THURSDAY, March 28, 2024
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Jakarta seeks trade agreement with US

Jakarta seeks trade agreement with US

THE INDONESIAN government is seeking a bilateral agreement with the United States in order to create more favourable conditions for its textile exports.

“Currently, the US imposes a 12.5 per cent import duty for our textiles, while it imposes zero per cent for Vietnamese textiles because they already have a bilateral agreement,” said Industry Minister Airlangga Hartarto.
Indonesian exports to the US reached US$9.13 billion (Bt303 billion) last year. The biggest exports were palm oil, furniture, pulp and paper, handicrafts, electronics and aluminium products.
The Industry Ministry’s Director General of Manufacturing Industrial Base, Harjanto, said that Indonesia had discussed various issues with the US through the Trade Investment Council (TIC) forum.
He explained that the TIC consisted of four working groups on industrial and agricultural products, illegal logging and associated trade, intellectual property rights, and investment.
Meanwhile, Indonesia and the US recently established a commercial dialogue, a forum that encourages the private sector to explore investment and trade opportunities in both countries.
“Currently, the dialogue focuses on several issues, including investment climate, trade expansion, small and medium enterprises, entrepreneurship, clean energy and industrial cooperation,” Harjanto said. 
 

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