The Ministry of Trade targets non-oil and gas exports to Australia to increase to US $ 3.37 billion or equivalent to IDR 51.67 trillion (assuming an exchange rate of IDR 15,326 per US $) in 2023. Deputy Minister of Trade Jerry Sambuaga said that Indonesia in a bilateral meeting with Australia on Monday (21/8/2023), discussed and increased trade cooperation, including increasing the value of exports. Meanwhile, the government is still calculating the 2024 non-oil and gas export target, and hopes that the export value will increase in the future. The comprehensive economic partnership agreement between Indonesia and Australia or IA-CEPA waived entry fees for 7,000 products so he asked exporters including MSME players to take advantage of the opportunity. According to one data from the Ministry of Trade, Indonesia's total non-oil and gas exports to Australia in the first semester of 2023 were recorded at USD 1.4 billion.
This figure is down compared to the same period in 2022 of US $ 1.6 billion. Meanwhile, throughout 2022, Indonesia's total non-oil and gas exports to Australia reached USD 3.2 billion. The bilateral meeting was attended by Jerry and Australian Assistant Minister for Foreign Affairs Tim Watts. The existence of IA-CEPA increasingly provides benefits for both countries, including mutual recognition arrangements or MRA professional engineers, increasing the working holiday visa (WHV) quota to enter Australia, opening Australian universities in Indonesia, and others. Also discussed were the Regional Comprehensive Economic Partnership (RCEP) and AANZFTA.
Thursday, 24 August 2023 03:42
Indonesia Targets Non-Oil and Gas Exports to Australia in 2023 to Increase IDR 51 Trillion
