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Jakarta Post

Govt aims to conclude 12 trade deals

  • Rachmadea Aisyah

    The Jakarta Post

Jakarta   /   Fri, January 11 2019   /  02:42 am

The Trade Ministry has set a target to sign or at the very least conclude in 2019 negotiations over 12 trade agreements, some of which were originally intended to be signed in 2018.Quoting President Joko “Jokowi” Widodo, Trade Minister Enggartiasto Lukita emphasized the importance of the trade deals in opening new markets that could eventually boost export demand.Exports slumped throughout 2018 partly due to the United States-China trade war, which contributed to Indonesia’s US$7.52 billion trade deficit as of November. “We can only imagine what would happen [to our exports] if we insisted on exporting only to our traditional markets,” Enggartiasto said at a press conference on Thursday. “Therefore, we will strive to open [new markets] by concluding our ongoing trade agreements.”Three of them are preferential trade agreements (PTA) with African nations Mozambique, Tunisia a...