Indonesia and Lithuania Seek Ways to Bolster Bilateral Trade

The bilateral trade between Indonesia and Lithuania rose almost 43% year-on-year in the first half of 2023.

IDXChannel - The bilateral trade between Indonesia and Lithuania rose almost 43% year-on-year in the first half of 2023.

"However, our bilateral trade volume has not reflected its true potential," Indonesian Foreign Minister Retno Marsudi during a meeting with her Lithuanian counterpart, Gabrielius Landsbergis, in Jakarta on Monday (30/10/2023).

"To bolster our two-way trade and ensure a more balanced trade, I sought Minister Landsbergis’ support in facilitating more Indonesian products to enter Lithuanian market, including for rubber, paper and wood-based furniture," she continued.

During the meeting, Retno welcomed Indonesian palm oil becoming one of the top export commodities to Lithuania. 

"With nearly 800 plantations in Indonesia already receiving ISPO Certification," she explained. 

"I believe that Indonesia can provide more sustainable palm oil to Lithuania and to the greater European market," she stated.

In this effort to forge closer B-to-B engagement, Retno also welcomed the memorandum of understanding (Mou) signing between KADIN, Indonesia Chamber of Commerce, and the Confederation of Lithuanian Industries on Monday afternoon.

"On investment partnership, I appreciate Lithuanian aviation industry’s expanded investment in Bali Ngurah Rai Airport and their new charter airlines and freight services," she added. (WHY)