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View all search resultsIn 2023, Indonesia exported US$1.5 billion worth of goods to Mercosur countries, ranging from coconut and crude palm oil to vehicle parts, while imports from the bloc reached $6.2 billion, dominated by oil cake, sugarcane and wheat.
resident Prabowo Subianto has urged Brazilian President Luiz Inácio Lula da Silva to lead efforts to conclude a Comprehensive Economic Partnership Agreement (CEPA) between Indonesia and the Mercosur bloc, also known as the Southern Common Market, as both sides seek to strengthen trade and investment ties amid tariff threats from United States President Donald Trump.
“I welcome your leadership of Mercosur, and we hope to finalize the Indonesia–Mercosur CEPA under your guidance,” Prabowo said at a joint press briefing with Lula on Wednesday, as quoted by Antara.
The meeting took place at the Palácio do Planalto presidential palace in Brasília, following Prabowo’s participation in the BRICS summit earlier this week in Rio de Janeiro. Indonesia, which was announced as one of the bloc’s newest full members earlier this year, joined alongside several other countries.
“We will also promote stronger cooperation through our sovereign wealth fund Danantara,” Prabowo added.
The two countries also agreed to boost cooperation in renewable technologies and agricultural modernization, with Indonesia currently serving as the fifth-largest export market for Brazilian agribusiness products.
Prabowo also said Jakarta would send more technical teams to Brazil to learn from its experience, especially in the development of biofuels. He reaffirmed Indonesia’s commitment to achieving 100 percent renewable energy by 2040 but noted the target could be reached ahead of schedule.
“My experts say we can do it well ahead of schedule. Again, we look to Brazil’s success in biofuels and are determined to catch up,” he said.
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