Indonesia, Tunisia Trade Agreement Projected to Boost Export Value
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11 September 2024 11:45 WIB
TEMPO.CO, Jakarta - The Indonesian Ambassador for Tunisia, Zuhairi Misrawi, said, if ratified, the Indonesia-Tunisia Preferential Trade Agreement (IT-PTA) could potentially boost the value of bilateral trade between both countries up to US$1 billion.
“IT-PTA covers tariff dispensation on 250 items, and after, I imagine our export agreement could be valued at US$500 million up to US$1 billion,” he said on Tuesday, September 10, 2024.
If achieved, Indonesia would become one of the biggest exporters to the country located in the crossing between Europe, the Middle East, and Africa.
Based on the data by the Indonesian Ministry of Trade, in 2023, the trade value between Indonesia and Tunisia was US$217.6 million, up 1.09 percent compared to the previous year at US$215.3 million.
Ambassador Zuhairi said the IT-PTA is currently finalized. Indonesia and Tunisia, he said, are ready to sign the agreement that would lift a significant obstacle for both countries’ bilateral trade relations.
Initially, the agreement was set to be signed during the 2nd Indonesia-Africa Forum (IAF) in Bali earlier this month, but Tuniasia was undergoing a cabinet reshuffle.
“The signing will likely be conducted during Trade Expo Indonesia (TEI) this October, or awaiting the trade minister’s visit momentum,” he said.
Zuhairi was sure that IT-PTA would boost Indonesia’s export potential to Europe, the Middle East, and Africa through Tunisia as the medium.
In a separate explanation, Zuhairi said his side is exploring the export potential of coffee and paper to complete the main export commodities to Tunisia. Currently, Indonesia’s main export commodities to the country are oil palm, furniture, fruit and fishery products, and vehicle spare parts.
The actions taken to improve export capacity to Tunisia are part of the effort to boost the economy, as targeted by President Joko Widodo, Zuhairi said.
TEMPO.CO
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