JABAR EKSPRES – Economic cooperation dominated the discussion in a bilateral meeting between Indonesian Foreign Minister Retno Marsudi and Portuguese Foreign Minister Joao Gomes Cravinho that took place in Jakarta on Monday (7/24).
During the meeting, Retno noted the remarkable growth of Portugal’s investment value in Indonesia, which amounted to 2,000 percent from 2019 to 2022-the highest record achieved by both countries.
“Investment in renewable energy and blue economy were discussed as priority sectors,” Retno said when delivering a joint press statement with the Portuguese Foreign Minister after the meeting.
The two foreign ministers also discussed cooperation in the palm oil sector, with imports of Indonesian palm oil by Portugal increasing by 77 percent from 2019 to 2022, triggered by incentives to import palm oil derivatives as biodiesel feedstock.
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“I appreciate Portugal’s trust in palm oil from Indonesia,” Retno said.
In particular, Retno reiterated Indonesia’s concerns over discriminatory policies imposed by the European Union (EU) including the EU’s anti-deforestation regulation (EUDR).
In the energy sector, she highlighted the commitment and common goals in the development of renewable energy.
Indonesia, he said, welcomed the Portuguese power company Energias de Portugal’s (EDP) floating paradise power project in Duriangkang Reservoir, Batam Islands.
The project, worth a total of US$2 billion, could serve as a catalyst for more Portuguese investment in Indonesia’s renewable energy sector.
On maritime cooperation, the two foreign ministers discussed the contribution of more than 300 Indonesian fishing boat crews to Portugal’s maritime economy.
“We discussed measures to safeguard their interests including through certification and capacity building. We also explored collaboration in the blue economy, fisheries, and efforts to combat IUU fishing,” Retno said.
Based on data from the Indonesian Ministry of Foreign Affairs, in the January-October 2022 period, bilateral trade between Indonesia and Portugal was recorded at 139.5 million US dollars (around Rp2 trillion) with a surplus on the Indonesian side of 80.9 million US dollars (around Rp1.2 trillion).
