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Jakarta Post

Indonesia bets on trade agreements to boost exports in next five years

  • Eisya A. Eloksari

    The Jakarta Post

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Jakarta   /   Tue, November 12, 2019   /  12:15 pm
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Workers carry out loading and unloading activities at the Jakarta International Container Terminal (JICT) in Tanjung Priok, Jakarta. The government expects exports to grow between 6.88 and 12.23 percent by 2024.(Antara/Rivan Awal Lingga)

Indonesia is betting on bilateral and multilateral trade agreements to revive the country’s sluggish non-oil exports within the next five years. Trade Minister Agus Suparmanto said trade agreements would allow Indonesia to increase its exports, as the country would generally receive easier access and lower import tariffs as part of the trade concessions. At present, Indonesia is concluding at least 11 trade agreements and plans to ratify 13 others in the next five years. With the signing of these free trade agreements, the Trade Ministry is optimistic non-oil and gas exports will grow between 6.88 and 12.23 percent by 2024. “I think the target is realistic amid the global economic slowdown,” Agus said at a press conference at his office in Jakarta on Nov. 8. An expert staff member for international trade at the ministry, Arlinda, said that food and beve...