Indonesia and Turkey agreed to finalize the Indonesia-Turkey Comprehensive Economic Partnership Agreement (IT-CEPA) negotiations this year, which is expected to overcome obstacles and encourage increased trade performance of the two countries.
The total trade between the two countries in 2018 was recorded at US$ 1.79 billion, rose US$9 billion from 2017 which was valued at US$1.70 billion. Last year, Indonesia won a surplus of US$634.9 million with an export value of US$1.81 billion and imports of US$611.5 million.
Meanwhile, for the January – April period the total trade between the two countries reached US$503.7 million with Indonesian exports amounting to US$381 million and imports of US$122.7 million, trade ministry data showed.
Minister of Trade Enggartiasto Lukita, who hold the bilateral meeting with Turkey’ trade minister Ruhsar Pekcan in Ankara on Friday (July 12) explained that the government is targeting Turkey as the new export hub to reach markets in the Middle East, South Europe, and North Africa regions.