Below are excerpts from the stories in Indonesia, curated by Kompas.com editors:
1. Indonesia Targets Non-Oil and Gas Export at $180 Billion Next Year
Indonesia’s Ministry of Trade has set a $180 billion target for non-oil and gas exports next year, or up 38.4 percent from $130 billion in 2020.
Minister of Trade Agus Suparmanto said the optimistic target was based on the projection of economic improvement next year, as Covid-19 vaccines have arrived in Indonesia.
As the government is scheduled to begin a mass inoculation program next year, the economic activity could gradually recover after being hit by the Covid-19 pandemic.
“The target of non-oil and gas export next year is to achieve $180 billion. And we are optimistic that we can get through the pandemic so that [the economy] can return to normal,” Agus said in a virtual press conference on Friday, December 18.
Besides, Indonesia has signed various free trade agreements that are expected to boost exports next year.
The latest one includes the Indonesia-Korea Comprehensive Economic Partnership Agreement (IK-CEPA), which can increase the bilateral trade between both nations.
This year, Indonesia has also signed the Regional Comprehensive Economic Partnership (RCEP), one of the largest trade deals that covers a third of the global economy and population.
Indonesia also signed other agreements on Indonesia–Australia CEPA, ASEAN–Hong Kong, China Free Trade, and China Investment.
Agus hoped that these various trade agreements and the support of economic recovery following the vaccination program can increase the target of non-oil and gas export in 2021.