Jokowi Held Meeting with UAE Minister of Trade

Jakarta: President Joko Widodo (Jokowi) received an honorary visit from the trade minister of the United Arab Emirates (UAE) and his entourage today, September 3, 2021. The two countries cooperate in the trade sector.
 
"This trade agreement is something very important and is part of our platform or window to sell exports to other destination countries," said Trade Minister Muhammad Lutfi via teleconference in Jakarta, Friday, September 3, 2021.
 
Lutfi said Indonesia and the UAE agreed to cooperate in the trade sector with the CEPA agreement. Lutfi believes this cooperation can make Indonesia's trade related to the UAE two to three times profitable.

"Buying and selling between our trade is around USD2.9 billion," said Lutfi.
 
Lutfi is optimistic because some areas of sales are very promising. Mainly about the sale of gold and jewelry. He also explained the tantalizing calculation to the Head of State.
 
"Indonesia will sell USD8.2 billion in gold and gold jewellery in 2020, becoming the fifth largest item for our non-oil and gas exports," said Lutfi.
 
Lutfi said of the total sales, 3.7 percent were purchased by transit countries. Almost all of the transit countries have trade agreements with the UAE
 
Indonesia wants to target the transit country. Lutfi is sure that this cooperation can make Indonesia more profitable.
 
"At the same time we only sell US$76 million to the UAE directly, why? Because the trade agreement means selling Indonesian goods is 5 percent cheaper because the tax is low compared to buying directly with Indonesia," said Lutfi.
 
Lutfi also believes that the agreement can make Indonesia enter the African market and the Arabian Peninsula. Lutfi hopes that this collaboration will be completed quickly.
 
"Therefore we will finalize this agreement at the first opportunity in no more than one year, and hopefully on November 4, when the visit of the President of the UAE, this agreement is almost complete or can even be finalized," he said.
 
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