REPUBLIKA.CO.ID, JAKARTA -- Coordinating Minister for Economic Affairs Hatta Rajasa explained that trade between Indonesia and the European Union is complementary.

According to him, there is a huge market in domestic market that needs the EU. On the other side, there are some things that are needed in Indonesia related to the EU market.

"There is a complementary [among the two countries]," Hatta said after attending a working meeting with the House Budget Body in Parliamentary building, Senayan, Tuesday (22/10).

Speaking about Comprehensive Economic Partnership Agreement (CEPA) between Indonesia and the EU, Hatta said there is a need to exercise prudence on Indonesian side.

He added, thorough calculation must be done properly in order not to cause a deficit in the Indonesia's trade balance. Even so, CEPA is believed to be a better choice than the free trade agreement.

"If [we choose] free trade only, I do not agree because it can lead us to deficits. While on the CEPA side, it's a better one," said the Chairman of the National Mandate Party.

Furthermore, Hatta said, beside European Union, there is a wide market in Africa and South America. Therefore, it is proper thing for Ministry of Commerce to develop new markets.

"Moreover, some countries in Africa are growing well economically. They need us and we have to take advantage from it. We should pursue [the market]," he said. As an illustration, Indonesia's trade balance with EU, particularly in the non-oil sector in the mid-January to August 2013, recorded a surplus of 1.812 billion U.S. dollar.

The details are; Indonesia's export valued 11.014 billion U.S. dollars and imports 9.202 billion U.S. dollars. Whereas on the same period in 2012, the balance of trade, specifically in non-oil sector recorded a surplus of 3.11 billion dollars on which export value reached 12.089 billion U.S. dollars and import value reached 8.979 billion U.S. dollars.

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