Indonesian Trade Minister Agus Suparmanto is expected to visit India next month to hold further talks on enhancing trade after a meeting in Davos on Thursday. FMTNews OilPalm India Indonesia
Indonesia, the world’s biggest palm oil producer and exporter, is expected to be the biggest beneficiary of India’s row with Malaysia.
India has effectively halted imports of refined palm oil from Malaysia since early January in retaliation for Malaysia’s accusation that recent Indian policies discriminate against Muslims. The trade ministers of India and Indonesia, which want to double their bilateral trade to US$50 billion by 2025, met in Davos on Thursday and agreed to fast-forward trade between them, one of the informed sources said.
An Indian government document, reviewed by Reuters, said that Indonesia had “informally agreed” to double the annual quota for Indian bovine meat exports to 200,000 tonnes. A spokeswoman for Indonesia’s trade ministry had no immediate comment. An Indian trade ministry spokeswoman did not immediately reply to a request for comment.
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