Indonesia, India Roll Out Preferential Trade Agreement

Indonesia and India have agreed to maintain their preferential trade agreement. The two countries are also committed to cooperating in trade and investment, as well as to overcoming various obstacles in the two sectors.

KOMPAS/HENDRIYO WIDI

The Minister of Trade Zulkifli Hasan and the Indonesian Ambassador to India Ina Hagniningtyas Krisnamurthi held dialogues with Indian business and industry and a number of countries in the Indonesia Country Session which is part of the 2023 CII Partnership Summit in New Delhi, India, Tuesday (14/3/2023).

NEW DELHI, KOMPAS – Indonesia and India aim to reach US$50 billion in non-oil gas and trade between the two countries by 2025. This target will be realized through a preferential trade agreement (PTA) and collaboration between business and industry players from the two countries.

The trade target was agreed by President Joko “Jokowi” Widodo and Indian Prime Minister Narendra Modi in 2019. Until 2022, total non-oil and gas trade between the two countries had reached $32.7 billion, growing 55 percent on a yearly basis.