Kadin Confident Indonesia-Uzbekistan Trade Cooperation to Reach US$500 Billion
- VIVA.co.id/Anisa Aulia
Jakarta, VIVA – Chairman of the Indonesian Chamber of Commerce and Industry (Kadin), Anindya Bakrie, stated that Indonesia and Uzbekistan have the potential for trade cooperation worth up to US$500 billion or around IDR 7,500 trillion.
Bakrie explained that, currently, the trade value between Indonesia and Uzbekistan remains very small, amounting to less than US$ 100 million or IDR1.5 trillion.
However, it is estimated that the trade value between the two countries could reach US$500 billion soon.
"The Foreign Minister of Uzbekistan and Minister Sugiono have met and mentioned that, in the near future, at least the (form of cooperation) could reach US$500 billion, possibly even more," Bakrie said on Tuesday (February 11).
Ketua Umum Kamar Dagang dan Industri (Kadin) Indonesia, Anindya Bakrie
- VIVA.co.id/Anisa Aulia
He further elaborated that Indonesia's primary exports to Uzbekistan currently consist of palm oil, electrical equipment, and food products. However, he believes there are still many trade sectors that could be explored between the two nations.
The potential areas of cooperation between Indonesia and Uzbekistan include agriculture, food processing, palm oil, and spices.
"The main sectors for collaboration include agriculture and food processing, utilizing Indonesia's expertise in palm oil, spices, and fisheries, combined with Uzbekistan's strengths in cotton and wheat. Additionally, textiles and apparel are promising areas, with Uzbekistan expanding its exports of high-quality cotton to Indonesia's textile manufacturing industry," Bakrie explained.
Moreover, Indonesia also sees opportunities for cooperation in the healthcare sector. Bakrie views the healthcare industry as having significant potential in the future.
"This includes pharmaceuticals and healthcare, enhancing partnerships to provide affordable and high-quality medicines. I believe this is one of the key sectors for the future," he added.
The Kadin chairman also highlighted that technology and the digital economy offer promising opportunities for Indonesia-Uzbekistan collaboration.
"There’s nothing you can’t achieve in this era of AI, and I’m confident that both countries can collaborate well in this sector," he concluded.
