JAKARTA – Economic Coordinating Minister Airlangga Hartarto said that the Chinese government will reopen its markets for crude palm oil (CPO) and other agricultural commodities from Indonesia.

“The Chinese government has also pledged investments in the ‘green industry’, electric vehicles and batteries, the digital sector, and logistics,” Airlangga said.

His remarks came after he received a visit from Sun Haiyan, Deputy Minister of the International Liaison Department of the Communist Party of China (CPC), at his office in Jakarta on Tuesday (30/07/2024).

According to Airlangga, bilateral trade between Indonesia and China was valued at US$127.8 billion last year, in Indonesia’s favor.

“Of that amount, Indonesia’s exports to China stood at US$64.9 billion, while imports from China totalled US$62.88 billion, creating a trade surplus for Indonesia at US$2.057 billion,” he said.

During the previous four consecutive years, Indonesia had suffered a trade deficit with China.

In addition to the trade sector, China’s investments in Indonesia are realized in five sectors, namely metal processing industries at US$12.8 billion (41%), transportation, warehouses and telecommunication sectors at US$7.9 billion (26%); electricity, gas, and water at US$2.5 billion (8%), chemical and pharmacy sectors at US$2.4 billion (8%), industrial zones, housing, and office buildings at US$2 billion (7%).

The CPC invited the Indonesian government and the Golkar Party to visit China to share knowledge about their free meal program.

President-Elect Prabowo Subianto plans to provide free meals for children and expectant mothers when he assumes office in October, as part of his efforts to combat stunting.

“China has implemented a similar program for 10 years,” Airlangga said. (*)

Source: jakartaglobe.id