Indonesian Trade Minister Lukita said he is optimistic that total trade between both countries can double in the next couple of years, from US$$274.1 million in 2018. Lukita added that total trade between Indonesia and Chile in 2018 did not reflect the “true potential of both countries”.
Indonesia-Chile CEPA to Come into Effect in August
Trade Minister Enggartiasto Lukita last week met Chilean Vice-Minister of Trade Rodrigo Yanez Benitez to exchange an instrument of ratification of the Indonesia-Chile Comprehensive Economic Partnership Agreement (IC-CEPA). The IC-CEPA, Indonesia’s first trade agreement with a Latin American country, is set to come into effect on 10 August 2019.