Jokowi Encourages Indonesia-South Korea Trade Cooperation
- Biro Pers Sekretariat Presiden.
VIVA – During the meeting at G7 Summit in Hiroshima, Japan, President Joko Widodo (Jokowi) also held a bilateral meeting with President of South Korea, Yoon Suk Yeol. This meeting aims to encourage several cooperation between Indonesia and South Korea.
President Widodo emphasized trade cooperation between the two countries through the Indonesia-Korea Comprehensive Economic Partnership Agreement (IK-CEPA), which is considered to be implemented optimally.
This includes support for 18 project proposals, which have previously been submitted by Indonesia.
"IK-CEPA must be implemented optimally, including support for 18 Indonesian proposals in agriculture, health, culture, fisheries, automotive, and IT," Jokowi said in his statement on Sunday.
In the field of investment cooperation, Jokowi asked for President Yoon's support for the realization of investment commitments of a number of South Korean companies in Indonesia.
Pembangunan jalan lingkar sepaku yang menjadi konektivitas menuju IKN.
- Dok. PUPR
"I ask for President Yoon's support regarding the realization of Lotte Chemical and CJ Group's commitment to build a chemical industry factory in Banten and a 'bioproduct' factory in East Java, support for energy distribution and renewable energy through LS Cable and TSE companies, and the realization of EV ecosystem investment," the President explained.
Meanwhile, regarding the development of the (IKN Nusantara), President Widodo stated that Indonesia has prepared investment incentives and facilities for investors.
The President also hopes that the construction of a water treatment system in IKN, which is also supported by South Korea, will run as scheduled.
"Hopefully, the water treatment plant, Sepaku Semoi Water Treatment Plant, will be completed on schedule," the President expected.
IK- CEPA is officially implemented on January 1, 2023. The implementation marks the 50th anniversary of diplomatic ties between Indonesia and South Korea.
During January-October 2022, the trade value between Indonesia and South Korea was recorded at US$20.6 billion, an increase of 40.36 percent from that of the same period last year, which was recorded at US$14.6 billion.
Indonesia’s exports to South Korea were recorded at US$10.6 billion in the period, while imports from South Korea were recorded at US$9.9 billion.
Furthermore, the President also discussed cooperation in the field of labor. He asked the President of South Korea to increase the quota and expansion of the field of work, for Indonesian migrant workers in South Korea.
"I ask for your support regarding the addition of quotas and expansion of work fields for Indonesian migrant workers (PMI) as well as South Korea's participation in the construction of the PMI training center," President Joko Widodo said.
