Jakarta: Trade Minister Muhammad Lutfi held a bilateral meeting with New Zealand's Trade and Export Growth Minister Damien O'connor on the sidelines of APEC's 28th Ministers Responsible for Trade (MRT) meeting.
APEC's meeting was held on May 21-22 in Bangkok, Thailand.
"The meeting aimed at achieving meaningful results this year by focusing on constructive discussion on priority issues to achieve collective economic recovery, which aligns with SDGs" Lutfi noted through his statement on Monday.
The minister expects that all G20 members and guests, including from New Zealand, can educe the same spirit and express their support to make Indonesia's presidency a success by providing practical solutions and results this year.
During the meeting, the minister highlighted economic participation in the Indo-Pacific region.
Indonesia welcomes the United States' keenness to bolster economic participation with the Indo-Pacific region through the Indo–Pacific Economic Framework (IPEF), he affirmed.
To this end, synergy between IPEF and the ASEAN Outlook on the Indo-Pacific (AOIP) is necessary as stated by President Joko Widodo during the U.S.-ASEAN Summit.
Indonesia is keen to see real results expected from every cooperation offered by the US, especially in the trade and supply chain pillar, the minister remarked.
The country is also keen to witness the ways in which such cooperation improved the prosperity of people in the Indo-Pacific region, specifically the ASEAN, he remarked.
The trade between Indonesia and New Zealand has vast potential to be continually developed, he stated.
Indonesia has several potential products, such as motor vehicles, newsprint, uncoated paper, and plywood.
Meanwhile, potential products from New Zealand include low-fat milk powder, frozen cow meat, and fresh apples.
Moreover, New Zealand ranks 38th in terms of foreign investment in Indonesia in 2021, worth US$8.2 million, especially in the service sector, such as hotel, restaurant, housing, industry, and business activities, including trade.
"I encourage New Zealand's investors to explore other potential sectors to create new opportunities for economic growth of the two countries," Lutfi remarked.
Meanwhile, Minister O'connor expressed his support in boosting trade cooperation between Indonesia and New Zealand.
In addition, cooperation with various countries in handling future challenges is necessary, such as in reducing the impacts of climate change and war between Ukraine and Russia.