Intra-ASEAN Trade is Targeted to Increase within the Cooperation with Malaysia

Flash News | 11 September 2017 , 06:13 WIB | Read : 31 | By : Administrator

InfoSAWIT, MANILA –The members of ASEAN agreed to increase the intra-ASEAN trade twice in phases, starting from 2017 to 2025.

Secretary of Trade, EnggartiastoLukita emphasized it after making the Secretary of ASEAN Free Trade Area (AFTA) Counsil the 31st that it was the series of ASEAN Economic Ministers (AEM) council, the 49th in Pasay City, Filipina.

 

"It is ambitious target to double the intra-ASEAN trade in 2025.  But it could be realized if the members of ASEAN are solid and united to run the commitment of ASEAN Economic Society or Masyarakat Ekonomi ASEAN (MEA) 2025, and the profitable cooperation by knowing the condition in each country,” he said in the official statement that InfoSAWIT got.

 

He thought, Indonesia could reach the target to increase the intra – ASEAN trade knowing that the bilateral trade demands keep increasing. In addition, the value and analysis from the international institution saying that the economy of Indonesia is running well and could be the main goal of investment. “So Indonesia should not be the market of the foreign products to be in the domestic,” he emphasized.

 

The total ASEAN trade in 2016 reached US $ 2,22billion within 23,1 percent were intra-ASEAN trade. The total investment of ASEAN reached US $ 96,72billion within 24,8 percent were intra-ASEAN investment.

 

The main trade partners of ASEAN are the members of ASEAN itself covering 23 percent, then, China 16 percent, European Union 10 percent, USA and Japan 9 percent for each.

 

In the spare time of AEM, Secretary EnggartiastoLukita also did bilateral meeting with Secretary of Trade, Malaysia, Dato Sri Mustapa Mohamed. In the meeting, the two countries agreed to run palm oil exports by protecting it from the negative campaign that could be a loss for the two countries.

 

Indonesia also takes Malaysia to protest European Union about the palm oil negative campaign. The other issues that were discussed were to accelerate the trade in the border areas of the two countries. Indonesia ensured, the agreement is being discussed and would be renewed and develops the infrastructure. (T3)

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