Jakarta – Minister of Trade Zulkifli Hasan is optimistic that the Joint Economic and Trade Committee (JETCO) between Indonesia and the UK has the potential to increase trade and investment. Thus, the commitment to continue exploring these opportunities can be done massively.
“I am optimistic that the cooperation program under JETCO will increase two-way trade and investment between Indonesia and the UK. JETCO is one of the many efforts that can be explored by the two countries to improve trade and investment relations,” said Trade Minister Zulkifli Hasan when meeting British Prime Minister’s Envoy for Trade Richard Graham at the Ministry of Trade, Jakarta, on Monday (5/6/2023).
Minister of Trade Zulkifli Hasan said Indonesia and the UK plan to establish a Working Group on digital economy at the 2nd JETCO Meeting. After the first Indonesia-UK JETCO meeting in early 2022, which established a Sectoral Working Group on Renewable Energy and Green Growth.
A Sectoral Working Group on Food, Beverage and Agriculture was also established.
“We are still discussing options for the date of the 2nd JETCO Meeting and will communicate it together. I hope both parties can explore the potential of negotiating trade agreements during the meeting,” said Zulkifli Hasan.
In this regard, Zulkifli Hasan also said that Indonesia is paying attention to the development of the UK’s environmental policy. These include due diligence regulations on forestry products and draft policies related to carbon leakage.
“These policies have the potential to hamper Indonesian exports to the UK. Indonesia hopes that the UK policy is not discriminatory and does not create trade barriers,” the Minister said.
