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Argentina and Indonesia: diplomatic and economic ties

Bilateral trade
Indonesia is Argentina’s fourth-biggest export destination in Asia, after economic giant China, and Vietnam and India. Symmetrically, the Latin American country is the region’s second-biggest importer of Indonesian goods, after its neighbour Brazil. Two-way trade between the two countries reached US$1.7 billion in 2018 and key products moving between the nations include:- Indonesian exports of footwear and rubber-based products
- Argentinian exports of cereals and animal feed.
Recent regional developments

- Tourism
- Industry networking and interaction
- Primary and secondary education
- Technology and science
- Anti-drug trafficking
- Natural disaster management
- Humanitarian aid
- Peace-keeping operations.
Weathering a trade war
Seeking shelter from a potential trade disputes between key partners the US and China, Argentina and Indonesia agreed in May this year to double the value of their two-way trade. In a bid to diversify trade relations and secure alternative export destinations, a series of Ministerial Meetings in Buenos Aires between Indonesian Trade Minister, Enggartiasto Lukita, and Argentinian officials and business contacts concluded with a ‘trade target’ for the two countries. Trade Minister Lukita says “the two countries have great potential that has not been explored so far. Indonesia and Argentina are also regional market hubs in ASEAN and MERCOSUR.” As Southeast Asia’s largest economy, Indonesia carries influence and opportunity in regional trade blocs such as ASEAN. Likewise, Argentina’s standing as fourth-largest economy in Latin America, ad membership to economic power MERCOSUR is a great access point to the rest of the region for Indonesia.Opportunities for business

Wider Asia-LATAM relations
Connections between Asia and Latin America have historically been sparse. For years, Japan was the most commercially connected Asian economy in Latin America. With China’s explosive economic growth, the giant displaced Japan in 2002 as Latin America’s main trading partner. Chinese and Japanese foreign direct investment continue to lead that coming from Asia. Slowly but surely, market observers are seeing an increasing number of engagements between other players such as South Korea and Indonesia. Under China’s Belt and Road Initiative, further inter-connectedness lies neatly in the hands of Latin American governments willing to sign on to proposed infrastructure projects and investment by the Asian giant.What’s on the horizon?
Globalisation inevitably breaks down borders and barriers to trade for regions, even those battling the ‘tyranny of distance.’ Economic powerhouses Argentina and Indonesia aim to build greater support networks for their exports to tie loose ends. To achieve their ambitious trade target, they’re ready to support businesses looking to bridge gaps and make commercial connections. Their symmetry as developing countries in the shadow of regional giants could be mutually beneficial for furthering shared interests and promoting commercial opportunities in international fora. Consider the advantages of making connections with your Indonesian or Argentinian business early, and fully utilize government backing to meet your business needs along the way.Biz Latin Hub can help you with doing business in Argentina
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Contact us today to find out more about how we can assist you in finding top talent, or otherwise do business in Latin America and the Caribbean. If this article on trade between Indonesia and Argentina was of interest to you, check out the rest of our coverage of the region. Or read about our team and expert authors.

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