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Bangladesh Seeks to Reduce Trade Deficit with Indonesia and Target $10 Billion Bilateral Volume

Commerce Minister Khondokar Abdul Muktadir Meets Indonesian Vice Foreign Minister Mohammad Anis Matta; Urges Progress on Stalled PTA, Pharma Access, and Agricultural Exports

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Staff Reporter

Staff Reporter • 7 Oct • 2 min read

Bangladesh Seeks to Reduce Trade Deficit with Indonesia and Target $10 Billion Bilateral Volume
Commerce Minister Khondokar Abdul Muktadir meeting with Indonesian Vice Foreign Minister Mohammad Anis Matta at the Ministry of Commerce in Dhaka on Wednesday.

Bangladesh is targeting a bilateral trade volume of over USD 10 billion with Indonesia while seeking strategic interventions to narrow a massive USD 3.44 billion trade deficit currently heavily skewed in Jakarta's favor.

The trade dynamics were discussed during a high-level bilateral meeting between Commerce Minister Khondokar Abdul Muktadir and visiting Indonesian Vice Foreign Minister Mohammad Anis Matta at the Ministry of Commerce in Dhaka on Wednesday (October 7, 2026). Minister Muktadir noted that out of the total annual bilateral trade volume of nearly USD 4 billion, Bangladesh imports roughly USD 3.5 billion worth of commodities from Indonesia while exporting only USD 56 million. To address the imbalance, Bangladesh urged Indonesia to resolve market access barriers for ready-made garments (RMG), pharmaceuticals, vaccines, and agricultural products like potatoes. Discussions also highlighted expediting the long-pending Preferential Trade Agreement (PTA) and Comprehensive Economic Partnership Agreement (CEPA), alongside mutual recognition of halal certifications and energy sector collaboration—including coal imports and Indonesian state firm Pertamina's proposal to manage Bangladesh's Single Point Mooring (SPM) terminal. Vice Foreign Minister Matta welcomed a proposal to hold a single-country pharmaceutical exhibition in Jakarta and invited the Commerce Minister to the International Trade Exhibition in Indonesia from October 14–18. Indonesian Ambassador Listyowati and senior ministry officials were also present.

— Daily Best News Desk • Fearless in the search for truth

Reported by Staff Reporter • Edited by the Daily Best News desk. Send corrections to [email protected].

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