Indonesia expects to earn $70 bln from exports to China
The Indonesian government is optimistic that the export value to China would reach $70 billion in 2024.
Durian is among the most exported commodities from Indonesia to China. Photo courtesy of Antara.
The Indonesian Chamber of Commerce and Industry (Kadin) has said that crude palm oil (CPO), coal, and durian are the top commodities exported to China.
Kadin's Deputy Chairman for Trade Juan Permata Adoe said on May 3 that China has plans to invest in Indonesia's downstream industry. In addition, China is willing to invest in rice farming with technology, which will benefit Indonesia through learning.
Meanwhile, the Indonesian Ministry of Trade expressed optimism that exports to China would increase this year, as the government is optimising the Two Countries Twin Park (TCTP) cooperation.
The trade ministry, based on official data from the Statistics Indonesia (BPS), estimated that exports to China last year had reached $60 billion.
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