BANGKOK – Indonesia invites Canada to further strengthen cooperation with Indonesia and ASEAN. Especially, to ensure that the global economic recovery after the Covid-19 pandemic can be felt by ASEAN countries and Canada. The Minister of Trade of the Republic of Indonesia Muhammad Lutfi hopes to cooperate with Canada and jointly promote economic recovery in the region in the 70 years of the cooperative relationship between Indonesia and Canada.
This was conveyed by the Minister of Trade Lutfi in a bilateral meeting with the Canadian Minister of Small Business, Export Promotion and International Trade (Minister of Small Business, Export Promotion and International Trade), Mary Ng, Saturday (21/5). "We hope that Indonesia and ASEAN can establish close cooperation with Canada to ensure a rapid economic recovery in the region," said Trade Minister Lutfi.
The latest developments related to the preparation of the Free Trade Agreement Negotiations between ASEAN and Canada (ACAFTA) were also discussed. The ASEAN and Canada negotiating teams have completed the Terms of Reference for the Trade Negotiations Committee, the 2022 Work Plan, and the ACAFTA Negotiation Structure. These three documents will form the basis for the upcoming ACAFTA negotiations.
Indonesia's trade value with Canada in the January-March 2022 period was recorded at USD 942.66 million, or an increase of 32.54 percent compared to the same period in 2021 which was recorded at USD 711.25 million. In 2021, Indonesia's total trade with Canada will be recorded at USD 3.1 billion. Indonesia's leading export products to Canada are natural rubber, sports uniforms, motorcycle parts, pneumatic tires, and footwear. Meanwhile, Indonesia's leading imported products from Canada are wheat, fertilizers, wood pulp, soybeans, and iron ore. (LM)