PALMOILMAGAZINE, GQEBERHA — Indonesia’s Minister of Trade, Budi Santoso, met with South Africa’s Deputy Minister of Trade, Industry, and Competition, Zuko Godlimpi, on the sidelines of the G20 Trade and Investment Ministerial Meeting (TIMM) in Gqeberha on Friday (October 10, 2025). The meeting focused on deepening economic and trade cooperation between the two nations, including the development of micro, small, and medium enterprises (MSMEs).
“This meeting marks an important step in strengthening economic relations within the framework of South–South cooperation. We agreed to follow up with concrete initiatives in trade collaboration and MSME development,” Minister Budi said in an official statement quoted by beige-heron-208544.hostingersite.com, Monday (October 13, 2025).
A key point of discussion was the revitalization of the Indonesia–South Africa Joint Trade Committee (JTC), last held in Pretoria in 2017. Established in 2005, the JTC serves as a platform for information exchange and exploring potential trade agreements.
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Minister Budi proposed that the fourth JTC meeting be hosted in Indonesia to discuss strategies for strengthening trade, investment, and industrial cooperation. “The JTC is crucial for addressing opportunities and challenges in bilateral trade. We hope the fourth JTC can be held soon to make Indonesia–South Africa economic cooperation more concrete,” he said.
In addition to the JTC initiative, Indonesia proposed the start of step-by-step trade agreement negotiations. South Africa welcomed the proposal and encouraged Indonesia to submit a formal cooperation framework draft soon.
As a key trading partner in Africa, South Africa plays an important role in expanding Indonesia’s export market. Minister Budi highlighted that enhanced cooperation would help boost exports of leading Indonesian commodities—especially palm oil and its derivatives, which remain major exports to the country. Other top exports include natural rubber, copra, motor vehicles, and bulldozers.
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“We appreciate South Africa’s commitment to deepening economic ties with Indonesia. This synergy will open broader opportunities for businesses in both nations,” said Minister Budi.
From January to August 2025, total trade between Indonesia and South Africa reached USD 1.42 billion, consisting of USD 690.6 million in exports and USD 732.1 million in imports. In 2024, total trade was recorded at USD 2.41 billion, marking a 7.2 percent increase compared to the previous year.
Indonesia’s main imports from South Africa include ferroalloys, chromium ore, manganese ore, raw aluminum, and cane sugar or pure sucrose. With growing trade prospects, both countries are optimistic that this partnership will evolve into a more inclusive and mutually beneficial economic cooperation. (P2)
