Indonesia sought to buy more agri products from PH
Agriculture Secretary Emmanuel Piñol said the agricultural trade negotiations between the Philippines and Indonesia will today to correct the trade imbalance that greatly favors Indonesia.
As of now, Indonesia exports $1-billion worth of agricultural products to the Philippines mainly palm oil, while allowing only a measly $50-million worth of exports from the Philippines.
The restrictive export requirements of Indonesia have made it difficult for Philippine Agricultural products to enter the country, Piñol pointed out.
“The Philippines used to export a huge volume of horticultural products to Indonesia, including Shallots and Tobacco. Restrictive import policies imposed by Indonesia, however, tilted the trade balance in favor of Indonesia,” he said.
The Philippine team composed of negotiators from the International Affairs Division of the Department of Agriculture flew to Jakarta yesterday for the two-day negotiations, which will start today.
The team aims to drastically correct the trade deficit of about $950-million by convincing Indonesia to ease up on its export protocols.