RI aims to boost trade with Panama

JAKARTA. Indonesia expects its trade with Panama will rise significantly in the coming years due to huge untapped potential, trade ministry director general for national export development Gusmardi Bustami says.

“Indonesia and Panama have not carried out a lot of trade, but the prospects for a rise are enormous,” Gusmardi said on Wednesday in a statement.

Bilateral trade between Indonesia and Panama was US$218.7 million last year, up 45.1 percent from 2011. During the first half of this year, trade rose by 40.8 percent to $184.9 million, with Indonesia suffering a $36.7 million in deficit.

Indonesia exports footwear, electronic components, textile and textile products, and tires, while importing passenger and commercial vessels, tankers, ferrous waste and scrap.

Gusmardi is leading a trade mission to Panama, meeting the country’s Trade and Industry deputy minister Jose Pacheco Tejeira in Panama City. During a business forum, Gusmardi invited Panama’s business community to take part in Trade Expo Indonesia, Indonesia’s biggest annual trade exhibition, set for Oct. 17 to 21 in Jakarta. (The Jakarta Post)

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