Minister of Trade Zulkifli Hasan is optimistic that the trade target between Indonesia and New Zealand will reach USD 2.45 billion by 2024. This statement was made during a bilateral meeting with New Zealand’s Minister for Building and Construction, Minister for Land Information, Minister for Veterans, Associate Minister for Defence, and Associate Minister for Immigration, Chris Penk, in Peru. Zulkifli noted that achieving this target requires both countries to eliminate trade barriers and enhance economic cooperation. "Indonesia is optimistic that the trade target of USD 2.45 billion can be achieved in 2024 through strengthened economic cooperation," he stated in Jakarta on Sunday. In 2023, the total trade value between the two countries was USD 1.7 billion, a decrease of 18.8% compared to 2022, largely due to fluctuations in global commodity prices. During the meeting, Zulkifli urged New Zealand to close the World Trade Organization (WTO) Dispute Settlement Body (DSB) Case DS 477 concerning the importation of horticultural products, animals, and animal products.
The Indonesian government has adjusted regulations in accordance with the DSB WTO recommendations. Additionally, both parties discussed regional issues, including the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) and the Regional Comprehensive Economic Partnership (RCEP), which has been in effect in Indonesia since January 2, 2023. Indonesia requested New Zealand's support for the ratification of Protocol 2 of AANZFTA to enable its implementation this year. "New Zealand also anticipates the full operation of the RCEP Secretariat this year. We urge New Zealand to assist in finalizing the RCEP accession procedures promptly," Zulkifli added. Furthermore, Zulkifli highlighted Indonesia’s push for cooperation on importing live cattle from New Zealand, with New Zealand agreeing to follow up on Indonesia’s request to meet domestic regulations. The total trade between Indonesia and New Zealand from January to March 2024 was USD 409 million. During this period, Indonesia's exports to New Zealand amounted to USD 153.3 million, while imports from New Zealand totaled USD 255.7 million. Indonesia's main exports to New Zealand include oilcake, TV applications, facial and toilet tissues, coal, and wood. Meanwhile, major imports from New Zealand consist of milk with sugar, butter, flour, cheese, and casein.
