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Indonesian Trade Minister Enggartiasto Lukita ( right )
antara news
Indonesia and the Philippines are on the same page to establish a small team to intensify trade relations between the two neighboring nations.
"We will set up a small team. We will develop the team to increase trade between Indonesia and the Philippines," Indonesian Trade Minister Enggartiasto Lukita remarked on the sidelines of the 34th ASEAN Summit in Bangkok, Thailand, on Saturday.
The team, to constitute officials of both nations' trade ministries, will draft a list of each other's products for bilateral trade, Lukita remarked after holding a bilateral discussion with his Filipino counterpart, Ramon M. Lopez.
"We will also draft a list of issues. Moreover, we also (think of) what we can do together in future to cater to the global demand," Lukita noted.
The team will also be tasked with coming up with a solution to the barriers faced by the two countries, he added.
During the bilateral meeting, Lukita also drew attention to the additional import duties imposed on Indonesia's coffee candy exported to the Philippines.
"The import duties are also imposed on the export of Indonesian ceramic products (to the Philippines). This is actually based on the fact that Indonesia has until now enjoyed a trade surplus with the Philippines," he stated.
To boost bilateral trade, Indonesia had agreed to purchase more products from the Philippines till the time demand from the domestic market exists, he noted.
He remarked that Indonesia's Mayora Group had, so far, imported coconut products from the Philippines. The company is also urged to invest in the Philippines.
"We will not suffer losses if the Indonesian company expands its business there, as we will provide its raw materials," he stated.
Trade between Indonesia and the Philippines recorded a growth of 16.71 percent during the 2014-2018 period.
Solely in the first quarter of 2019, bilateral trade had reached US$1.8 billion, an increase of 3.32 percent, from $1.7 billion in the corresponding time frame a year earlier. (ant)
