Jakarta (ANTARA) - Indonesian Trade Minister Budi Santoso met with Timor-Leste Deputy Prime Minister Francisco Kalbuadi Lay in Tangerang on Thursday to discuss strategies for expanding and diversifying bilateral trade between the two neighboring nations.
The bilateral meeting took place on the sidelines of the 41st Trade Expo Indonesia at the Indonesia Convention Exhibition (ICE) BSD.
"We are eager to diversify trade by strengthening collaboration among business players and broadening market access for leading products from both countries," Santoso said in a statement released Friday.
He welcomed the growing economic ties and expressed hope for deeper cooperation to unlock new commercial opportunities.
Lay noted that Timor-Leste is actively identifying international trade opportunities following its recent accession to the Association of Southeast Asian Nations (ASEAN).
He highlighted the vast potential remaining for trade and investment collaboration.
"We are ready to facilitate partnerships among business actors in a bid to drive mutually beneficial and sustainable economic growth," Lay said.
Indonesia stands as Timor-Leste's largest trading partner within ASEAN. Total bilateral trade reached $423.63 million in 2025, representing roughly 76 percent of Timor-Leste's overall trade volume with ASEAN member states.
The growth momentum has continued into 2026.
From January to August, trade between the two countries reached $273.86 million, up 1.59 percent compared to the same period last year.
Indonesia maintained a dominant position, recording a trade surplus of $260.85 million over the eight-month period.
Indonesia's main exports to Timor-Leste include motorcycles, freight vehicles, cement, alumina, processed palm oil, and pasta.
Imports from Timor-Leste primarily comprise self-propelled bulldozers alongside agricultural goods such as coffee, copra, grains, and vanilla.
Translator: M. Cicilia, Tegar Nurfitra
Editor: Aditya Eko Sigit Wicaksono
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