Saturday, 25 June 2022 | 10:58 WIB

Indonesian Delegation Meets Mexican Ministry of Economy

Indonesian Delegation Meets Mexican Ministry of Economy (special)

MEXICO CITY, NETRALNEWS.COM - The Indonesian delegation has met with the Mexican Ministry of Economy in Mexico City, Mexico. This bilateral meeting discussed efforts to increase trade between the two countries. This meeting was the closing visit of the Indonesian delegation to Latin America region. Previously, the Indonesian delegation also visited Brazil and Colombia.

"This meeting is the first approach to return after a long vacuum. The two parties basically have the same view that trade relations must be deepened through a formal mechanism between the two governments to discuss trade and investment issues. This is because Indonesia and Mexico are two developing economies that have a lot in common, "said Bilateral Negotiations Director Ni Made Ayu Marthini, Chairperson of the Indonesian Delegation.

Made revealed, the Mexican side appreciated the efforts of the Government of Indonesia in approaching Mexico. According to them, the timing of the meeting was very appropriate, amid the current uncertainty in the world economy. Both Delegations also exchanged information on economic developments and their respective trade policies as well as the development of the trade agreement agenda that is currently being negotiated.

At this meeting, the Indonesian delegation proposed that the planned implementation of the Working Group on Trade and Investment (WGTI), which was discussed in 2012, could be resumed. "WGTI can be a forum of the two countries discussing trade and investment issues and opportunities so that closeness can be established. Moreover, the combination of the markets of the two countries has almost reached 400 million people," continued Made.

On this occasion, Indonesia also emphasized that Mexico is one of the priorities of Indonesia's priority in the context of diversifying trade objectives. While Mexico sees Indonesia as one of the priority countries not only in trade, but also in investment.

Made added, besides Brazil and Colombia, Mexico is a strategic trading partner in the South American continent. "In addition to deepening bilateral trade, Mexico can be an important hub for the expansion of Indonesian products into the Latin American market," he concluded.

The total trade between the two countries reached US $ 1.19 billion two years ago, with a surplus position for Indonesia of around US $ 618 million in 2018. In that year, Indonesia's exports to Mexico were recorded at $ 905 million, and Indonesian imports from Mexico were recorded at $ 287.3 million.