JAKARTA, Nov 21 (NNN-ANTARA) – The United States and Indonesia pledged to edge up trade volume by twice, in the next five years, as the two nations still have more business opportunities, which can be explored further, officials of the two nations, said.
Deputy for the Coordination of International Economic Cooperation, at the Coordinating Ministry of Economy, Rizal Affandi Lukman, said here that, both countries have committed to drifting up trade volume to 60 billion U.S. dollars in 2024, from the current level of 30 billion U.S. dollars.
“Indonesia and the United States have a commitment to ratcheting up the volume of two-way trade,” he said.
The official pointed out that, the commitment is a follow-up on talks carried last years by the two nations.
To achieve the target, he said, Indonesia would ship more raw materials from the United States and re-export them to the latter, in the form of products with added values.
“So we will import some products from the United States and at the same time we will re-export the products with higher added values,” said Rizal.
The official said that the import products could also only be used for the domestic textile industry.
Furniture and textile are among the sectors which could be developed further, he added.
U.S. ambassador to Indonesia, Joseph R. Donovan Jr., confirmed the commitment, saying that his country would boost investment in Indonesia.
Meanwhile, U.S. Secretary of Commerce, Wilbur Ross, who visited Indonesia earlier this month, emphasised, trade cooperation would accelerate Indonesia’s GDP growth by up to seven percent, on condition U.S. firms have an equal flying field in competition in Indonesia.
The Indonesian government has scrambled to ratchet- up shipment of products abroad, which has been dragged down by the slowing global demand, and thus promised to incentivise business sectors, to motivate them to expand market of their products offshore.– NNN-ANTARA