Indonesia, New Zealand aim for 3.6 bln USD in bilateral trade by 2029
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
Minister of Trade, Budi Santoso (right), and New Zealand Minister of Trade and Investment, Todd Michael McClay (left), during a bilateral meeting in Jakarta on August 7. (Photo: ANTARA)
Jakarta (VNA)🌠 - Indonesia and New Zealand are aiming to boost bilateral trade to 6 billion NZD (3.6 billion USD ) by 2029, marking an increase from the 2024 target of 4 billion NZD, according to Antara News.
Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto said on August 8 that the cooperation has been outlined in the 2025–2029 Indonesia-New Zealand Comprehensive Partnership Plan of Action.
He confirmed that the trade cooperation was among the topics discussed with New Zealand’s Minister for Trade and Investment Todd McClay during a recent meeting.
The two countries pushed for the immediate implementation of the action plan to strengthen mutually beneficial collaboration in the trade and investment sector.
Both leaders highlighted the importance of resolving issues surrounding horticultural products, animals, and animal products imports, which are currently being addressed at the World Trade Organisation (WTO).
By resolving these problems, Indonesia and New Zealand can focus on other strategic initiatives, allowing for better economic cooperation, Hartarto added.
To boost food security and fulfill national nutritional needs in a sustainable way, the Indonesian government also urged New Zealand to extend its investment in the dairy processing sector, the coordinating minister informed.
Minister McClay conveyed the capability and readiness of New Zealand companies to meet those needs on a consistent basis.
He also expressed his support for Indonesia’s accession to the Organisation for Economic Co-operation and Development (OECD) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
This is expected to improve Indonesia’s efforts toward economic reform, as well as enhance the country’s strategic position on a global scale.
The two ministers also discussed deregulation across various sectors in Indonesia. The Indonesian government is aiming to provide a legal framework to support ease of doing business through policy reforms, and thereby make national industries more competitive in the future.
Hartarto said this is part of the government’s real efforts to promote ease of doing business across Indonesia.
Total trade between the two countries in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD./.
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