JAKARTA. The Indonesian and British governments expects to complete a Joint Trade Review (JTR) by the end of this year. The process has been started since October 2019.
Iman Pambagyo, Director General of International Trade Negotiations, said the target was agreed at the second JTR meeting held on Tuesday (21/7) yesterday. "This meeting is evidence of the strong commitment of the two countries to improve trade and investment relations," Pambagyo said through an official statement.
Pambagyo added that the JTR would contain policy recommendations for Indonesia and the United Kingdom. The preparation of recommendations from Indonesia was led by the Ministry of Trade, while the British were represented by its Department of International Trade.
The Ministry of Trade noted, the value of trade between Indonesia and the UK declined by 19.86% year on year (YoY) during the period of January-May 2020 to US$ 841.27 million. (KR/AR)