Monday, 28 April 2025 10:25

Indonesia Opens Export Opportunities to BRICS and CPTPP Countries

On 25 April 2025, during an online press conference, Coordinating Minister for the Economy Airlangga Hartarto announced that to anticipate the impact of the US import tariff policy, Indonesia is opening export opportunities to BRICS (Brazil, Russia, India, China, South Africa) and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) member countries. Indonesia's membership of BRICS and its accession process to the CPTPP will open up the markets of the UK, Mexico and several countries in Latin America. In addition to the BRICS and the CPTPP, Indonesia has set itself the target of finalising the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA). Indonesia will give priority to bilateral and multilateral cooperation with a view to opening new markets.

Furthermore, Finance Minister Sri Mulyani revealed that the import tariffs imposed by the United States have resulted in a decline in shipments of goods between countries. The Ministry of Finance has conducted an analysis to identify commodities with a Revealed Comparative Advantage (RCA) value above one, indicating their competitiveness in global trade. The Ministry will discuss with the Coordinating Minister for the Economy strategies to support national industries with a strong RCA, facilitating their entry into the US market and other international markets.

Source: https://bisnis.tempo.co/read/2000834/indonesia-buka-peluang-ekspor-ke-negara-brics-dan-cptpp

 

 

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