Thu, 08 Jul 2010

Jakarta (ANTARA News) - Indonesia expects its trade with Turkey to double to five billion US dollars in the next two years.

"Our trade volume in 2008, before the crisis, reaches 2.1 billion US dollars. The target for the next two years is it will double," trade minister Mari Elka Pangestu said here on Wednesday.

She said she did not use the 2009 trade figures as the basis for setting the target because exports and their value dropped in the year due to crisis.

In 2009 the value of the country`s trade with Turkey was recorded at 1.2 billion US dollars.

Mari said the government would intensify its efforts to increase trade and investment relations between the two countries to meet the target.

The government, she said, is currently conducting a joint study with Turkey to explore the possibility for the two countries to establish a free trade agreement.

She said efforts to boost trade relations with Turkey would also be done by sending trade missions to that country.

She said after visiting Turkey on June 28-30 President Susilo Bambang Yudhoyono had asked for a regular ministerial-level meeting between the two countries to discuss further the follow-up of the meetings he had done during the visit.

"Such as regarding palmoil exports to that country. The market share of our palmoil exports is 25 percent while Malaysia 75 percent. We can still boost our exports to Turkey," he said.

She said Turkish businessmen were also interested in investing their capital in various sectors in Indonesia including geothermal and renewable energy sectors, construction and infrastructure.

According to data of the trade ministry Indonesia`s total trade value with Turkey continued to rise from 2005 to 2008.

In 2005 the value was recorded at US$634.7 million up to US$802.9 million in 2006, US$1.8 billion in 2007 and US$2.1 billion in 2008 but was down to US$1.2 billion in 2009. From January to April, 2010 the value reached US$409.7 million.(*)