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Talk of the week: Indonesia, Philippines pledge to improve trade relations

Deal: Delegates from Indonesia and the Philippines sign an agreement during a meeting in Makati City, the Philippines, on April 1

The Jakarta Post
Fri, April 12, 2019

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Talk of the week: Indonesia, Philippines pledge to improve trade relations

D

eal: Delegates from Indonesia and the Philippines sign an agreement during a meeting in Makati City, the Philippines, on April 1. (Courtesy of the Indonesian Embassy in Manila)

Makati City, the Philippines

Indonesia and the Philippines have vowed to improve trade ties. Both countries have agreed to seek ways to eliminate tariff and nontariff barriers, especially in agricultural and food products.

At a bilateral meeting held in Makati City, the Philippines, on April 1, they also agreed to discuss technical matters in working group meetings, business forums, and business matching meetings.

The Indonesian delegation was led by Trade Minister Enggartiasto Lukita, while the Philippine delegation was led by Trade and Industry Secretary Ramon M. Lopez and Agriculture Secretary Emmanuel F. PiƱol, according to the Indonesian Embassy in Manila. The meeting strengthened the 70 years of bilateral relations between the two countries.

At the meeting, publicly listed food company PT Mayora Indah also signed an agreement to build coffee production facilities in the Batangas Special Economic Zone, the Philippines, with Lima Land Inc. (LLI) in the next five years. The project is expected to rake in US$80 million in profit and add 3,000 more jobs to the Philippine economy.

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