Indonesia will see a significant boost in trade and investment from the United States as a result of Washington's renewed trade preference facility with South-east Asia's largest economy.[JAKARTA] Indonesia will see a significant boost in trade and investment from the United States as a result of Washington's renewed trade preference facility with South-east Asia's largest economy, a top Indonesian official said on Sunday.
"The ambition of the government is to double trade in the next five years to US$60 billion, while simultaneously encouraging US investment," said vice-foreign minister Mahendra Siregar, who noted this came after over two years of negotiations. The Office of the United States Trade Representative said on Friday it had closed Indonesia's eligibility review for access to the Generalized System of Preferences facility, with no loss of previous benefits.Total two-way trade with the United States was worth US$28.6 billion last year, according to Indonesian trade ministry data.
As China and US vie for influence in ASEAN, those who stay neutral and open stands to benefit the most. Jokowi's subtle signals is doing a lot of good for Indonesia. The key now is to manage COVID19 crisis along with problems arisen. This is the beginning of something good.
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