JAKARTA - Minister of Trade Muhammad Lutfi revealed that the Ministry of Trade encourages business players and exporters to maximize the utilization of the implementation of the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA). If used properly, the IA-CEPA can encourage trade between the two countries while increasing Indonesia's exports to the Kangaroo Country.
Until March 2022, the total trade value between Indonesia and Australia was recorded at USD 2.79 billion, down 2.31 percent compared to the same period the previous year. Meanwhile, in 2021, trade between the two countries was recorded at USD 12.6 billion, up 76.84 percent compared to 2020 which was USD 7.15 billion.
Indonesia's main non-oil and gas exports to Australia include electronic parts, tropical wood, fertilizers, steel and gold. Meanwhile, Indonesia's imports from Australia include iron ore and concentrates, bituminous coal, wheat and meslin, iron ore and sugar.
Previously, President Jokowi had also released the first export of Indonesian-made vehicles to Australia last February. According to President Jokowi, this achievement has increasingly given confidence in the quality of Indonesian products and opened up access for other Indonesian products. (LM)