Indonesia Signs Five Trade Contracts with Chile Worth $5.8 Million, Thanks to IC-CEPA

JAKARTADAILY.ID – Indonesian Minister of Trade Zulkifli Hasan is optimistic that Exports to Latin America will increase after the signing of the Indonesia and Chile Comprehensive Economic Partnership Agreement (IC-CEPA).

This was marked by the signing of five business contracts worth $5.8 million or the equivalent of Rp 90 billion for Indonesian Exports to Chile. The signing of the business contract has been carried out in stages on November 15-17, 2022 virtually.

"We welcome the signing of a business contract worth $ 5.8 million by Indonesian and Chilean business actors who take advantage of the opening of the Chilean market under the IC-CEPA scheme. A number of commodities that will be exported in the business contract are cars, ceramic furniture, and food and beverages," said Trade Minister Zulkifli Hasan in a written statement, Tuesday, November 22, 2022.

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Zulkifli Hasan invited Indonesian business actors to be observant in seeing the market opportunities that were opened through this agreement.

"We hope that more business actors will be keen to see the opportunities in the Chilean market and that more and more Indonesian products will eventually circulate in Chile," said Zulkifli Hasan.

The Indonesian companies that entered into trade contracts this time were PT Mitsubishi Motors Krama Yudha Indonesia (PT. MMKI), PT Sango Ceramic Indonesia, PT Kalbe International, Kaya.ID, and PT Kultiva Indonesia Makmur.

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MMKI succeeded in obtaining the first export order to Chile for Xpander and Xpander Cross products through its trading partner, Mitsubishi Motor Corporation for Latin America Region. The automotive sector is one of Indonesia's leading sectors in the utilization of the IC-CEPA scheme.

Furthermore PT. Sango Ceramic Indonesia for export of ceramic tableware products with its trading partner Sodimac, one of the largest household appliance retail companies in Latin America.

Then PT. Kalbe International which is one of Indonesia's largest pharmaceutical companies with ARP Chile SpA for the Extrajoss energy drink product. Furthermore, Kaya.ID is cooperating with Exports with Elbelmen Chile for organic rice products.

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Finally, PT. Kultiva Indonesia Makmur for cooperation in the export of various flavors of healthy snack products with its partner Itochu Chile. The Santiago Indonesian Trade Promotion Center (ITPC) office also facilitated the negotiation process so that business cooperation was produced.

Head of ITPC Santiago Indah Fajarwati said this trade contract is a concrete example of the use of IC-CEPA for business actors. ITPC Santiago is ready to help business people who are interested in developing their market in Latin America, especially Chile.