Jakarta ( WNAM MONITORING : Coordinating Minister for Economic Affairs Airlangga Hartarto stated that the Indonesian delegation is targeting fair and balanced trade cooperation with the United States (US).
The delegations had met with several key US authorities, including the United States Trade Representative (USTR) and the Secretary of Commerce, and are scheduled to meet with the Secretary of the Treasury to discuss adjustments to trade tariffs that impact Indonesian export products.
“Our meetings aim to discuss the existing options related to bilateral cooperation between Indonesia and the United States, in which we hope to generate fair and balanced trade,” Hartarto remarked in a virtual press conference on Friday (April 18).
The minister stated that Indonesia has submitted several offers to the US, including increasing the purchases of energy, agricultural products, and Engineering, Procurement, Construction (EPC).
In addition, Hartarto elaborated that Indonesia had offered to provide incentives and facilities for US and Indonesian companies, open and optimize cooperation on critical minerals, streamline import procedures and processes for US products, and encourage strategic investment with a business-to-business scheme.
Hartarto said that the government also highlighted the importance of intensifying cooperation in the fields of education, science, digital economy, and financial services. He also proposed that Indonesia should secure lower tariffs than competing countries for key export goods that do not pose a competition to domestic industries in the US, such as apparel, footwear, textiles, furniture, and shrimp.
Additionally, he stressed the significance of ensuring the resilience of the supply chain of strategic products in maintaining economic security.
“From these ongoing negotiations, we are looking for lower tariffs and equal tariffs with other countries,” he emphasized.
He stated that the negotiation process would proceed through one to three rounds, with the format and principles of the agreement that have been agreed upon by both nations.
Hartarto remarked that Indonesia and the US have committed to concluding the negotiations within a 60-day framework.
He stated that during these 60 days, the Indonesian government expects the agreed framework of cooperation to be formalized into a mutual agreement.
“We are still meeting with several stakeholders, both business circles and associations in the United States, who will help Indonesia to approach the US government. We hope the negotiation can be achieved within the targeted time of 60 days,” the minister remarked.
