NextGen Day

Given their close proximity and growing economic ties, Indonesia and the Philippines are developing a deeper economic relationship.

The two countries can “perform great work together,” according to Ambassador Agus Widjojo, to strengthen their economic ties and increase their bilateral trade, which was severely hindered at the height of the pandemic.

The strategic geographic proximity and archipelagic characteristics of this partnership, according to Widjojo, “made the government and business sectors in both countries easily understand the existing potentials as well as fundamental barriers in the mobility of goods and services between the two countries.”

The Asean Free Trade Area’s (AFTA) extensive network of discussion partners, including international forums like the East Asia Summit and the Asia-Pacific Economic Cooperation, might be utilized by the two nations, according to Widjojo.

He stated that “these venues are essential in ensuring additional trade transactions and investments for Indonesia and the Philippines are certain.”

The envoy claimed in a separate interview that Manila and Jakarta are also striving to bring the value of the Philippines’ exports to parity with its imports from Indonesia.

“[Trade] is improving, even if we currently understand that the Indonesian side of the trade balance is on the surplus side, so we must seek imaginative and creative ways to balance it,” he said.

The Indonesia Expo, organized by the Indonesian Embassy in Manila, took place at the SM Megamall in Mandaluyong City on Friday. There were 20 exhibitors, including those in the food and beverage, furniture, cosmetics, and power plant industries.

According to Widjojo, “I am certain that today’s activities will give momentum for all participants to recover jointly, recover more powerfully, and generate economic advantages not only for Indonesia but also significantly contribute to the economic growth of the Philippines.”

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