Trade Minister: IPBA to Boost Indonesia-Philippines Trade and Investment

Trade Minister Budi Santoso inaugurated the Indonesia-Philippines Business Association (IPBA) in Cebu, Philippines, to promote trade and investment between the two countries. Budi stated that the presence of the association marks a new chapter in strengthening the economic synergy between Indonesia and the Philippines, which has been established for 75 years. “It is hoped that IPBA will become a strategic gateway for businesses from both countries, which can drive trade, investment, and closer business partnerships,” Budi said in a statement in Jakarta on Saturday. The formation of this association was initiated by the Trade Attaché (Atdag) in Manila since mid-2024. According to Budi, IPBA is present to expand business networks and optimise the utilisation of trade cooperation between the two countries, thereby driving an increase in total trade. With the new platform encompassing Indonesian and Philippine businesses, it is hoped that it can advocate for businesses regarding trade barriers so that the flow of trade between the two countries continues to increase. “Trade diversification will make us more resilient in facing global challenges,” he said. This association will support the promotion of Indonesian products through the implementation of trade missions, business forums, and business matching activities that bring together businesses with potential buyers, distributors, importers, or Philippine investors. The Philippines is one of Indonesia’s main trading partners, ranking eighth as an export destination country with a total export value in 2025 of $10.22 billion. Indonesia ranks fourth as a main supplier country for Philippine imports. Several products with potential to be marketed in the Philippine market include metal products, metal ore concentrates, and vegetable oils. This shows that Indonesia holds an important position for the Philippines.