Indonesia hopes to renegotiate trade and investment deal with Japan
Topics: INDONESIA JAPAN
Ni Made Ayu Marthini, the Trade Ministry's bilateral negotiations director, has stated that the government is focusing on expanding its market access and reviewing Japan’s Tariff Rate Quotas (TRQ) for Indonesia’s agricultural products.
“In regard to market access, some of our fishery products still have higher tariffs to enter the Japanese market, including canned products. We would also like to secure the fruit market in Japan, and Japan currently implements the TRQ for Indonesia’s [products],” she said on Tuesday.
Greater market access for Indonesia’s products would boost trade between the two countries, Miss Made said, as Japan is Indonesia’s third-largest export destination and second-largest import source.
According to thejakartapost.com, the total value of trade between Indonesia and Japan reached US$31.56 billion in 2019, a slight decrease from $37.44 billion in 2018, according to Trade Ministry data. Indonesia also posted a trade surplus of around $320 million in 2019. ■