COORDINATING MINISTRY FOR ECONOMIC AFFAIRS
REPUBLIC OF INDONESIA

PRESS RELEASE
HM.4.6/152/SET.M.EKON.3/05/2023

On the sidelines of the ASEAN Summit, Coordinating Minister Airlangga Discusses Strengthening Palm Oil and Rubber Cooperation with the Malaysian Minister of Investment, Trade, and Industry

Labuan Bajo, May 10th, 2023

Indonesia's economic growth in the first quarter of 2023 was recorded at 5.03% (yoy) whereas the agricultural sector grew by 4.73% (yoy). Meanwhile, the Agriculture, Forestry, and Fisheries sectors contributed 0.04% of national GDP growth. The performance of this sector is shown by the achievement of an export value of USD 1.09 million and contributing 1.62% to total exports during the first quarter of 2023.

Indonesia continues to enhance bilateral cooperation to boost exports and support the national economy. Coordinating Minister for Economic Affairs Airlangga Hartarto held a bilateral meeting with Malaysian Minister of Investment, Trade, and Industry Tengku Zafrul Aziz on the sidelines of the 42nd ASEAN Summit, on Wednesday (10/05) in Labuan Bajo. The meeting discussed bilateral cooperation between Indonesia and Malaysia, especially in the commodity sector such as palm oil and rubber.

Previously, the Coordinating Minister Airlangga met with the Deputy Prime Minister and Minister of Plantations and Commodities of Malaysia YAB Dato' Sri Haji Fadillah bin Haji Yusof in February 2023 to discuss cooperation to overcome discrimination against palm oil. During the meeting, the Coordinating Minister Airlangga also discussed the possibility and strategy for expanding membership of the Council of Palm Oil Producing Countries (CPOPC) shortly.

At this meeting, the two Ministers agreed to support each other in policies and negotiations concerning the export of palm oil commodities and their derivatives, as well as increasing cooperation within the CPOPC framework.

Also present to accompany the Coordinating Minister Airlangga was the Minister of Trade, the Secretary of the Coordinating Ministry for Economic Affairs, the Deputy for International Economic Cooperation of the Coordinating Ministry for Economic Affairs, and the Director General of International Trade Negotiations at the Ministry of Trade. (dep7/dlt/map/fsr)

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Head of Communications, Information Services, and Meetings Bureau
Coordinating Ministry for Economic Affairs of the Republic of Indonesia
Haryo Limanseto

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