JAKARTA, Feb. 19 (Xinhua) -- The two-way trade between Indonesia and South Korea is expected to increase to 30 billion U.S. dollars in 2022 as the two nations' free trade talks will conclude this year, an Indonesian minister said on Tuesday.
Indonesian Trade Minister Enggartiasto Lukita revealed that the trade potential between the two nations has not been maximally explored.
Lukita said on the sideline of Indonesia-South Korea Business Forum that the target can be achieved within three years.
Both nations have reached basic agreements on the ongoing talks about comprehensive economic partnership agreement (CEPA) and are finalizing the deals, he added.
The negotiation on the deal which started in 2012 is expected to be clinched in November this year, said Lukita.
If the CEPA trade deal is concluded, Lukita said, economic sectors in Indonesia will enjoy a rapid investment inflow into the country.
South Korea was the fifth largest foreign direct investment in Indonesia in 2017.
