Bangladesh seeks to lift trade with Indonesia above $10 billion

Bangladesh wants to raise annual trade with Indonesia above $10 billion by expanding exports and removing market barriers, commerce minister Khandaker Abdul Muktadir said at an Oct. 7 meeting with Indonesian deputy foreign minister Mohammad Anis Matta.

Bangladesh imports about $3.5 billion in Indonesian goods annually but exports only about $56 million, Muktadir said.

Both sides discussed reviving negotiations on a Preferential Trade Agreement (PTA), stalled since 2023 over differences concerning duty-free access for Bangladeshi garments.

Muktadir sought simpler drug registration procedures and greater access for pharmaceuticals, vaccines, and potatoes. Matta welcomed a proposed exhibition of Bangladeshi pharmaceuticals in Jakarta.

Discussions also covered energy cooperation and mutual recognition of halal certification. Matta proposed a ministerial meeting during an Indonesian trade exhibition scheduled for Oct. 14-18.