Pandemic Triggers RI-India Trade Value of IDR 717 T Failed to Achieve

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Jakarta, ONENEWS.MY.ID The Covid-19 pandemic has had many negative impacts, especially on the world economy. Indian Ambassador to Indonesia Manoj Kumar Bharti said his country could not achieve its trade target with Indonesia.

Manoj said, before the pandemic, India had set its trade target with Indonesia to reach US$ 50 billion or Rp. 717 trillion (assuming Rp. 14,300/US$) by 2025.

“Unfortunately, due to the pandemic, I believe this figure will be difficult to achieve,” said Manoj in ONENEWS.MY.ID’s Prime Words program, Wednesday (5/1/2022).

Even so, trade between India and Indonesia is said to be very substantive. In 2019, bilateral trade between the two countries reached US$ 20 billion (Rp 287 trillion).

Meanwhile, in the latest figures, according to figures released some time ago, the total bilateral trade has almost reached US$ 17 billion (Rp 244 trillion) between January-October 2021.

“Beyond that, Indonesia’s exports to Indonesia have almost reached US$ 10.7 billion (Rp 153 trillion). According to statistics, Indonesia’s surplus is almost US$ 4.75 billion (Rp 68.1 trillion) over India. So our trade is quite substantive,” he said.

Manoj explained that India has consistently moved to increase bilateral trade between the two countries.

“We also need some policy changes, rule changes, changes to barriers without tariffs and other things,” he said.

Unfortunately, says Manoj, most trading is limited to a few big things. For example, India imports large amounts of palm oil from Indonesia. Likewise coal imported from Indonesia substantively. India is also the largest importer of palm oil from Indonesia.

“This makes it a potential trade dynamic in bilateral relations,” he said. “In my opinion, India’s biggest imports are drugs, chemicals, agricultural products and things like that.”

[Gambas:Video CNBC]

(tfa/tfa)


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