Deputy Minister of Trade Jerry: Chinese and Indonesian Industries Complement Each Other

Deputy Minister of Trade Jerry Sambuaga. (Photo: Doc. Antara)

JAKARTA - Deputy Minister of Trade (Wamendag) Jerry Sambuaga said that Indonesian and Chinese industries complement each other through product exports and investment.

Jerry said that Indonesian export products have supported industry in China, resulting in the production of many goods, which are then sold throughout the world. Many Chinese companies also invest in Indonesia.

"The Ministry of Trade noted that Indonesian and Chinese industries complement each other. Trade relations between Indonesia and China are also showing a positive trend," said Jerry at the 3rd Overseas Chinese Trade Fair, at JIEXPO, Jakarta, quoted from Antara, Wednesday, November 29.

The trend of Indonesian exports to China was positive at 29.57 percent over the last five years (2018-2022). Some of Indonesia's main export products to China in 2023 include iron alloys (USD 9.50 billion), lignite (USD 5.41 billion) and coal (USD 2.95 billion).

Furthermore, Indonesia's non-oil and gas exports in October 2023 reached 201.25 billion US dollars and its non-oil and gas imports reached 154.22 billion US dollars. Last year, Indonesia's non-oil and gas exports reached 275.96 billion US dollars and non-oil and gas imports reached 197.03 billion US dollars.

In the 2018-2022 period, the annual growth trend of Indonesia's non-oil and gas exports was 14.99 percent. Until October this year, Indonesia's main trading partners were China, the United States, India, Japan and the Philippines.

Indonesia's main non-oil and gas export products to the world are coal, vegetable oil, iron alloys, bituminous coal, lignite, copper ore, jewelry, nickel, palm oil and pulp.

During the visit of the President of the Republic of Indonesia Joko Widodo to China in October 2023, a parallel Indonesia-China business meeting was held which resulted in 11 business agreements worth 12.55 billion US dollars in priority sectors, namely energy, batteries, steel industry, data and technology and health.

Meanwhile, Chinese investment in Indonesia in 2022 will reach 8.2 billion US dollars or an increase of 156 percent compared to 2021.

Jerry said that there are several collaborations between Indonesia and China, namely Two Countries Twin Parks (TCTP), to encourage trade and investment between the two countries quickly, as well as bilateral cooperation in the fields of tourism, education, culture, youth, sports, increasing cultural exchanges, and between communities.