Thursday, October 28, 2021

Indonesia, Morocco To Enhance Bilateral Trade under Preferential Trade Agreement

As a result of the Preferential Trade Agreement (PTA), Indonesia and Morocco have identified their potential products to enhance the bilateral trade between the two countries.

“The two countries have identified potential sectors and products whose trade could be increased,” Director of Bilateral Negotiations at the Indonesian Trade Ministry Ni Made Ayu Marthini assured.

Indonesia has come up with several products, including automotive components, leather products, textiles, spices, foods, beverages, furniture, palm oil, paper, coffee, and aquatic products.

Meanwhile, at its meeting with the Indonesian Chamber of Commerce and Industry (Kadin), Morocco is keen to explore trade in palm oil, coffee, textiles, rubber, tires, pharmaceuticals, olive oil, and agro-industrial products.

Morocco is one of Indonesia`s non-traditional export markets which serve as a gateway for its exports to Africa and Europe.

Trade between the two countries reached US$154.8 million in 2017, with Indonesia`s exports to Morocco valued at $86 million and its imports from the North African country valued at $68.8 million.

As a result, Indonesia registered a surplus of $17.1 million in its trade with Morocco in that year. Indonesia’s exports to Morocco in 2017 comprised coffee, worth $23.5 million; artificial staple fiber yarn, worth $9.0 million; synthetic staple fiber yarn, worth $7.5 million; palm oil and its fractions, both purified or not, worth $7.1 million; and oxygen amino compound, worth $4.6 million.

On the other hand, Indonesia’s imports from Morocco covered natural calcium phosphate worth $42.4 million; women`s jackets worth $6.2 million; women’s shirts and blouses worth $4.4 million; mineral or chemical fertilizers worth $3.7 million; sports, ski, and swimming wears worth $1.4 million.

More News at EurAsian Times

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