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International trade agreements and exports, priorities of the Ministry of Commerce

Jakarta. The Ministry of Commerce has announced its political priorities for the next five years, focusing on the conclusion of international trade agreements and increased exports.

"Over the next five years, the Ministry of Commerce will support the vision and mission of President Joko Widodo. Currently, the national economic growth is 5.02% and we plan to increase it from 5.4% to 6%. To do this, we must improve our economic resilience to improve our competitiveness, "said Minister of Commerce Agus Suparmanto in Jakarta on Friday.

"We must also strengthen the growth of our investments and domestic trade, and fight inflation by stabilizing prices," he said.

Agus said his office would focus on human development, infrastructure development, streamlining regulations and cutting red tape, as requested by the president.

In particular, the president asked Agus to manage the trade deficit and control imports.

"To protect our trade balance, we will actively expand our market access by ending all international trade negotiations, which could increase our exports and investments," he said.

The priority negotiations on the table are the Comprehensive Economic Partnership Agreement (EPA) between Indonesia and the European Union and preferential trade agreements with Tunisia, Morocco, Bangladesh and Turkey.

"We must keep a realistic export target despite the global economic slowdown. We will increase oil and gas exports from 6.8% to 12.2%. We aim to increase exports of goods and services from 4.5 to 8.6%. We will also secure and strengthen the internal market, noting that 53% of our GDP comes from our domestic consumption, "the minister said.

The ministry will increase non – oil and gas export targets to $ 190 billion from $ 175 billion by 2018.

"To control our imports, we will prioritize the import of raw materials or auxiliaries for export and investment," Agus said.

On the export side, they will focus on the main products, namely crude palm oil and coal, as well as on the export industries. and wood products.

. (tagsToTranslate) international trade (t) International Trade (t) Agreements (t) and (t) Exports (t) Priorities (t) of (t) Trade (t) Ministry

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