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Jakarta Post

RI diversifies trade, accelerates deals in anticipation of trade war: Minister

  • Anton Hermansyah
    Anton Hermansyah

    The Jakarta Post

Jakarta   /   Thu, March 8, 2018   /   04:11 pm
RI diversifies trade, accelerates deals in anticipation of trade war: Minister National Development Planning Minister Bambang Brodjonegoro said Indonesia was ready to become fair trade partners with any country. (The Jakarta Post/wienda parwitasari)

Indonesia is preparing for a tougher trade war by diversifying its export destinations and accelerating the process of trade agreements with its traditional export destinations, said National Development Planning Minister Bambang Brodjonegoro in Jakarta on Thursday.

Bambang was asked to comment on United States President Donald Trump’s plan to impose a 25 percent import tariff for steel and 10 percent import tariff for aluminum.

Many countries responded to the plan with outrage. China and the European Union have said they would retaliate if the US went ahead and implemented its plan.

"Indonesia’s strategy is to expand the export destinations and establish agreements with countries of our traditional markets,” said Bambang at his office on Thursday.

For market diversification, the government had been in trade talks with Pakistan, India and Turkey, as those countries could become new Indonesian export destinations, Bambang said, adding that Indonesia was currently also involved trade talks with the EU and Australia.

He stressed that Indonesia was ready to become fair trade partners with any country. "We are aware that there will be no country that is interested to make a trade agreement with Indonesia if they have to have a big trade deficit," he said. (bbn)