JAKARTA - The Ministry of Trade has successfully facilitated the signing of a memorandum of understanding (MoU) on business-to-business (B-to-B) cooperation between Indonesia and Germany. This signing also marks the achievement of the target of three memorandums of understanding of B-to-B counter-trade cooperation set for this year.
The signing of the Indonesia–Germany MoU took place virtually on Thursday (12/8). Previously, similar signings were carried out by Indonesia with Mexico on July 2, 2021 and with Russia on August 4, 2021.
“Through the signing of the MoU on the B-to-B counter-trade cooperation between Indonesia and Germany, the signing of the three MoUs targeted by the Ministry of Trade has been achieved. This signing opens opportunities for greater trade cooperation in the future. We hope that the cooperation contract can be realized as soon as possible,” said Secretary of the Directorate General of Foreign Trade of the Ministry of Trade Johni Martha who was present representing the Director of Export and Import Facilitation of the Ministry of Trade Marthin.
Some Indonesian products that can be exported to Germany include printing and photocopying machines, sports footwear, copper ore, electrical resistors, palm oil, rubber, and cocoa. In addition, products that are often imported from Germany include machinery, metal products such as iron, steel, aluminum, medicines and medical devices, vehicles, and fertilizers.
The total trade between Indonesia and Germany in the January–June 2021 period was recorded at USD 2.85 billion. Indonesia's exports to Germany were recorded at USD 1.37 billion and Indonesia's imports from Germany amounted to USD 1.48 billion, so that the non-oil and gas deficit for Indonesia was USD 113.36 million. (LM)