Indonesia-Philippines Agree on Counter-Trade MoUs Worth IDR 6.29 Trillion (USD 350 Million)

Indonesian Trade Minister Budi Santoso witnessed the signing of two tripartite counter-trade MoUs between Indonesian and Philippine businesses, with potential transactions of USD 350 million (IDR 6.29 trillion). The counter-trade arrangement is positioned as a strategic measure to address trade fluctuations. The deal represents a concrete bilateral trade policy outcome between Indonesia and the Philippines.