Jakarta, Oct. 23 -- Brazilian President Luiz Inacio Lula da Silva said Thursday that economic ties between Brazil and Indonesia have significant growth potential, far exceeding the current trade volume of about USD6 billion over the past two decades.

"I asked President Prabowo Subianto why two large countries like Indonesia and Brazil, which together represent nearly 500 million people, only have trade worth $6 billion. That number is too small for both nations," Lula said during a joint statement at Merdeka Palace in Jakarta.

In 2024, Indonesia ranked as the fifth-largest market for Brazilian agribusiness exports. However, Lula noted that this figure is modest given the size and potential of the two countries.

"Indonesia and Brazil ar...