Trade with Indonesia Growing and Prospects Good for further Growth

Latest trade statistics show that trade with Indonesia has grown in the year to June 2006 by $127 million says Trade Minister Phil Goff.

"This increase takes our total bilateral trade with Indonesia to $1.1 billion annually, making Indonesia the eleventh largest market for New Zealand goods worldwide and our largest export market in ASEAN", said Mr Goff.

"The growth can primarily be attributed to strong performances by dairy products which are up 12 percent on last year, timber which is up 157 percent, beef which is up 31 percent and chemical wood pulp products which are up 52 percent.

"These increases coincide with an increased visibility of many New Zealand products in upmarket Jakarta supermarkets.

"This is a great result for exporters to Indonesia and shows the value of focusing on large, growing economies where there is constant and rising demand for the high quality products New Zealand producers can deliver.

"The Indonesian economy is growing at just over 5 percent and there are good prospects for continued export growth in existing commodities and for expanding trade into areas like education.

"Trade with Indonesia will receive a further boost once New Zealand and Australia successfully conclude current negotiations with ASEAN for a regional free trade agreement", said Mr Goff.

ENDS

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