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Indonesia to receive USD 1.38 bln Chinese investments in furniture industry

CKN
minutes 2021/04/19 02:31:10
2,898

Apr 19, 2021 (China Knowledge) - China has been investing in Indonesia’s West Kalimantan, with no signs of slowing down. China confirmed plans to invest an additional USD 1.38 bln, specifically the furniture industry.

This would help both regions to build on their existing trade cooperation plans, as well as for both regions to help each other. West Kalimantan has 10.13% of its Indonesia’s exports being exported to China and is ranked fourth among all other ASEAN members exporting to China.

In 2020, the Chinese invested USD 4.8 bln in Indonesia, with Indonesia’s exports to China rising by 15%. Export of key commodities such as iron and steel rose by 136.52%, paper and cardboard rose by 133.25% and tin and products skyrocketing by 544.07%, with the total trade of both countries reaching a staggering USD 78.84 bln.

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