Trade Minister Enggartiasto Lukita (Photo:Medcom.id/Annisa)
Trade Minister Enggartiasto Lukita (Photo:Medcom.id/Annisa)

Indonesia-Argentina to Expand Trade Ties

English global economy (en) indonesian economy (en)
Ilham wibowo • 14 Mei 2019 14:49
Jakarta: Trade Minister Enggartiasto Lukita held a bilateral meeting with Argentinian Foreign Affairs Minister Jorge Marcelo Faurie during his working visit to the South American country on Monday.
 
"Argentina and Indonesia need each other. The two countries can help each other," Enggartiasto said in a press statement received by Medcom.id.
 
On the same day, Enggartiasto also met with Mercosur ASEAN Chamber of Commerce (MACC) president Piet Verdult in Buenos Aires, Argentina. According to the press release, He received MACC officials at the Indonesian Embassy building.

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Later this week, Enggartiasto will attend the 2019 he 2019 APEC Ministers Responsible for Trade Meeting (MRT) in Vila Del Mar, Chile. During the forum, he will meet with his counterparts from other APEC countries.
 
The current account deficit in the first quarter of 2019 recorded at USD7.0 billion (2.6 percent of GDP), lower than the previous quarter’s deficit of a USD9.2 billion (3.6 percent of GDP).
 
A narrower current account deficit was primarily driven by an increasing goods trade surplus, supported by an incline in the non-oil and gas trade surplus coupled with reductions in the oil and gas trade balance deficit.
 
Such dynamics were influenced by a deeper imports decline compared to decreased exports, in line with government’s policy to control the import of certain commodities which has been implemented since the end of 2018.
 
Meanwhile, the services trade deficit increased mainly due to a lower travel services surplus as the number of foreign tourists visits decreased in accordance with the seasonal trends, amidst declining imports of freight services.
 
"Bank Indonesia constantly strengthens coordination with the Government and other relevant institutions to reinforce external resilience, including to control the current account deficit in 2019 to decline within a manageable range of 2.5% of GDP," Bank Indonesia said in a press release last week.
 

(WAH)
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