Jakarta (ANTARA) – Trade Minister Budi Santoso expressed hope that the second Indonesia-Egypt Joint Trade Committee (JTC) meeting would be held in 2026 to strengthen bilateral trade and investment cooperation.He conveyed this during a bilateral meeting with Egyptian Investment and Foreign Trade Minister Mohamed Farid Saleh in Jaipur, India, on Friday, August 7.Santoso explained that the meeting addressed efforts to bolster bilateral trade cooperation, including proposals to initiate economic negotiations under Preferential Trade Agreement (PTA) and Free Trade Agreement (FTA) frameworks.”We hope that trade and investment commitments between the two countries can be strengthened through the prompt commencement of negotiations for PTA and FTA schemes. Therefore, we hope the second JTC meeting can be scheduled this year,” Santoso said in a statement on Saturday. To expedite the process, Santoso proposed online communications and discussions as an interim measure prior to the in-person JTC meeting.During the inaugural JTC meeting, both countries agreed to explore establishing a trade agreement to boost bilateral trade and investment.This commitment was reinforced by the Joint Statement on Strategic Partnership between the Government of the Republic of Indonesia and the Government of the Arab Republic of Egypt.The joint statement, which supports the exploration of a bilateral economic agreement, was signed by Indonesian President Prabowo Subianto and Egyptian President Abdel Fattah El-Sisi on April 12, 2025.Santoso added that Indonesia submitted the Terms of Reference (TOR) to Egypt on October 10, 2025, followed by a proposal to launch negotiations and a draft Joint Ministerial Statement on November 4, 2025.Meanwhile, Saleh advocated for the early scheduling of the second JTC meeting and expressed support for promptly initiating negotiations involving the private sector.He proposed several initiatives to strengthen cooperation, including establishing a ready-made garment joint venture and holding online meetings to facilitate agricultural trade. According to Trade Ministry data, Egypt ranks 24th among Indonesia's export destinations and 40th among its import sources.From January to June 2026, bilateral trade reached US$1.74 billion, with Indonesian exports at US$1.09 billion and imports from Egypt at US$647.70 million.In 2025, total trade stood at US$2.38 billion, reflecting a five-year compound growth rate of 6.16 percent from 2021 to 2025.Indonesia recorded a trade surplus of US$1.50 billion with Egypt in 2025, exporting US$1.94 billion and importing US$439.8 million.Indonesia's primary exports to Egypt include animal or vegetable fats and oils; coffee, tea, and spices; electrical machinery; inorganic chemicals; and aluminum.Key imports from Egypt consist of fertilizers; salt, sulfur, and lime; fruits; vegetables; and metal ores, slag, and ash.