RI, Estonia to begin talks on new economic partnership

Indonesia and Estonia have agreed to start negotiations on an economic partnership to boost bilateral trade and investment.

The nations, meeting at their fourth bilateral consultative forum held in Tallinn, Estonia, on Friday, agreed to negotiate a memorandum of understanding on the partnership, Andy Aron, a secretary to the Indonesian Embassy in Helsinki, said in a press statement sent to Antara.

The delegations agreed that there was a “very high potential” for increased bilateral trade, given Estonia’s status as one of Indonesia’s major trade partners in the Baltic.

“Estonia is a portal through which Indonesian products and commodities, especially crude palm oil, can enter the Baltic and Nordic regions, as well as some parts of Russia,” Andy said.

Although nominally low, trade between Indonesia and Estonia has been increasing, with Indonesia showing a surplus in the past two years.