ASEAN KEY DESTINATIONS
Govt increasing trade with Turkey will open continental links: economist
Amid a global economic slowdown, especially in developed markets, the government’s plan to forge economic cooperation with Turkey will also open the potential to enter African and Middle Eastern markets, an economist predicts.
As Indonesia’s seventh largest market in Western Europe, Turkey could be a hub entrance for Indonesia to enter other countries in the two continents, said Beginda Pakpahan, a political and economic analyst on global affairs at the University of Indonesia.
“It will help Indonesia to improve trade performance amid the economic slowdown.
Indonesia’s main export commodities to Turkey are palm oil, textile, cooper, steel, and rubber while Indonesia imports synthetic wool, machinary and tobacco.
"Aside from palm oil, textile and rubber, Indonesia still has other notable products such as furniture, coffee, shrimp, and cocoa that potentially could be exported to Turkey," he said.
The move to increase economic ties between Indonesia and Turkey has been raised in a bilateral meeting on the sidelines of the recent Foreign Ministerial Meeting of Islamic Cooperation Organization that started on April 14 in Turkey.
Foreign Minister Retno LP Marsudi said Indonesia and Turkey had agreed to increase economic bilateral relations. “The Indonesia-Turkey joint commission meeting will be held in the near future to increase the trade value of both countries,” she said.
The trade value between Indonesia and Turkey reached US$1.4 billion in 2015. (sha/ags)
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