Indonesia Economy Forum

[Bungaterakhir]

Kabar Baik, China Akan Hapus Tarif Kuota Impor CPO
https://insight.kontan.co.id/news/k...QYzPRRHNpMPu04fE912IMjBtxbRgBtffpO56jjKJAb5Lg

 

[Bungaterakhir]

Apple launches second academy in Surabaya
source : Link

American tech behemoth Apple inaugurated on Wednesday in Surabaya its second developer academy, making East Java the second province after Banten to host such an academy.

The Apple Academy Surabaya, which is located within Ciputra University, is hosting its first batch of 100 students, who will undergo a nine-month course on business development and coding with Swift – a coding language built by the tech giant. Enrollment for the next batch, which will start classes in February next year, is already open, says the company in a statement.

Apple’s Surabaya academy is a continuation of the tech giant's US$44 million investment to build Indonesian human resources in exchange for skirting Communication and Information Ministerial Regulation No. 27/2015 on technical requirements for long-term evolution (LTE) technology, which would have required Apple products to contain 30 percent local content before being sold in the country.

The tech giant inaugurated its first Indonesian academy at BSD City in March in collaboration with Binus University. (hen)

 

[Nike]

**** for everyone who said Java and its population is greedy and sucking off other region Natural resources, it is Java who supported and giving subsidy for other region economy, finance, human resources and even Natural resources

https://www.cnbcindonesia.com/news/...-baru-blok-cepu-jadi-ladang-raksasa-minyak-ri

 

[Nike]

Indonesia remains upbeat despite revising tourist arrival target
11th Aug 2019 09:57

Documentation - Foreign tourists visited Borobudur Temple in Magelang, Central Java (ANTARA FOTO/Irsan Mulyadi)

With his ministry working hard to promote Indonesia globally, particularly in China, India, the Middle East and Europe, nearly 18 million tourists will arrive this year, an optimistic Indonesian Tourism Minister Arief Yahya believes.

Tourism Minister Arief Yahya launched a Calendar of 100 Wonderful Indonesian Tourism Events in late 2018 to promote the country's tourism attractions and attract foreign tourists.

The Calendar of 100 Wonderful Indonesia Tourism Events is the initiative of President Joko Widodo to inform the world that the country has various events of international standards.

Besides, the Tourism Ministry has intensified the role of the Tourist Information Center (TIC) and coordinated with various regional administrations to step up tourism promotion activities.

The target of 18 million foreign tourists has been revised from the previous target of 20 million foreign visitors this year.

Several unpredictable circumstances such as natural disasters have affected the arrivals of foreign tourists in the first semester this year, forcing a revision in the target, the Tourism Ministry explained in late July.

"According to data from the BPS (Central Bureau of Statistics), the number of foreign tourist arrivals last year was 15.8 million. It would require a huge increase from 15.8 (million) to 20 (million). Therefore, this year's target has been revised to some 18 million," Esthy Reko Astuti, expert staff of the Tourism Ministry in charge of the Management of the Calendar of Events, said July 29, 2019.

Between January and May 2019, Indonesia welcomed 6.37 million foreign tourists, a 2.7 percent rise as compared to the corresponding period of the previous year. In May 2019, the number of foreign tourists had reached 1.256 million.

In addition to intensifying tourism promotion, the Indonesian Government has developed various facilities and infrastructure to boost the tourism industry, as well as renovated and upgraded several tourist destinations to make them world-class.

The Government has designated 10 tourist destinations as priority ones and dubbed the 10 as “New Balis”. The 10 priority tourist destinations are Borobudur in Central Java; Labuan Bajo-Komodo Island in West Manggarai District, East Nusa Tenggara; Mandalika on Lombok Island, West Nusa Tenggara; Bromo-Tengger-Semeru in East Java; Pulau Seribu in North Jakarta; Lake Toba in North Sumatra; Wakatobi in Southeast Sulawesi; Tanjung Lesung in Banten; Morotai in the northern region of Halmahera in the Maluku Islands; and Tanjung Kelayang in Belitung, Bangka Belitung.

Of these ten, the government is focusing on four, namely Lake Toba, Mandalika, Borobudur, and Labuan Bajo-Komodo Island, and has speeded up their development by 2020, according to Arief Yahya.

"There are four super-priority locations namely Lake Toba, Mandalika, Labuan Bajo and Borobudur. By 2020 all infrastructure and basic utilities must be completed for attraction, access, and amenity," Yahya said after a closed-door meeting on the development of priority tourist destinations led by President Joko Widodo recently.

The meeting was also attended by Vice President Jusuf Kalla, cabinet ministers, East Nusa Tenggara Governor Viktor Laiskodat, West Nusa Tenggara Governor Zulkieflimansyah, North Sulawesi Governor Olly Dondokambey, North Sumatra Governor Edy Rahmayadi and Central Java Governor Ganjar Pranowo.

"Lake Toba for instance, has been named by the UNESCO as Global Geo-Park. Access to Silangit airport would be improved. There is a toll road from Kualanamu (airport) to Lake Toba, and there is an investment of Rp6 trillion in 2020," the minister remarked.

Following the meeting, Kalla led a coordination meeting to discuss ways to develop the four tourist destinations.

The meeting agreed on the creation of a tourism coordinating board to follow up on President Widodo's instruction.

"Mr. President has declared four super-priority destinations, with Lake Toba being number one, followed by Borobudur Temple, Mandalika, and Labuan Bajo-Komodo Island. So, this is the tourism coordinating board with Mr. Vice President as its chief. At the meeting, Mr. Vice President also wanted to hold a monthly meeting." Minister Arief Yahya noted.

Tourism is one of the main sources of foreign exchange. In 2018, Indonesia's foreign exchange earnings from the tourism sector reached US$17 billion, up from $15 billion a year earlier, Yahya remarked.

"The foreign exchange earnings from the tourism sector in 2018 are projected to reach $18 billion as compared to $15 in 2017," he added.

Earlier, when the Indonesian government had set the tourist target at 20 million, it had hoped to earn $20 billion in foreign exchange.

Related news: Tourism Ministry revises foreign tourist arrival target to 18 million
Related news: Indonesia witnesses 5.9 percent rise in March tourist arrivals

By Fardah

Editor: Suharto

COPYRIGHT © ANTARA 2019


https://m.antaranews.com/en/news/13...pbeat-despite-revising-tourist-arrival-target

 

[Kucing itu imut]

**** for everyone who said Java and its population is greedy and sucking off other region Natural resources, it is Java who supported and giving subsidy for other region economy, finance, human resources and even Natural resources

https://www.cnbcindonesia.com/news/...-baru-blok-cepu-jadi-ladang-raksasa-minyak-ri

View attachment 573490

Rather than greedy, it's more like Jawasentris.

 

[Nike]

Trump Jr. in Indonesia to kick off sale of luxury condos

• Karlis Salna
  Bloomberg
  

Jakarta / Tue, August 13, 2019 / 06:45 pm

Donald Trump Jr., (left) shares a light moment with chairman of the media giant MNC Group Harry Tanoesoedibjo during an event on Aug. 13, 2019, to promote two Trump-branded resorts in Jakarta. (The Jakarta Post/JP)
PT MNC Land, an Indonesian builder, began a sale of luxury condos and mansions in two projects being developed in Indonesia in partnership with the Trump Organization, marking the US developer’s foray into Southeast Asia’s largest economy.

Donald Trump Jr., who attended a pre-launch event in Jakarta on Tuesday for condos and villas that will be built in West Java and Bali, said Indonesia was “an under-served market” and the projects are “a dream becoming a reality” for the Trump Organization. The projects will be completed in stages within three years, according to MNC Land.

The US president’s eldest son said Asia is “a natural market” for the Trump Organization and that Indonesia is “a big component of that” but no new deal will be done until after Donald Trump leaves office.

Indonesian business tycoon Hary Tanoesoedibjo’s MNC Land is investing $1.7 billion to develop the two sites, including a Trump-branded six-star luxury hotel in Bali and a resort and condos in Lido in West Java. The partnerships signed in 2015 entitles Trump Organization to receive royalty from the Indonesian developer for the use of the Trump brand. The organization will also get a fee to manage the hotels and golf courses and commission from sales of the Trump-branded villas and condos.

The West Java project, in an area known as Lido Lakes and about two hours drive from Jakarta, will eventually be spread over 3,000 hectares sandwiched between two volcanoes. The initial phase includes a Trump-branded resort, as well as villas and condos, and a golf course. Tanoesoedibjo’s plans for the project include a concert venue that can accommodate 100,000 people, a production facility for film and television studios and a theme park that he has said would be twice as big as Universal Studios in Singapore.

Bali Resort

The Trump International Hotel and Tower Bali will be the largest resort on the popular tourist island and will be managed by the US developer, according to MNC Land. Tanoesoedibjo is the founder of media and real estate conglomerate MNC Group and also runs his own political party. The businessman was on the guest list for Trump’s inauguration, and has often touted his friendship with Trump’s children.

The Trump Organization will not pursue new deals globally to avoid “impropriety,” Trump Jr. told reporters. The developer will focus on completing projects signed before Donald Trump won the presidential election and doesn’t see any impact of the ongoing trade war on the group’s business, he said.

“After politics we’ll look to come back into the market,” Trump Jr. said, adding new ventures could be in Indonesia or India where he had spent years building relationships with developers. “We voluntarily chose to put that aside so as not to create the impression of any kind of impropriety.”

Trump broke with the practice of previous presidents who either divested assets that could cause conflicts of interest or put those assets in blind trusts. Instead, Trump transferred his assets to a revocable trust administered by his elder son, Trump Jr., and Allen Weisselberg, the chief financial officer of the Trump Organization.

Tanoesoedibjo said he had been in talks with potential Chinese backers for financing the theme park that will be built near to the Trump-branded properties in Lido, but no deal had been done. “There is no financing from China,” he said.

Trump Jr. said the theme park had nothing to do with the Trump Organization. “My father is not at all involved, and he wouldn’t make decisions that affect the country based on a real estate deal,” he said.

https://www.thejakartapost.com/news...esia-to-kicks-off-sale-of-luxury-condos-.html

 

[Nike]

Lion, Garuda synergize to develop aviation industry
14th Aug 2019 18:49

Coordinating Minister for Economic Affairs Darmin Nasution (right), Transportation Minister Budi Karya Sumadi (second right), accompanied by Lion Air Group founder Rusdy Kirana (third right) inspected Batam Aero Teknik (BAT) Hangar owned by Lion Air Group at Hang Nadim Airport in Batam, Riau Islands, Wednesday (August 14, 2019). ANTARA FOTO/M N Kanwa/wsj.

Batam, Riau Islands (ANTARA) - Lion Group is cooperating with Garuda Indonesia in revamping the national aviation industry, including developing a joint hangar, preparing human resources and establishing an aircraft tire manufacturing plant. "The two airlines are uniting to make Indonesia more progressive," Lion Air founder Rusdy Kirana said in Batam, Riau Islads Province, Wednesday.

One of the main points of the cooperation is developing a joint hangar for aircraft maintenance and repair, he said.

Maintenance is the second largest cost elements after fuel for any airline company, he noted. "Therefore, we have tried to get the maintenance and repair done in the country," he added.

Lion Air realized that it could not work alone to develop aircraft maintenance service and that it had to cooperate with Garuda Indonesia.

The development of domestic aircraft maintenance and repair services saves foreign exchange, opens job opportunities and allows the transfer of technology, he said.

"We hope we can reduce the use of foreign exchange. (The presence of) MRO (maintenance, repair and overhaul) facility will increase our foreign exchange coffers because it will serve foreign aircraft," he said.

The national flag carrier will send its 100 skilled workers to strengthen the hangar in Batam, Garuda Indonesia Group President Director I Gusti Ngurah Askhara Danadiputra said.

"It will create three thousand jobs most of whom will come from Batam and Riau Islands," he said.

Both Lion Air Group and Garuda Group also agreed to build an aircraft tire manufacturing plant in cooperation with Michelin to meet domestic needs.



Editor: Rahmad Nasution

COPYRIGHT © ANTARA 2019


Kartel in the making

 

[Nike]

EU imposes duties of up to 18 percent on Indonesian biodiese

• 
  Reuters
  

Brussels / Wed, August 14, 2019 / 06:58 pm

Workers harvest oil palm fruit at PT Kimia Tirta Utama’s oil palm plantation in Siak regency, Riau, in this illustration photo. (Antara/FB Anggoro)
The European Commission on Tuesday imposed countervailing duties of 8 percent to 18 percent on imports of subsidized biodiesel from Indonesia, saying the move aimed to restore a level playing field for European Union producers.

“The new import duties are imposed on a provisional basis and the investigation will continue with a possibility to impose definitive measures by mid-December 2019,” the EU executive said in a statement.

Last week Indonesia’s trade minister said he would recommend to an inter-ministerial team a 20 percent-25 percent tariff on EU dairy products in response to the EU targeting the country’s biodiesel, adding that he had asked dairy product importers to find sources of supply outside the 28-nation bloc.

The EU duties are another blow to Indonesian biodiesel producers after the bloc said in March that palm oil should be phased out of renewable transportation fuels due to palm plantations’ contribution to deforestation.

The European Commission, which coordinates trade policy for the EU, launched an anti-subsidy investigation in December following a complaint by the European Biodiesel Board.

It said its investigation showed that Indonesian biodiesel producers benefit from grants, tax benefits and access to raw materials below market prices.

The EU biodiesel market is worth an estimated 9 billion euros a year, with imports from Indonesia worth about 400 million euros, it said.

Indonesia Biofuels Producers Association (APROBI) Chairman M.P. Tumanggor told Reuters that companies impacted by the anti-subsidy duties will likely be forced to renegotiate their contracts with buyers in the EU and it may reduce 2019’s biodiesel exports.

“We initially targeted 1.4 million tons exports this year to Europe, that will not be reached,” Tumanggor said, adding that exports may only reach around 1 million tons.

He said the group is in consultation with the government to response to the duties decision by the EU.

Indonesian officials did not respond to requests for comment from Reuters on the countervailing duties decision.


https://www.thejakartapost.com/news...-up-to-18-percent-on-indonesian-biodiese.html

I think the American is more frank and honest with what they want, they want a level playing field such reducing the trade imbalance and put more import order from American based companies and impose more tax and tariff if you cant comply with what they want. But on other hand EU is playing dirty and cheap, and at the same time trying to look more clean and accountable using roundabout manner to put pressure on their competitor and such like human rights issue, deforestation and so on. And using NGO's under their payroll to put the targeted countries under pressure
. No wonder even their old allies such as US trying to put pressure and more taxes for their products and services. Look like if i on the government shoes i would put US as more priority compared to the European,

 

[barjo]

Trump Jr. in Indonesia to kick off sale of luxury condos

• Karlis Salna
  Bloomberg

Jakarta / Tue, August 13, 2019 / 06:45 pm

Donald Trump Jr., (left) shares a light moment with chairman of the media giant MNC Group Harry Tanoesoedibjo during an event on Aug. 13, 2019, to promote two Trump-branded resorts in Jakarta. (The Jakarta Post/JP)
PT MNC Land, an Indonesian builder, began a sale of luxury condos and mansions in two projects being developed in Indonesia in partnership with the Trump Organization, marking the US developer’s foray into Southeast Asia’s largest economy.

Donald Trump Jr., who attended a pre-launch event in Jakarta on Tuesday for condos and villas that will be built in West Java and Bali, said Indonesia was “an under-served market” and the projects are “a dream becoming a reality” for the Trump Organization. The projects will be completed in stages within three years, according to MNC Land.

The US president’s eldest son said Asia is “a natural market” for the Trump Organization and that Indonesia is “a big component of that” but no new deal will be done until after Donald Trump leaves office.

Indonesian business tycoon Hary Tanoesoedibjo’s MNC Land is investing $1.7 billion to develop the two sites, including a Trump-branded six-star luxury hotel in Bali and a resort and condos in Lido in West Java. The partnerships signed in 2015 entitles Trump Organization to receive royalty from the Indonesian developer for the use of the Trump brand. The organization will also get a fee to manage the hotels and golf courses and commission from sales of the Trump-branded villas and condos.

The West Java project, in an area known as Lido Lakes and about two hours drive from Jakarta, will eventually be spread over 3,000 hectares sandwiched between two volcanoes. The initial phase includes a Trump-branded resort, as well as villas and condos, and a golf course. Tanoesoedibjo’s plans for the project include a concert venue that can accommodate 100,000 people, a production facility for film and television studios and a theme park that he has said would be twice as big as Universal Studios in Singapore.

Bali Resort

The Trump International Hotel and Tower Bali will be the largest resort on the popular tourist island and will be managed by the US developer, according to MNC Land. Tanoesoedibjo is the founder of media and real estate conglomerate MNC Group and also runs his own political party. The businessman was on the guest list for Trump’s inauguration, and has often touted his friendship with Trump’s children.

The Trump Organization will not pursue new deals globally to avoid “impropriety,” Trump Jr. told reporters. The developer will focus on completing projects signed before Donald Trump won the presidential election and doesn’t see any impact of the ongoing trade war on the group’s business, he said.

“After politics we’ll look to come back into the market,” Trump Jr. said, adding new ventures could be in Indonesia or India where he had spent years building relationships with developers. “We voluntarily chose to put that aside so as not to create the impression of any kind of impropriety.”

Trump broke with the practice of previous presidents who either divested assets that could cause conflicts of interest or put those assets in blind trusts. Instead, Trump transferred his assets to a revocable trust administered by his elder son, Trump Jr., and Allen Weisselberg, the chief financial officer of the Trump Organization.

Tanoesoedibjo said he had been in talks with potential Chinese backers for financing the theme park that will be built near to the Trump-branded properties in Lido, but no deal had been done. “There is no financing from China,” he said.

Trump Jr. said the theme park had nothing to do with the Trump Organization. “My father is not at all involved, and he wouldn’t make decisions that affect the country based on a real estate deal,” he said.

https://www.thejakartapost.com/news...esia-to-kicks-off-sale-of-luxury-condos-.html

Damn!!! after puncak 2, 3 project now this...

 

[Nike]

Revenues in 2020 state budget draft reach Rp2,221.5 trillion
16th Aug 2019 21:55

President Joko Widodo (left) signed the handover document of the financial memorandum of Draft of State Budget (RAPBN) 2020 to the Speaker of the House Bambang Soesatyo during the Plenary Session of the House of Representatives (DPR) in Nusantara Building, Parliament Complex, Senayan, Jakarta, Thursday (August 16, 2019). (ANTARA FOTO/Hafidz Mubarak A/GTM)

Jakarta (ANTARA) - President Joko Widodo affirmed that state revenues in the 2020 State Budget Draft worth Rp2,221.5 trillion will be fulfilled in the form of optimizing tax revenue and reforming its Non-Tax State Revenues (PNBP) system.

"In the area of taxation, the government continues taxation reforms through improving administration and tax compliance and strengthening taxation database as well as information systems," President Widodo noted in his speech for the 2020 State Budget Draft at the House of Representatives’ plenary meeting at the legislative complex in Jakarta, Friday.

In order to boost competitiveness and investment, the government provides tax incentives through several instruments, specifically the expansion of tax holidays, changes in tax allowance, investment allowance, incentives for the development of vocational activities, research, and labor-intensive industries.

Related news: Indonesia to emerge as one of world's economic powers: president

Related news: Indonesia needs innovations to move forward: Jokowi

The president remarked that the labor-intensive industry will also receive exemption from import tax and tax subsidies.

"The government will also conduct a policy on level equalization for conventional and e-commerce businesses to optimize tax revenue in the digital age," the president stated.

In the meantime, the PNBP system will be reformed through boosting regulations and enhancing governance while maintaining the quality of public services.

State revenues and grants had amounted to Rp2,221.5 trillion in 2020, while state expenditure reached Rp2,528.8 trillion.


Related news: Jokowi wears traditional Sasak clothes at DPR, DPD 2019 annual session

Related news: House, government endorse 15 bills in 2018-2019
Editor: Gusti Nur Cahya Aryani

COPYRIGHT © ANTARA 2019

 

[barjo]

https://m.cnnindonesia.com/ekonomi/...41/standar-qr-code-bi-resmi-berlaku-sabtu-ini

Standar QR Code BI Resmi Berlaku Sabtu Ini
CNN Indonesia
Sabtu, 17/08/2019 13:29
Bagikan :

Ilustrasi. (Istockphoto/nattrass)
Jakarta, CNN Indonesia -- Bank Indonesia (BI) resmi memberlakukan standar pembayaran menggunakan kode unik dari bank sentral nasional bertajuk QR Code Indonesia Standard (QRIS) mulai Sabtu (17/8) ini. Standar QR ini memungkinkan pembayaran transaksi keuangan di domestik, regional, hingga internasional dilakukan melalui dompet digital dan uang elektronik.

Gubernur BI Perry Warjiyo mengatakan kehadiran QRIS membuat masyarakat akan lebih mudah melakukan transaksi pembayaran secara digital. Melalui standar ini, masyarakat dan toko (merchant) nantinya hanya perlu satu kode unik untuk melakukan pembayaran dengan berbagai aplikasi dompet digital.

Ini berbeda dengan sebelumnya karena masyarakat hanya bisa menggunakan kode unik tertentu yang disediakan di merchant dan sesuai aplikasi dompet digital yang digunakan.



"Dengan ini QRIS diberlakukan secara nasional untuk memperlancar sistem pembayaran yang aman, lancar, dan efisien. Ini adalah QR satu-satunya yang berlaku di Indonesia," ujar Perry dalam peluncuran QRIS yang dilangsungkan di Kompleks Gedung BI, Jakarta.

Lihat juga:
Pengguna Aplikasi Dompet Digital di Indonesia Naik Perry menjelaskan QRIS dirancang dengan manfaat UNGGUL, yakni UNiversal, GampanG, Untung, dan Langsung. Dari sisi universal, QRIS bisa digunakan untuk semua transaksi keuangan oleh semua kalangan.

Dari sisi GampanG, ia memastikan kode unik ini bisa digunakan secara mudah untuk berbagai transaksi pembayaran digital yang berhubung dalam sistem Gerbang Pembayaran Nasional (GPN).

"Semua orang bisa pakai, masyarakat sampai tukang bakso, dan lainnya selama ada saldonya. Ini bisa membedakan untuk transaksi domestik dan internasional," katanya.

Berkaitan dengan Untung. Ia mengatakan penggunaan transaksi pembayaran melalui sistem ini akan memberi keuntungan kepada masyarakat, merchant, dan lembaga penyedia layanan dompet digital.Pasalnya melalui transaksi ini, biaya administrasi (Merchant Discount Rate/MDR) sebesar 0,7 persen.


"Tapi ada kekhususan, misalnya untuk transaksi pendidikan 0,6 persen, SPBU 0,4 persen, bantuan sosial atau bansos gratis tanpa MDR," terangnya.

Sementara itu berkaitan dengan Langsung, di mana transaksi pembayaran akan berlangsung secara real time. "Begitu tapping, itu langsung transaksi terjadi, langsung saldo terpotong dan masuk rekening pedagang," tuturnya.

Lebih lanjut ia mengatakan pelaksanaan QRIS melibatkan 21 anggota lembaga keuangan bank dan non bank yang menjadi tim penggodok standar. Lalu, BI juga sudah memberikan izin pelaksanaan kepada 20 lembaga keuangan.

Pada tahap awal, BI akan memperkenalkanQRIS untuk merchant presented model (MPM) yang akan mulai diimplementasikan pada semester II 2019.

Lihat juga:
BCA Catat Transaksi e-Commerce Didominasi Kartu Kredit

(uli/agt)

Indonesia Central Bank (BI) isued QR code payment regulation and permission

 

[barjo]

• 
  
  
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 

• 
  
  
  • Semua
  • Artikel
  • Foto
  • Video

Bertepatan dengan HUT ke-74 RI, Bank Indonesia meluncurkan standar Quick Response (QR) Code untuk pembayaran melalui aplikasi uang elektronik server based, dompet elektronik, atau mobile banking yang disebut QR Code Indonesian Standard (QRIS).
Tampilkan foto dan video
5

18 jam lalu
FOTO: Bertepatan dengan HUT RI, BI Luncurkan QR Code Indonesia


Another news from QR release
https://m.liputan6.com/tag/bank-indonesia

 

[Indos]

 

[Nike]

Indonesia-US bilateral trade value targeted at US$50 billion
20th Aug 2019 18:53

Kasan, head of the Trade Development and Study Department of the Trade Ministry. (ANTARA/Aji Cakti/FA)

Jakarta (ANTARA) - The Indonesian Trade Ministry has outlined a target for the value of bilateral trade between Indonesia and the United States to reach US$50 billion in the coming several years.

"Last year, the value of bilateral trade between Indonesia and the United States had reached US$29 billion. We have agreed to increase the bilateral trade target to US$50 billion," Kasan, head of the Trade Development and Study Department of the Trade Ministry, noted here on Tuesday.

The Trade Ministry has applied export strategies by establishing a trade agreement with major trade partner countries and new potential nations.

Indonesia has also targeted to realize bilateral trade worth US$50 billion with India by 2025 and US$30 billion with South Korea by 2022.

The Trade Ministry stepping up trade targets is expected to help intensify bilateral trade with its key trade partners.

President Joko Widodo (Jokowi) had earlier ordered several ministers and institution heads to make policy breakthroughs in the fields of investment and exports.

He reiterated that exports and investment are the keys to addressing trade balance and current account balance deficits.

The president is optimistic of the policies on investment and exports leading to concrete actions that can be implemented.

Jokowi also reminded officials to understand the problems faced by businessmen. Policies on investment and licensing bureaucracy must be improved, he stated.

Related news: Indonesia, Vietnam target US$10 billion in trade: Ambassador
Related news: Indonesia, Argentine form WGTI to intensify trade cooperation
Related news: RI encourages coop on Industry 4.0, creative economy development
Editor: Sri Haryati

COPYRIGHT © ANTARA 2019

 

[Nike]

IK-CEPA can raise Indonesia-S Korea trade to US$30 billion in 2022
22nd Aug 2019 23:29

Minister of the South Korean Embassy in Jakarta Jeon Joyoung (ANTARA/Mentari Dwi Gayati)

Jakarta (ANTARA) - Minister of the South Korean Embassy in Jakarta Jeon Joyoung believed that the Indonesia-Korea Comprehensive Economic Partnership Agreement (IK-CEPA) will be able to increase trade between the two nations to up to US$30 billion in 2022.

"During (the South Korean) president's visit to Indonesia in 2017, the two leaders agreed to develop trade volume to more than US$30 billion in 2022 and CEPA is highly expected to make it easy to achieve," Joyoung said in an exclusive interview with ANTARA at Wisma ANTARA building in Jakarta on Thursday.

Since February 2019, the governments of the two countries have intensively discussed the CEPA to give maximum benefits to both sides, he said.

Both countries are expected to sign the IK-CEPA during the 30th ASEAN-Korea Commemorative Summit to be held in South Korea in November 2019, he said.

Earlier, Indonesian Trade Minister Enggartiasto Lukita expected the IK-CEPA to be concluded at the end of 2019.

"Indonesia and South Korea have agreed on the target to conclude IK-CEPA at the end of 2019 when the 30th ASEAN-Korea Commemorative Summit takes place in South Korea. The target has been set forth in the IK-CEPA work plan," he said during a bilateral meeting with the South Korean Minister of Trade, Industry and Energy Myung Hee Yoo on the sidelines of the 8th Regional Comprehensive Economic Partnership (RCEP) Intersessional Ministerial Meeting held in Beijing on August 2

According to data from the Central Statistics Agency (BPS), total trade between the two nations reached US$18.6 billion in 2018, with Indonesia enjoying a surplus of US$443.6 million.

South Korea is the seventh largest destination for Indonesia's exports and is the sixth largest source of Indonesia's imports.

Indonesia's exports to South Korea reached US$9.53 billion in 2018, up 14 percent from US$8.20 billion a year earlier. Meanwhile, Indonesia's imports from South Korea reached US$9.1 billion, up 9 percent from US$8.12 billion the year before.

Indonesia's exports to South Korea mainly comprise coal, copper ore, natural rubber, plywood and unforged tin, while its imports from South Korea consist of synthetic rubber, steel, and integrated electronic circuit.
Editor: Rahmad Nasution

COPYRIGHT © ANTARA 2019