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Thursday, 06 June 2024 22:53

Indonesia Boosts Exports, Chasing Trade Deficit in Argentina

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VOInews, Jakarta: The Embassy of the Republic of Indonesia (KBRI) in Buenos Aires seeks to reduce the Indonesia-Argentina trade deficit through diversification of Indonesian exports to Argentina. This was conveyed by Sulaiman Syarif, Indonesian Ambassador to Argentina, Uruguay and Paraguay in an interview with the Ranah Diplomasi programme aired on Voice of Indonesia on Tuesday (11/6/2024). ‘We are currently trying to reduce the trade deficit by diversifying the entry of export opportunities from Indonesia into the Argentine market,’ Ambassador Sulaiman Syarif said.

 

It is known that the trade volume between Indonesia and Argentina reached USD 2.57 billion. The surplus on the Argentine side amounted to USD 1.6 billion. Indonesia is the second largest export destination from Argentina to Asia after China, while Argentina is the second largest importer of Indonesian products in South America after Brazil. (OEC 2022 data). This, according to Sulaiman Syarif, illustrates Argentina's position as a world food producer and Indonesia's domestic food needs. "Argentina is a country rich in natural resources and rich in agricultural products. People always say Argentina would provide the food to the world. Argentina is the largest producer of wheat and corn in the world. So indeed they export a lot, including to Indonesia. On the other hand, for Indonesia, it is a necessity that we need agricultural products related to food security,’ said the Indonesian diplomat who graduated from the University of North Sumatra.


Ambassador Sulaiman Syarif identified opportunities for a number of Indonesian commodities in the Argentine market. "We see the market for furniture products, it has great potential here, we have met in the last 6 months with our economic working team, working on approximately 10 importers who annually import 50 to 60 containers, we will continue to work on this, this is one of the opportunities," Ambassador Sulaiman explained.

 

In addition to furniture products, Indonesian products that are very potential in the Argentine market include palm oil, rubber products and fertilisers. "Palm oil is also one of the opportunities from sustainable palm oil, we are also working on this.
In addition, Indonesian exports to Argentina include rubber products, footwear, spare parts, and electronic devices, as well as fertilisers," Ambassador Sulaiman Syarif told Voice of Indonesia.

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