Jumat 02 Apr 2021 23:46 WIB

Indonesian-China Trade Could Increase Three Times

Currently, the trade value between Indonesia and China stands at US$ 31 billion.

Rep: Intan Pratiwi/ Red: Elba Damhuri
Trade Minister Muhammad Lutfi was speaking at a press conference in Jakarta. M Lutfi visits China to increase cooperation and trade with his China's counterpart.
Foto: Republika/Iit Septyaningsih
Trade Minister Muhammad Lutfi was speaking at a press conference in Jakarta. M Lutfi visits China to increase cooperation and trade with his China's counterpart.

REPUBLIKA.CO.ID, JAKARTA -- Indonesia and China have agreed to improve trade relations between the two countries in the future. Indonesia and China agreed to triple their trade balance in the next three years.

Indonesian Trade Minister Muhammad Lutfi stated this during a working visit to Wuyi, Fujian, China, on Friday (2/4). In his meeting with the Chinese Minister of Commerce, Wang Wentao, Lutfi discussed that up to three years the two countries would increase trade.

Currently, the trade value between Indonesia and China stands at US$ 31 billion. According to Lutfi, the two countries agreed to set a new target for the next three years, namely the trade between the two countries could reach 100 billion US dollars in 2024.

"The new target is in the next three years, we will triple trade from US$ 31 billion today to US$ 100 billion in 2024," said Lutfi from Wuji, Fujian, Friday (2/4).

Lutfi explained in order to increase trade, two countries had signed a cooperation agreement since 2011. However, with the new target, the two countries took this agreement to a higher level. This means that trade between the two countries is further deepened.

"We are trying to discuss a comprehensive economic partnership agreement scheme. This is an effort to deepen the trade cooperation agreement between the two countries," Lutfi said.

M Lutfi together with Indonesian BUMN Minister Erick Thohir and Foreign Minister Retno Marsudi paid a working visit to Fujian, China, for several days. A number of business agendas and cooperation with China were the targets of these Indonesian officials' working visits.

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