Indonesian trade mission seeks to boost export potential in Egypt

Indonesia’s Trade Minister Zulkifli Hasan began a visit to Egypt on Sunday. (File/AFP)
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Updated 14 May 2023
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Indonesian trade mission seeks to boost export potential in Egypt

  • Indonesia hopes to start PTA talks with Egypt
  • In 2022, bilateral trade was worth $1.57bn

JAKARTA: Indonesia’s Trade Minister Zulkifli Hasan began a visit to Egypt on Sunday as Jakarta seeks to explore export potential in non-traditional markets in Africa.

Hasan will hold talks with Egypt’s Minister of Trade and Industry Ahmed Samir during the three-day trip, with Jakarta and Cairo expected to sign a memorandum of understanding to form a joint trade committee.
“We are hoping for new trade transactions and a willingness from the Egyptian side to start talks on Indonesia-Egypt PTA (Preferential Trade Agreement),” Hasan said in a statement shared with Arab News.
PTA will provide easier access for a number of products from both countries by reducing or eliminating duty rates, the minister said.
“The African market, such as Egypt, is a potential non-traditional market that we must work on intensively. As such, we will meet various parties and increase trade cooperation with stakeholders in Egypt.”
In Cairo, Hasan will also meet members of the Federation of Egyptian Chambers of Commerce and open the Indonesia-Egypt Business Forum, the latter of which is expected to bring together businesses from the two countries.
“Trade Minister Zulkifli Hasan will witness the signing of several memoranda of understanding between businesses of the two countries,” the trade ministry said.
Bilateral trade was worth $1.57 billion last year, with palm oil and its derivatives, as well as coffee beans and coconuts, comprising Indonesia’s main exports to the North African nation.
Hasan will also inaugurate a space dedicated for the promotion of Indonesian products at the Indonesian Embassy in Cairo during his visit.
Indonesian coffee beans are particularly popular among the Egyptian public, according to the embassy.
“Local coffee shops selling coffee beans from Indonesia are flourishing in various city corners, including Cairo, Alexandria and other cities in south Egypt,” the embassy said in a statement.  
“The interest and buyer inclination in Egypt must be used as a momentum to continue pushing for the marketing and unique quality of Indonesian coffee, while simultaneously promoting other Indonesian products in Egypt.”
Indonesia is the fourth-largest coffee-producing country in the world, and Asia’s second biggest, accounting for about 7 percent of global coffee output.
Egypt was the second-biggest export destination for Indonesian coffee last year, according to data from the Central Statistics Agency, just behind the US.


Trump discussing how to acquire Greenland; US military always an option, White House says

Updated 58 min 25 sec ago
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Trump discussing how to acquire Greenland; US military always an option, White House says

  • Greenland has repeatedly said it does not want ‌to be part ‌of the United States
  • Strong statements ‍in support of Greenland from NATO leaders have not deterred Trump

WASHINGTON: US President Donald Trump and his team are discussing options for acquiring Greenland and the use ​of the US military in furtherance of the goal is “always an option,” the White House said on Tuesday.
Trump’s ambition of acquiring Greenland as a strategic US hub in the Arctic, where there is growing interest from Russia and China, has been revived in recent days in the wake of the US arrest of Venezuelan President Nicolas Maduro. Greenland has repeatedly said it does not want ‌to be part ‌of the United States.
The White House said ‌in ⁠a ​statement ‌in response to queries from Reuters that Trump sees acquiring Greenland as a US national security priority necessary to “deter our adversaries in the Arctic region.”
“The president and his team are discussing a range of options to pursue this important foreign policy goal, and of course, utilizing the US military is always an option at the commander-in-chief’s disposal,” the White House ⁠said.
A senior US official said discussions about ways to acquire Greenland are active in the ‌Oval Office and that advisers are discussing ‍a variety of options.
Strong statements ‍in support of Greenland from NATO leaders have not deterred Trump, ‍the official said.
“It’s not going away,” the official said about the president’s drive to acquire Greenland during his remaining three years in office.
The official, speaking on condition of anonymity, said options include the outright US purchase of ​Greenland or forming a Compact of Free Association with the territory. A COFA agreement would stop short of Trump’s ambition ⁠to make the island of 57,000 people a part of the US.
A potential purchase price was not provided.
“Diplomacy is always the president’s first option with anything, and dealmaking. He loves deals. So if a good deal can be struck to acquire Greenland, that would definitely be his first instinct,” the official said.
Administration officials argue the island is crucial to the US due to its deposits of minerals with important high-tech and military applications. These resources remain untapped due to labor shortages, scarce infrastructure and other challenges.
Leaders from major European powers and Canada ‌rallied behind Greenland on Tuesday, saying the Arctic island belongs to its people.