Indonesia will no longer impose anti-dumping duties on banana imports from the Philippines, its trade minister said Tuesday.

Following bilateral trade talks in Manila with Agriculture Secretary Manny Piñol, Indonesian Trade Minister Enggartiasto Lukita said the termination of the anti-dumping duties began yesterday.

"As a symbolic gift to the Secretary Piñol, the termination of the anti-dumping duties on the imports of cavendish banana from the Philippines," Lukita said.

Banana is one of the top export products of the Philippines. As of January 2019, over US$160 billion worth of fresh bananas were exported, growing by 127.8 percent from an export value of $70.50 million in January 2018.

"As to the volume of bananas that we are going to export to the Indonesian market and other agricultural products, this will be initially determined by the demand in Indonesia," Piñol said.

The Agriculture Chief added Indonesia also agreed to ease the entry of poultry into their country.

Earlier, the two countries, along with Malaysia, agreed to form a tri-partite technical working group to address the dumping of palm oil in the Philippines.

Piñol met with Indonesian and Malaysian officials on March 27, where he suggested to regulate the palm oil exports to the Philippines in order to lessen effects on the country's coconut and palm oil industries.

Piñol said importation data show Indonesian and Malaysian exports of palm oil to the Philippines increased by 100 percent over three years.
The technical working group is expected to organize next week.

Meanwhile, Indonesian food and beverage firm PT Mayora Indah is set to invest 80 million dollars into the Philippines over the next five years to expand its operation.

PT Mayora Indah, which is behind the instant coffee brand Kopiko, said it will source coconut products from Filipino farmers.