Indonesia-Brazil discuss economic cooperation enhancement in bilateral consultation forum

Jakarta (Indonesia Window) – Indonesia and Brazil discussed the enhancement of cooperation in the economic sector in several fields at the seventh bilateral consultation forum which was held on Wednesday (Dec 16).

In that forum, Indonesia and Brazil agreed to continue to increase cooperation in trade and investment, as well as defense.

The two countries also discussed a number of issues of mutual concern, among others, the impact of the COVID-19 pandemic on the global economy and the vital role of the digital economy and green economy, especially reducing greenhouse gas emissions and fossil fuels dependence during the pandemic.

The meeting specifically noted a number of initiatives that the two countries need to boost, one of which is strengthening the strategic partnership by emphasizing a modern and flexible approach.

It was made by mapping the areas of interest and aspirational goals of the two countries.

Indonesia and Brazil also agreed to explore cooperation in the field of biofuels by taking advantage of Brazil’s position as the second largest ethanol producer in the world and Indonesia’s biodiesel production from palm oil commodities.

Regional and global issues were also discussed by the two parties, including the ASEAN outlook on the Indo-Pacific, negotiations on trade agreements between Indonesia and MERCOSUR (South American trade bloc), the Regional Comprehensive Economic Partnership (RCEP), and Indonesia-Latin America and the Caribbean (INA-LAC) business forum.

Indonesia and Brazil tied diplomatic relations in 1954, while the strategic partnership cooperation between the two countries was established in 2009.

Reporting by Indonesia Window