Tuesday, 25 Muharram 1441 / 24 September 2019

Tuesday, 25 Muharram 1441 / 24 September 2019

Indonesian-US trade values targeted at 50 billion US dollar

Rabu 21 Aug 2019 10:35 WIB

Red: Ani Nursalikah

Illustration.

Illustration.

Foto: bea cukai
The target is expected to help intensify bilateral trade with its key partners.

REPUBLIKA.CO.ID, JAKARTA -- The Indonesian Trade Ministry has outlined a target for the value of bilateral trade between Indonesia and the United States to reach 50 billion US dollar in the next several years.

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"Last year, the value of bilateral trade between Indonesia and the United States had reached 29 billion US dollar. We have agreed to increase the bilateral trade target to 50 billion US dollar," Kasan, head of the Trade Development and Study Department of the Trade Ministry, noted here on Tuesday.

The Trade Ministry has applied export strategies by establishing a trade agreement with major trade partner countries and new potential nations. Indonesia has also targeted to realize bilateral trade worth 50 billion US dollar with India by 2025 and 30 billion US dollar with South Korea by 2022.

The Trade Ministry stepping up trade targets is expected to help intensify bilateral trade with its key trade partners. President Joko Widodo (Jokowi) had earlier ordered several ministers and institution heads to make policy breakthroughs in the fields of investment and exports.

He reiterated that exports and investment are the keys to addressing trade balance and current account balance deficits. The president is optimistic of the policies on investment and exports leading to concrete actions that can be implemented. Jokowi also reminded officials to understand the problems faced by businessmen. Policies on investment and licensing bureaucracy must be improved, he stated.

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