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Bloomberg
Indonesia is going all out to strike trade pacts with about a dozen countries and blocs as US-China trade war hurts its shipments and threatens to worsen a current-account deficit.
The urgency to seal as many trade pacts as possible stems from the need to reverse a slump in exports in the past three months, which sent the nation’s trade deficit to a record last year.
Besides simplifying export procedures and ensuring efficient logistics, the government is leaning on diplomacy to secure preferential tariffs, access to non-traditional market and cheaper export financing, Susiwijono Moegiarso, secretary at the Coordinating Ministry for Economic Affairs at Indonesian government said.