Indonesia, Britain agree to strengthen trade, investment relations

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Jakarta, Indonesia – On Wednesday, Indonesian Trade Minister Muhammad Lutfi met with British Minister of International Trade Anne-Marie Trevelyan in Jakarta as part of efforts to strengthen bilateral trade and investment relations.

The historic meeting was held as part of the Indonesia-United Kingdom Joint Economy and Trade Committee (JETCO), which was established in April 2021.

“We discussed several issues at the meeting, including ways to increase trade transactions between the two countries,” Lutfi said in an online press conference in Jakarta on Wednesday.

According to him, the two countries also discussed cooperation in renewable energy, foods, beverages, and agriculture, as well as the two countries’ membership in the G20 Forum and the World Trade Organization (WTO).

“We also discussed future steps that the two countries can take to collaborate,” he added.

According to the minister, the two countries have also established two working groups to follow up on cooperation agreements in the fields of green energy, foods, beverages, and agriculture.

It is hoped that the two countries will be able to reach concrete agreements, including a free trade agreement (FTA), in the future through the working groups, he said.

Trevelyan estimates that the total value of trade between Indonesia and the United Kingdom has reached 2.6 billion pounds sterling.

She stated that the British government is eager to strengthen JETCO and see the great potential for cooperation between the two countries.

“Indonesia and the United Kingdom have the potential to strengthen trade and investment cooperation,” she added.

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