Indonesia and UK Enhance Trade and Economic Collaboration

May 2024

During a meeting in London last month, Indonesia’s Coordinating Minister for Economic Affairs and the British Minister of Trade discussed bolstering economic and trade ties between their nations. The establishment of the Joint Economic and Trade Committee (JETCO) emphasizes the robust relationship between Indonesia and the UK. This agreement is anticipated to yield substantive outcomes, particularly in the energy and digital economy sectors, contributing to the further enhancement of bilateral cooperation.

In the meeting, the British Minister underscored his nation’s proficiency in clean energy and proposed a tailored clean energy collaboration suitable for Indonesia’s archipelagic landscape. Integrating clean energy initiatives will subsequently be intertwined with subsidy policy management. Additionally, the Minister expressed optimism that trade in dairy products and their derivatives under the JETCO framework will progress smoothly, notwithstanding hurdles in the registration process.

In reply, the Indonesian Minister emphasized Indonesia’s deregulation initiatives directed towards simplifying the registration procedures for milk products and their derivatives. This endeavor aligns with the increasing demand for these items, particularly in light of the forthcoming government program offering free milk to students. During the discussion, the Minister also tackled the ramifications of British due diligence regulations on Indonesian palm oil products. He conveyed hope for equitable regulatory treatment in this regard.

The two Ministers further explored the concept of free trade collaboration, Indonesia’s bid for membership in the Organization for Economic Cooperation and Development (OECD), and regional partnerships. The Indonesian minister affirmed Indonesia’s readiness for free trade with the United Kingdom.

(Source: ANTARA News)

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