Indonesia and Malaysia expect bilateral trade to hit US$15 billion

Speaking to reporters after a meeting with Malaysian Trade and Industry Minister Dato' Sri Mustapa Mohamed in Jakarta, Indonesian Trade Minister Mari Elka Pangestu said that by opening more trade routes in border areas, the bilateral trade could be increased to at least US$15 billion this year.

She said the total bilateral trade value, which last year fell to US$12.5 billion, had bounced back over the past several months. From January to May, the bilateral trade rose about 90 percent to US$7.1 billion from US$3.7 billion in the same period, last year.

“Given this positive trend, we hope we can reach the peak recorded in 2008 when the two-way trade reached US$15.3 billion,” she added.

Manufactured goods were the largest exports to Malaysia last year, reaching US$1.5 billion, followed by minerals with US$1.3 billion and vegetable oils with US$1.1 billion, the Indonesian Embassy in Malaysia reported.

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