Date Time
Statement on UK Indonesia Joint Trade Review
The Joint Trade Review (JTR) between the Republic of Indonesia and the United Kingdom was set up in recognition of the importance of deepening the trade and investment relations to facilitate economic growth. It has been concluded 18 months after its establishment in October 2019 during the Trade Expo Indonesia in Tangerang, Indonesia.
The objectives of the JTR are (i) to provide a view of the current trade and investment relationship and identify the basis on which the trade and investment relationship can be best enhanced in the future, and (ii) to develop potential recommendations for improving trade cooperation and engagement, including by reflecting views of business, and developing a roadmap to achieving success.
UK and Indonesia announce new Joint Economic and Trade Committee
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UK and Thailand commit to strengthening trade ties
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30 January 2021
Author: Nopriyanto Hady Suhanda, Ministry of Finance, Indonesia
Now that the United Kingdom has left the European Union, there is a chance for Indonesia to build on the UK–Indonesia bilateral economic partnership. Brexit is pushing the United Kingdom to form trade partnerships the world over and discussions are now taking place with Indonesia as part of a Joint Trade Review (JTR). This is an opportunity for Indonesia to explore the significant potential of increasing trade with the United Kingdom.
Indonesia and the European Union are also in the middle of negotiating the Indonesia–EU Comprehensive Economic Partnership Agreement (IEU-CEPA). The two economies began talks in 2016 and the tenth round of negotiations was scheduled for March 2020 before being postponed due to the COVID-19 pandemic. This agreement is expected to erase many existing trade barriers but unfortunately will no longer apply to trade with the United Kingdom.