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Trade and economic cooperation between Ukraine and Indonesia
20 February 2020 20:01

The Republic of Indonesia remained to be one of the biggest trade partners of Ukraine in the region of Southeast Asia.

Economic cooperation between Ukraine and Indonesia is regulated by the Agreement on Economic and Technical Cooperation (1996), the Trade Agreement (1996), the Agreement on Promotion and Protection of Investments (1996), the Agreement on Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to taxes on income (1996), the Agreement on Cooperation between the Chambers of Commerce (2009) and the Agreement on Cooperation in the Field of Agriculture (2016), Protocol between the State Service of Ukraine on Food Safety and Consumer Protection and the Indonesian Agriculture Quarantine Agency under the Ministry of Agriculture of the Republic of Indonesia on Cooperation in the Field of Plant Quarantine and Protection (2018).

The main directions of bilateral trade-economic and scientific-technical cooperation were formulated during sessions of the Intergovernmental Ukrainian-Indonesian Commission on Economic and Technical Cooperation (2005, 2009; Third Session was held on 21-22 February 2018).

According to Ukraine’s statistics, the bilateral trade turnover between Ukraine and Indonesia in 2018 amounted to 876 million USD and increased compared to 2017 by 33%. Exports amounted to 616,2 million USD and increased by 55% while imports reduced by 0,3% and amounted to 259,8 million USD.

Ukrainian exports to RI, mostly represented by agricultural and metallurgical goods. Ukrainian import of RI consists mainly of palm oil, products of electronic industry, cocoa, footwear, paper and cardboard.

According to the Ukrainian statistics data, bilateral trade turnover in January-October 2019 increased by 34% and amounted to 859 million USD. The volumes of Ukrainian exports grew by 49% and equalled 617,5 million USD. Imports increased by 7% to 241,5 million USD. As a result in January-October 2019, Ukraine has a positive balance of 376 million USD. 

The most promising areas for bilateral trade and economic cooperation are: agricultural (supply of wheat, corn, egg powder, wheat flour, fresh fruits and other agricultural products), engineering (mining, gas pumping equipment), steel (technology and equipment for steel plants), military-technical (supply and repair of military equipment and weapons, as well as transfer of technology), energy (supplying of turbines, generators, transformers for thermal and hydroelectric power) and pharmaceutical.

Bilateral trade turnover between Ukraine and RI for the last five years.  

Economic indicator

Year                                                           

Data of State Statistics Service of Ukraine,

mln, USD                         

Data of State Statistical Agency of RI,

mln, USD

Turnover

2019 (January-October) 859 974,2
2018

876

1055,3

2016 

658 836,6
2017  593 872,6
2015 354,7 525,2

2014

440,9

657,4

Export from Ukraine to RI

2019 (January-October) 617,5 771,1
2018 616,2 822,8
2017 397,4 539,7
2016 366,3 562,3
2015 185,9 197,7

2014

168,3

298

Import from RI to Ukraine

2019 (January-October) 241,5 203,1
2018  259,8 232,5
2017  260,7 296,9
2016         226,7 310,3
2015 168,8 327,8

2014

272,6

359,4

Information regarding the bilateral trade turnover provided by State Statistics Service of Ukraine and State Statistical Agency of the Republic of Indonesia vary due to different types of statistical analysis methods (Indonesian side considers the origin of the goods, while Ukrainian side - accounts state registration of the subjects of business transactions).

Business appeals to the Embassy of Ukraine in the Republic of Indonesia for providing assistance should be filled in accordance with the following forms of commercial / investment proposals and sent to the email: emb_id@mfa.gov.ua or fax: +6221-250-08-02.

It is recommended to send a presentation or/and information materials softcopy along with the commercial/investment form in the English or Bahasa language.


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