Jakarta: Indonesia and the United States (US) today held a virtual business meeting to enhance trade cooperation between the two economies.
The virtual business meeting was organized by the Indonesian Ministry of Foreign Affairs and the Indonesian Chamber of Commerce and Industry (Kadin).
The event was attended by 46 US companies and 47 Indonesian companies in five leading sectors, namely apparel, rubber, footwear, electronics and furniture.
Deputy Minister of Foreign Affairs, Mahendra Siregar, who was also present at the event, believes that the economic relations between Indonesia and the US will continue to strengthen.
“Indonesia has completed the GSP review process and hopes for a positive response from the US Government in the near future. Indonesia has also passed the Job Creation Law which is an amendment to the existing 79 laws in Indonesia. The Job Creation Law is an effort to improve the performance of the national economy and improve the business climate by simplifying investment procedures, eradicating overlapped regulations, and providing legal certainty, "said Deputy Foreign Minister Mahendra in a press release on Friday.
Despite being in a pandemic situation, Indonesia's trade to the US was recorded to grow by 7.7 percent in the first quarter of 2020.
According to Indonesian Ambassador to the US Muhammad Lutfi, this shows that Indonesian products are competitive enough to enter the US market.
“Indonesia and the US face a unique trade situation during the covid-19 pandemic," said the Indonesian Ambassador to the US.
Currently, the Ministry of Foreign Affairs, Ministry of Trade and other ministries are also conducting a joint study regarding the formation of the Indonesia-US Limited Trade Deal to further encourage trade between the two countries.