Indonesia Ready to Increase Palm Oil Exports to Morocco

    Marcheilla Ariesta, Christopher Harindra - 28 Oktober 2019 17:16 WIB
    Indonesia Ready to Increase Palm Oil Exports to Morocco
    Illustration ( Deviyana)
    Jakarta: Foreign Minister Retno Marsudi urged Indonesia and Morocco to immediately formulate a preferential trade agreement (PTA). 

    This statement was conveyed during a bilateral meeting between the Indonesian top diplomat and Moroccan Foreign Minister Nasser Bourita in Jakarta on Monday, October 28, 2019.

    "We hope that the negotiations can be started before the end of this year. With the PTA, tariff barriers can be removed," Retno said, Monday, October 28, 2019.

    Retno also highlighted Indonesia's readiness to supply palm oil, tea, and coffee for Morocco's market. The Indonesian government also offered other top Indonesian products, including textiles, rubber, shoes, electronics and furniture.

    Retno also informed that halal industry can also be part of the economic cooperation of the two countries. Retno revealed Indonesia's halal industry reached USD2.1 trillion in 2017. 

    It is estimated that this figure will increase to USD3 trillion in 2023.

    "I specifically invited Morocco to participate in the Halal Summit in November 2020," he added.

    On this occasion, Retno also promoted the readiness of Indonesian SOEs to build infrastructure and transportation in Morocco, especially for roads, bridges, railroads, and housing.

    There were four memorandums of understanding (MoU) signed at the meeting of the two ministers. First, the signing of the MoU on Maritime and Fisheries Cooperation; MoU of Industry, Investment, Trade, and Digital Economy; MoU on Counterterrorism Cooperation; and the MoU on Financial Intelligence Information Related to Money Laundering and Funding of Terrorism.


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