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Indonesia says business deals with PH from Marcos' state visit 'ongoing'

Published Mar 27, 2023 06:25 am
The Philippines and Indonesia are now working on some economic cooperation deals that were brokered during a meeting between President Ferdinand "Bongbong" Marcos Jr. and President Joko Widodo in Jakarta in September 2022. According to the Indonesian Embassy in Manila, several business deals were "ongoing" as the two sides are following up on some partnerships agreed upon during Marcos' state visit to Indonesia. These included those in the "infrastructure and transportation development, economic creative and energy fields," the embassy told Manila Bulletin on Monday. In September, Malacañang said Marcos bagged about $8.5 billion worth of investment deals during his first ever state visit as the country's leader. It could translate to at least 7,000 new jobs, which, the President said, could be felt immediately. Meanwhile, Indonesia's fertilizer exports to Manila increased in 2022 as Marcos, who is concurrent Department of Agriculture (DA) chief, sought for fertilizers, particularly Urea, from the Asian neighbor. "Indonesia has been exporting it to the Philippines both before and after the state visit of the Filipino President to Indonesia," the embassy said. "In 2022, Indonesia's fertilizer exports to the Philippines amounted to US$133.41 million, representing an increase of 24.3 percent from the previous year's US$107.30 million," it added.

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