Tag Archives: development

Indonesia eyes IEU-CEPA to boost marine product exports

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The Ministry of Marine Affairs and Fisheries (KKP) said the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA) must be used effectively to increase exports of Indonesian fishery and marine products to Europe.

Indonesia eyes IEU-CEPA to boost marine product exports

“We have an opportunity ahead with the IEU-CEPA, particularly the zero-tariff arrangement. We intend to make the best use of it,” Acting Director General for Strengthening the Competitiveness of Marine and Fishery Products Machmud said at a press conference here on Thursday.

For seaweed derivative products, such as agar-agar and handicrafts, he said Indonesia secured trade contracts worth USD 13.65 million for the European market, surpassing the target of USD 8 million.

Exports of other fishery commodities, including shrimp and tuna, had already increased before the IEU-CEPA, reflecting Europe’s strong demand for Indonesian marine products.

Machmud expressed hope that exports to Europe will grow further once the agreement’s zero-tariff provisions take effect.

“This will enable us to make the best possible use of opportunities in the European market,” he said.

The ministry also plans to intensify promotional efforts by inviting potential European buyers to visit Indonesian fish processing units directly.

“Insya Allah (God willing), the plan is for 2026 around May or June, after the expo in Barcelona in April 2026. We will invite them to Indonesia for promotional activities,” Machmud said.

Trade Minister Budi Santoso has set a target for the signing of the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA) in January 2026.

Santoso added that the agreement is currently undergoing legal drafting and translation into multiple languages.

I-GCC FTA first round negotiations run well: Trade Ministry

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Jakarta (ANTARA) – The Indonesian Ministry of Trade stated that the first round of the Indonesia–Gulf Cooperation Council Free Trade Agreement (I–GCC FTA) negotiations held in Jakarta on September 9–13, 2024, ran well. During the meeting held at the ministry’s office, the Indonesian delegation was led by the ministry’s Director for Bilateral Negotiations, Johni Martha, while the GCC delegation was led by the General Coordinator for Free Trade Agreements Negotiations of GCC, Raja Munahi Al-Marzoqi. Martha noted in a statement from his ministry here on Friday that the GCC is a strategic trade partner for Indonesia. The government is keen … Continue reading →

China Nudged to Open Its Doors to Indonesian Durian

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Jakarta. The government is hoping that China will soon give its green light for Indonesian durians to enter the Chinese market. China is a big buyer of the fruit known for its distinctive odor, and Jakarta sees this as a huge business opportunity. Over the past few years, the Indonesian government has been trying to convince China that its durian is eligible for export. Today, Indonesia is waiting for China to issue a protocol that will let Jakarta export the so-called “king of fruits”. Foreign Affairs Minister Retno Marsudi also tried to secure the durian export protocol from her Chinese counterpart … Continue reading →

Indonesia’s Exports Reach US$20.84 Billion in June 2024

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The Central Statistics Agency (BPS) noted that Indonesia’s export value in June 2024 reached US$20.84 billion or decreased by 6.65 percent compared to exports in May 2024. However, when compared to June 2023, the export value increased by 1.17 percent. As stated by Acting Head of BPS Amalia Adininggar Widyasanti, non-oil and gas exports in June 2024 reached US$19.61 billion, down 6.20 percent compared to May 2024. However, it increased 1.40 percent compared to non-oil and gas exports in June 2023. Of the ten commodities with the largest non-oil and gas export values ​​in June 2024, most commodities experienced a … Continue reading →

Indonesia Charts Solid Economic Performance

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After being hit by the COVID-19 pandemic, the world found a bright spot, with economic growth projected at 2.6 percent in 2024 despite looming global geopolitical tensions and global interest rates remaining high for long. This growth is primarily due to the continued solid expansion of the US economy. In 2025–2026, the global economy is expected to expand by an average of 2.7 percent, in line with strengthening trade growth and a broad but measured easing of monetary policy to support economic activity. However, the growth rate is far below the average of 3.1 percent in the decade before COVID-19. … Continue reading →

Indonesia Posts $4.7 Billion State Budget Surplus As of April

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Indonesia has recorded a state budget surplus of Rp 75.7 trillion ($4.7 billion) or about 0.33 percent of Indonesia’s gross domestic product as of April 30. Finance Minister Sri Mulyani also reported that the country’s primary balance saw a Rp 237.1 trillion surplus. “Our state budget and primary balance are still in a surplus. Our state budget is mainly influenced by today’s global conditions,” Sri Mulyani told a press briefing in Jakarta on Monday. Indonesia posted Rp 924.9 trillion in state revenue, about 33 percent of the targeted Rp 2,802.3 trillion. However, the overall state revenue saw a 7.6 percent … Continue reading →

Yadea Builds Electric Motor Factory in Karawang Rp. 2.4 Trillion, Largest in ASEAN

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The best electric motorbike manufacturer from China, PT Yadea Teknologi Indonesia, is building its eighth production facility in the Surya Cipta area, Ciampel District, Karawang, West Java. The Yadea Manufacturing Plant project will require an investment of 150 million US dollars or the equivalent of IDR 2.4 trillion from this year to 2028. Yadea claims that the factory in Karawang will be their largest factory in Southeast Asia with a production capacity of 3 million units per year and standing on an area of ​​27 hectares. The facility is scheduled to operate in 2026. “Demand for high-quality electric two-wheeled vehicles … Continue reading →

CPO, Coal, and Durian Constitute Largest Exports to China: Kadin

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The Indonesian Chamber of Commerce and Industry (Kadin) stated that crude palm oil (CPO), coal, and durian are the top commodities exported to China. “They are the largest commodities exported to China. First is still CPO and the second is minerals, which is the coal,” Kadin’s Deputy Chairman for Trade Juan Permata Adoe remarked here on Friday. Adoe noted that in terms of the export of Indonesia’s food and horticultural commodities, durian fruit is the most popular. He revealed that China has plans to invest in Indonesia’s downstream industry. “In addition, China is willing to invest in rice farming with … Continue reading →

Indonesia’s Trade Balance Records $4.47 Billion Surplus in March 2024

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Indonesia’s trade balance recorded a surplus of $4.47 billion in March 2024, up from $3.64 billion in February 2024. This marked a significant increase from March 2023, which stood at $1.65 billion. This marks the 47th consecutive month of surplus. In March 2024, exports reached $22.43 billion, marking a 16.4 percent increase from February 2024. However, this indicated a 4.19 percent contraction compared to March 2023. Meanwhile, imports in March 2024 totaled $17.96 billion, reflecting a 2.6 percent decrease from February 2024 and a 12.76 percent decrease from February 2023. “The Indonesian trade balance has recorded a surplus for 47 … Continue reading →

Indonesian Coffee Dominates the Egyptian Market, Exports Reach IDR 1.46 Trillion

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Indonesian coffee products have succeeded in dominating the Egyptian and North African markets. In 2023, Indonesia will become the largest coffee exporter to Egypt from all over the world with an export value of 92.96 million or the equivalent of IDR 1.46 trillion. This amount controls 42.69 percent of the coffee market share in Egypt. “This indicates that Indonesian coffee products are loved by consumers in Egypt. “The distinctive aroma and taste are the main factors in attracting the interest of Egyptian consumers,” said the Indonesian Ambassador to Egypt Lutfi Rauf in a written statement in Damanhour, Beheira, Egypt, Tuesday … Continue reading →