Indonesia, Bangladesh expand economic cooperation

Jakarta, InfoPublik – Indonesia and Bangladesh have an excellent bilateral relation especially in the economic sector. The trade value of the two countries increased from USD1,38 billion in 2014 to USD1,65 billion in 2017.

"Indonesia's main export commodities include CPO, train and its component, and paperboard. Meanwhile, the main import goods from Bangladesh is yarn," said Industry Minister Airlangga Hartarto in a statement received by InfoPublik in Jakarta on Tuesday (3/27).

Airlangga appreciated the trust to PT INKA to support the development of Bangladesh connectivity. The Indonesian railway industry company is gradually sending 400 train cars.

"The cooperation between PT. INKA with the Bangladesh Railway in the purchase of railway cars was started in 2017. This will be a milestone for various cooperation development for both parties in the future," he said.

In addition, PT. Japfa Comfeed Indonesia plans to build a new factory in Bangladesh that will focus on producing animal feeds. It indicates the national industry’s ability to expand in global market.

"In the future, this cooperation will form a joint venture in machinery and component as well as technical cooperation or capacity-building for Bangladesh's labor force," he said.

He believes that the cooperation opportunity between the two countries is promising given the huge potential of economic growth in Indonesia and Bangladesh.

"Indonesia has a large market and a huge number of workforce. The Indonesian government also continues to create a conducive investment climate as well as provide convenience for the industry players to run the business," he said. (Translator: Wilda Stiana)