Indonesia keen on resolving EAC’s trade imbalance

Indonesian ambassador to Tanzania, Tri Yogo Jatmiko has pledged to trade imbalances within the East African Community (EAC) Partner States.

The envoy further hinted that the Southeast Asia and Oceania country could be a potential gateway for products from the EAC to enter into Association of Southeast Asian Nations (ASEAN) market.

“Indonesia is committed to enhance mutually beneficial trade and investment cooperation with East Africa Community in order to diversify its import and export markets,” said the diplomat when he paid a courtesy call on the East African Business Council (EABC) Chief Executive Officer, John Bosco Kalisa last week.

Mr Jatmiko further Indonesia’s commitment in strengthening more trade among the EAC countries.
“Indonesia is very keen to diversify its commodities for exports much as quality remains as considered factor”, said the envoy.

He decried a lack of exposure among EAC and Indonesian businessmen as the main reason behind low trading volume between the two.

“I would suggest that we establish business matching method that will enhance and make business between us,” he noted.

According to Mr Jatmiko, Indonesia exports to the world surged to $ 94 billion from the initial $9 billion in 2021, following value addition of natural commodities such as rubber, coal and nickel.

Africa accounted for three per cent of the $94 billion exports.

EAC imports from Indonesia hit $635.52million last year while exports $38.89million.

Top imports include vegetable fats and oils, chemical products, paperboard, Iron and steel while those for exportation include Cocoa, Tobacco, Coffee, tea, mate, spices, Raw hides skins and Oil seeds and oleaginous fruits.

In his rejoinder, Mr Kalisa informed the envoy that the EAC was full of trade and investment opportunities
He equally urged the diplomat to choose the regional economic bloc as their “EAC is ever open for business and investors”, he assured the Indonesian envoy.

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