“The ambition of the government is to double trade in the next five years to US$60bil, 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 last Friday it had closed Indonesia’s eligibility review for access to the Generalised System of Preferences facility, with no loss of previous benefits.Total two-way trade with the United States was worth US$28.6bil last year, according to Indonesian trade ministry data.
Mahendra told a press conference that the US International Development Finance Corp was also “very interested” in investing in the country’s upcoming US$5bil sovereign wealth fund. — Reuters