the Indonesia-Chile trade balance reached US$485.9 million in 2023, with Indonesia recording a surplus of US$139.2 million.
The value of Indonesia's exports to Chile in 2023 was recorded at USD312.6 million. Meanwhile, its imports from Chile stood at USD173.4 million.
The products exported by Indonesia to Chile include minerals, copper, chemical products, automotive spare parts, electronic spare parts, food, and palm oil.
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Translator: Nabil Ihsan, Yashinta Difa
Editor: Rahmad Nasution
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