"Our target export value is US$3.37 billion for 2023. For the 2024 target, we will calculate it later, and of course, we hope we can increase the number again," he remarked on the sidelines of the 55th ASEAN Economic Ministers' (AEM) Meeting in Semarang, Central Java, Tuesday (August 22).
This target is a slight increase as compared to Indonesia's non-oil and gas exports to Australia of US$3.2 billion in 2022.
According to satudata.kemendag.go.id, Indonesia's total non-oil and gas exports to Australia in the first half of 2023 were recorded at US$1.4 billion.
This figure is down as compared to US$1.6 billion recorded during the corresponding period in 2022.
Sambuaga noted that Indonesia and Australia already had in place a Comprehensive Economic Partnership Agreement (IA-CEPA).
The agreement allows entry fees for seven thousand products that can be utilized by micro, small, and medium enterprises (MSMEs) to market their products.
"I think this can be utilized by business actors, our exporters, and MSMEs. This is included in our priority as well," he stated.
On August 21, Indonesia conducted a bilateral meeting with Australia during which the two countries discussed and intensified trade cooperation, including increasing the value of exports.
During the bilateral meeting, Sambuaga and Assistant for Australian Minister for Foreign Affairs, Tim Watts, discussed the IA-CEPA that has provided benefits for the two countries, including the Mutual Recognition Arrangement (MRA) for professional engineers, the addition of the Working-Holiday Visa quota (WHV) to enter Australia, and the opening of Australian universities in Indonesia.
Sambuaga also commended the addition of the WHV quota, which was the result of the IA-CEPA, by 30 percent, from 4,435 to 5,766 people during the 2022-2023 period.
