He said the Indonesia-Philippines Business Association (IPBA), launched in Cebu on May 6, marks a milestone in 75 years of economic relations and reflects both countries’ commitment to strengthening cooperation.
“Our hope is that IPBA will serve as a strategic gateway for businesses from both countries to boost trade, investment, and partnerships,” Santoso said in a statement on Saturday.
Initiated by Indonesia’s trade attaché in Manila in 2024, the association is expected to expand business networks and leverage existing trade frameworks to increase the volume and value of bilateral commerce.
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Santoso said IPBA could also help businesses address trade barriers, which he described as essential for sustaining growth.
“Trade diversification will make us more resilient against global challenges,” he added.
The association will also serve as a platform to promote Indonesian products in the Philippines through trade missions, business forums, and business-matching sessions linking buyers, distributors, importers, and investors.
Indonesia exported goods worth US$10.22 billion to the Philippines in 2025, making it the country’s eighth-largest export destination, while Indonesia ranks as the Philippines’ fourth-largest import source.
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Indonesia sees strong potential to expand exports of products such as metal goods, ore concentrates, and vegetable oils to the Philippine market.
Translator: Maria C, Tegar Nurfitra
Editor: Rahmad Nasution
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