CAPE TOWN: Indonesia and South Africa have agreed to boost cooperation on co-production and marketing, as well as to step up investment particularly in infrastructure, energy, strategic industry and manufacturing industry.
It was agreed in a bilateral meeting between Indonesian Foreign Minister Retno Marsudi and South African International Relations and Cooperation Minister Maite Nkoana-Mashabane on the sidelines of the World Islamic Economic Forum (WIEF), Tuesday, August 2, 2016. In addition, Retno also expressed Indonesia’s support to the 3rd Meeting of Joint Trade Committee in South Africa. Retno sees the forum as an avenue to help to further develop trade between the two countries.
“The two countries have good trade cooperations. South Africa is Indonesia’s second largest trade partner in Africa,” Retno said. She explained that in 2015 trade volume between Indonesia and Africa stood at US$898 million, wherein Indonesia posted a surplus of US$434.19 million. Indonesia’s main exports to South Africa are motor vehicle, rubber, footwear, tires and paper. Whereas its main imports from South Africa are pulp, sugar, aluminum, iron, steel, cotton and machinery.
Retno also noted that in 2015 Indonesia saw US$1.8 million foreign direct investment (FDI) inflow from South Africa. South Africa is the only African country to have a strategic partnership with Indonesia, which was agreed upon in a Joint Declaration on a Strategic Partnership for a Peaceful and Prosperous Future Between the Government of the Republic of Indonesia and the Government of the Republic of South Africa on March 17, 2008.
