Indonesia, Argentine form WGTI to intensify trade cooperation

JAKARTA, Jun 26, 2019, ANTARA. Indonesia and Argentine have established a Working Group on Trade and Investment (WGTI) in an initial endeavor to boost bilateral trade cooperation between both nations. “At this forum, we could exchange information. Both these countries are located far from one another, as one is in America, while the other lies in Southeast Asia. Hence, they do not know each other well, and not much information has been disseminated,” Ni Made Ayu Marthini, the Trade Ministry’s bilateral trade director, noted here on Wednesday, reported the ANTARA.

The working group will act as a forum for communication, promotion, and facilities for the two countries, she explained.

The two governments have encouraged businesspersons from both nations to take part in different business events organized in both nations.

When the three functions work, WGTI will issue recommendations regarding future activities.

The recommendations will serve as a basis for establishing a free trade agreement (FTA) – Comprehensive Economic Partnership Agreement (CEPA).

For a trade agreement with Argentine, Indonesia must initially forge multilateral cooperation with the economic and political block Mercosur that groups Brazil, Venezuela, Paraguay, Uruguay, and Argentine.

Argentine President Mauricio Macri, accompanied by First Lady Juliana Awada, paid a state visit to Indonesia on Wednesday.

President Joko Widodo (Jokowi) and First Lady Iriana welcomed Macri and Awada at the Bogor Palace before holding a one-on-one meeting.