Indonesia has assured that it would address its trade “gap” with India due to certain restrictions it had imposed on imports of goods. This includes measures like reduced tariffs on sugar sourced from India.

 

At the same time, Indonesia has sought “parity” with Malaysia on duties levied on its exports of palm oil to India, where it is currently suffering a five per cent disadvantage. “Commerce and Industry Minister assured that he will take up this issue with the concerned ministry,” stated a release following a meeting between Commerce Minister Piyush Goyal and Indonesian Trade Minister Enggartiasto Lukita Tuesday. “The Indonesian side also assured India that it will facilitate sourcing of sugar from India by reducing tariffs and regularising standards as per India’s requirement,” it added.

 

In 2018-19, India had a $10.57 billion trade deficit with Indonesia, which is its second largest trading partner in the ASEAN region after Singapore.

 

During the bilateral meet, Goyal raised concerns over import quota restrictions faced by Indian auto and auto component industries on tyres and completely built-up units (CBU) in Indonesia, which has “adversely” impacted Indian exports. “Indonesian Minister assured Piyush Goyal that he would address this gap,” the ministry said.