Indonesia and South Africa agree to strengthen trade and enterprise cooperation in key export sectors

The Indonesian Ministry of Trade announced that Indonesia and South Africa have agreed to explore new ways to deepen bilateral cooperation in the fields of trade and enterprise development. This is reported by MENA, a partner of TV BRICS.

In a statement, the ministry said that Trade Minister Zulkifli Hasan held talks with South African Deputy Minister of Trade, Industry and Competition Zuko Godlimpi during a meeting in South Africa. Both sides pledged to strengthen collaboration in these areas through strategic partnerships and practical initiatives.

Minister Hasan emphasised that the meeting provided valuable momentum for both countries to enhance their economic relations. He confirmed that the two parties had agreed to advance discussions on new cooperation frameworks, particularly in trade and the development of micro, small and medium enterprises (MSMEs).

Highlighting South Africa’s position as Indonesia’s key strategic partner in Africa, the minister pointed to the potential for expanding bilateral trade in key Indonesian export sectors such as palm oil, rubber, and motor vehicles.

The two sides also discussed resuming regular meetings of the Indonesia–South Africa Joint Trade Committee, established in 2005 as a platform for sharing information on trade and investment opportunities. In this regard, Minister Hasan proposed holding the fourth session of the committee in Indonesia to discuss strategic measures for strengthening cooperation in trade, investment, and industry.

Between January and August 2023, total trade between Indonesia and South Africa reached US$1.42 billion, with Indonesian exports amounting to US$690.6 million. In 2022, bilateral trade stood at US$2.41 billion – an increase of 7.2 per cent compared to the previous year.

Photo: Tryaging / iStock