VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

Indonesia and Argentina agreed to form a joint working group trade and investment sector (Working Group on Trade and Investment / WGTI). This matter
marked by the signing of a joint statement about the formation of a working group trade and investment in Jakarta today, Tuesday (26/6). This joint statement
signed by the Secretary General of the Ministry of Trade Karyanto Suprih and Ambassador of Argentina to Indonesia Ricardo Luis Bocalandro on the sidelines of the President's  Argentina Mauricio Macri visit to Indonesia.

"Argentina is the second largest trading partner for Indonesia in the South American region. However, trade relations have not shown their true potential. Then it is important for both countries to take concrete steps as an effort to improve relations trade in Indonesia and Argentina, "said Karyanto. According to Karyanto, this joint statement is a legal umbrella for the formation of the WGTI between Indonesia and Argentina. "Both Governments believe that WGTI is the beginning both for Indonesia and Argentina to establish a routine means of communication between the two countries as an effort to increase and reduce trade barriers, especially non barriers rates, "he said.

Director of Bilateral Negotiations Ni Made Ayu Marthini added, the formation of WGTI Indonesia-Argentian aims to improve relations in developing and
strengthen bilateral cooperation. Strengthening this cooperation includes the exchange of information trade and investment policies of both countries, increased trade and investment, as well as support for businesses through providing information on the business environment in the both country.  

"In its implementation, the WGTI consists of representatives of the government, business people, and institutions research to bridge trade barriers that exist between the two countries. Furthermore, the first meeting of the Indonesia-Argentina WGTI is planned to be held on "in the second trimester of 2020," Made said.

In 2018, the total trade in Argentina and Indonesia reached USD 1.68 billion. Export Indonesia to Argentina in that year was recorded at USD 238.34 million with products mainstay of exports include natural rubber, combustion piston engines, parts and accessories motorized vehicles, as well as footwear. While in the same period Indonesian imports were from Argentina was recorded at USD 1.44 billion with imported products including cake (pulp) soybeans), wheat, corn, cotton, and steel pipes. 

In 2018 Argentine investment in Indonesia was recorded at USD 137.5 thousand consisting of four projects. This value rose 12.5 percent from the previous year which was recorded at USD 122.5 thousand and consists of eight projects. Agentina's investment in Indonesia is one of them located at West Nusa Tenggara Province in the field of providing accommodation, sports activities, and recreation. (kemendag)