Indonesia-Egypt Meeting Reaches IDR 12.88 Trillion Trade Contract

Trade Minister Zulkifli Hasan and Egyptian Trade Minister Ahmed Samir Saleh signed a Join Trade Committee (JTC) trading contract worth IDR 12.88 trillion in Cairo, Egypt, Monday (15/5/2023). BETWEEN/HO-Ministry of Trade/doc.Pri

JAKARTA - Minister of Trade (Mendag) Zulkifli Hasan and Egyptian Minister of Trade and Industry Ahmed Samir Saleh signed a Join Trade Committee (JTC) trading contract worth IDR 12.88 trillion in Cairo, Egypt.

This trade agreement includes Apical 300,000 MT RBDpalmoil worth 330 million US dollars and Wilmar 480,000 MT RBDpalm Ooil worth 528 million US dollars. Meanwhile, the trade returns include PT PPI in the form of dates, wines and kiosks worth 505,000 US dollars and an on thespot trading contract worth 580 US dollars.

"A total of 859,085,000 US dollars is IDR 12.88 trillion," said Zulkifli as quoted by ANTARA, Monday, May 15.

JTC Indonesia-Egypt is a bilateral forum between Indonesia and Egypt which aims to promote and enhance trade cooperation between the two countries.

In addition to the signing of the JTC MoU, the two ministers also held bilateral meetings to discuss several issues of increasing trade relations between the two countries, including the possibility of starting the discussion of the Indonesia-Egypt.Preferential Trade Agreement (Indonesia-Egypt PTA).

Zulkifli said JTC was formed based on the Joint Statement of the President of the Republic of Indonesia Joko Widodo and Egyptian President Abdel Fatah al-Sisi during the visit of the President of Egypt to Jakarta on September 4, 2015.

The JTC forum is chaired by officials at the director general's level, namely the Director General (Dirjen) of Indonesia's International Trade Negotiations Johni Martha and First Screentory of Egyptian Commercial Services Mesir Yahya Elwathik Bellah.

Zulkifli said that the form of trade cooperation in the JTC forum aims to promote and increase bilateral trade cooperation between the two countries, such as identifying and implementing steps to improve trade relations, solving problems or trade barriers, as well as as consulting media and exchanging trading information.

"This JTC forum is projected to be a medium that can accommodate the aspirations and inputs of the business community of the two countries," he also said.

During the meeting, Trade Minister Zulkifli Hasan was accompanied by the Indonesian Ambassador to Egypt Lutfi Rauf.

Meanwhile, Egyptian Trade and Industry Minister Ahmed Samir Saleh was accompanied by First Secretary of Energy Commercial Services Mesir Yahya Elwathik Bellah.