Malaysia-Indonesia trade relations robust

KUALA LUMPUR: MalaysiaIndonesia trade relations are robust with total trade amounting to RM95.10 billion (US$22.93 billion) in 2021, increasing by 43.5 per cent from 2020.

The Malaysia External Trade Development Corporation (Matrade) director of Asean and Oceania Raja Badrulnizam Raja Kamalzaman said Indonesia was Malaysia’s seventh largest trading partner globally while within Asean, Indonesia was its third largest trading partner.

“Total exports also recorded an increase of 32.5 per cent to RM39.22 billion (US$9.45 billion) while total imports increased by 52.3 per cent to RM55.88 billion (US$13.47 billion) from 2020,” he said during the keynote address at the Business Strategy Analysis Indonesia Conference 2022 at Matrade Exhibition & Convention Centre yesterday.

The three-day event from yesterday until Sept 29 brings together industries such as green energy, palm oil, oil and gas, food and beverages, pharmaceuticals, cosmetics, Internet of things, home furniture, coals and minerals, training and education, manpower, machineries, industrial/special economic zones development, tourism and construction materials.

Total exports also recorded an increase of 32.5 per cent to RM39.22 billion (US$9.45 billion) while total imports increased by 52.3 per cent to RM55.88 billion (US$13.47 billion) from 2020.

Raja Badrulnizam Raja Kamalzaman

Organiser Axon Consultancy Sdn Bhd managing director Low Jiun Jack said the event is designed to deliver services beyond conferences.

“Indonesia is our first focused country for immediate business strategy planning and implementation and our aim for this programme is to provide a platform to all participants to develop businesses beyond boundaries.

“Indonesia have a lot to offer to Malaysian businesses such as solar streetlighting. I forecast RM30 million worth of exports within the year 2022 until 2023,” he told Bernama after the event.