Indonesia and Egypt Sign Cooperation to Form Joint Trade Committee
- Dok. Istimewa
VIVA – The Indonesian Minister of Trade, Zulkifli Hasan, and the Egyptian Minister of Trade and Industry, Ahmed Samir Saleh met on Monday, in Cairo, Egypt to discuss trade deals or total business transactions covering several matters.
The trade agreement includes Apical 300,000MT RBD Palm Oil worth US$ 330,000,000 and Wilmar 480,000MT RBD Palm Oil worth US$ 528,000,000. While trade returns include PT PPI in the form of dates, grapes, and pomegranates worth US$ 505,000 and On the Spot trade contracts worth US$ 580,000.
"Total USD 859,085,000. Equivalent to IDR 12.88 trillion," Minister Hasan informed.
Minister Zulkifli Hasan and Egyptian Minister of Trade and Industry Ahmed Samir Saleh signed a Memorandum of Understanding (MoU) on the Establishment of a Joint Trade Committee (JTC).
Mendag RI Zulkifli Hasan bertemu pejabat Kemendag dan Industri Mesir
- Dok. Istimewa
The Indonesia and Egypt JTC is a bilateral forum between Indonesia and Egypt that aims to promote and enhance trade cooperation between the two countries.
"In addition to the signing of the JTC MoU, the two Ministers also held bilateral meetings to discuss several issues of improving trade relations between the two countries, including the possibility of starting discussions on the Indonesia-Egypt Preferential Trade Agreement (Indonesia-Egypt PTA)," Minister Hasan explained.
The Minister also said that the JTC was established based on the Leaders' Joint Statement of Indonesian President Joko Widodo and Egyptian President Abdel Fatah al-Sisi during the Egyptian President's visit to Jakarta on September 4, 2015.
"The JTC forum will be led by Director General-level officials, namely the Director General of International Trade Negotiations for Indonesia and the First Secretary of Egyptian Commercial Services for Egypt," he stated.
The JTC forum aims to promote and enhance bilateral trade cooperation between the two countries, the minister said.
Among others, through the identification and implementation of measures to improve trade relations, resolve trade problems or barriers, as well as a medium for consultation and exchange of trade information.
"The JTC forum is projected to be a medium that can accommodate the aspirations and input from the business community of both countries," he remarked.
