TheJakartaPost
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Economy in brief: RI seeks opportunity amid trade tensions
The government is set to explore new export destinations as trade tensions between two of Indonesia’s main trading partners, the United States and China, continue to rise
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span>The government is set to explore new export destinations as trade tensions between two of Indonesia’s main trading partners, the United States and China, continue to rise.
Ongoing trade tension between the world’s two largest economies have now spread to other countries and regions such as Canada, Mexico and the European Union, and have seen them slapping import tariffs on various commodities and other goods ranging from steel and aluminum to bourbon, clothing and agricultural goods.
Trade Minister Enggartiasto Lukito said his office was seeking opportunities to fill in the gap as countries took increasingly protectionist measures.
“In a situation like this, we will be very careful, but it doesn’t mean we won’t take action. We […] see this as an opportunity to fill in the gap,” said the minister during the ministry’s halal-bihalal (Idul Fitri gathering) event in Jakarta on Friday.
Enggartiasto and representatives from the Trade Ministry are set to embark on a trade mission next week to Tunisia and Morocco in search of new export destinations.
The minister is also set to travel to Japan next week to attend an intersessional meeting to discuss the preparation of the Regional Comprehensive Economic Partnership (RCEP).
Enggartiasto said Indonesia would secure bilateral meetings with several countries.
“[We will discuss opportunities for Indonesia to] increase exports,” he said, adding that the goods he had in mind included crude palm oil, textile, steel and agricultural goods.
The RCEP is a proposed free trade agreement between the 10 ASEAN members (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam) and six other countries — China, India, Japan, South Korea, Australia and New Zealand.
