Indonesia, China look to triple bilateral trade in next three years

Indonesia and China are planning to triple bilateral trade from 31 billion USD to 100 billion USD in the next three years, Indonesian Trade Minister M Lutfi has said.

Saturday, April 03, 2021 15:55

Indonesia, China look to triple bilateral trade in next three years ảnh 1

Indonesian Trade Minister M Lutfi (Photo: antaranews)

Jakarta (VNA) – Indonesia and China are planning to triple bilateraltrade from 31 billion USD to 100 billion USD in the next three years,Indonesian Trade Minister M Lutfi has said.

Addressing an online press conference on April 2 with Indonesia’sForeign Minister Retno Marsudi and Minister of State-Owned Enterprises ErickThohir during his working visit to China, Lutfi said that, to that end, the two countrieswill explore the Bilateral Economic and Trade Cooperation (BETC), signed in2011, to turn it into a Trade and Investment Framework Agreement (TIFA).

He said that during his visit, the two sides discussed measures deepen trade activities of the two countries with the Comprehensive EconomicPartnership Agreement and also discussed low-hanging fruit in order to improvethe trade balance between the two countries.

During this visit, at least five Chinese companies signeddeals to import swallow's nests from Indonesia for more than 1.13 billion USD,and also add exports and investments for furniture products from Shandong Woodand Furniture, with an amount of more than 200 million USD.

Further, 150 Chinese companies will bring in investment of 1.38billion USD into West Kalimantan and employ more than 3,000 workers,he added.

China is currently Indonesia’s largest trade partner withtwo-way trade hitting 71.4 billion USD last year./.

VNA

#Indonesia #China #bilateral trade #100 billion USD #next three years #Trade Minister M Lutfi #Vietnam #Vietnamplus #Vietnam News Agency China Indonesia

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