JAKARTA - Indonesian Minister of Trade Muhammad Lutfi and Secretary of State for International Trade of the United Kingdom Anne-Marie Trevelyan chaired the first meeting of the Joint Economic and Trade Committee (JETCO) in Jakarta, Wednesday (2/23). This meeting is a form of commitment from the two countries in increasing cooperation, especially in the trade sector. This meeting also marked Secretary Trevelyan's first visit to Indonesia after being sworn in on 15 September 2021.
JETCO is a Ministerial-level dialogue forum between Indonesia and the UK to promote trade and investment relations between the two countries through increased cooperation. JETCO was formed through a memorandum of understanding signed by the two Ministers in April 2021 as a follow-up to the recommendations of the Indonesia-UK Joint Trade Review (JTR).
At this first meeting, the two countries formed two sectoral working groups, namely the Sectoral Working Group on Food, Beverages, and Agriculture and the Sectoral Working Group on Renewable Energy and Green Growth. The Indonesian delegation in the Sectoral Working Group on Food, Beverages, and Agriculture will be led by the Ministry of Agriculture. Meanwhile, the delegation for the Sectoral Working Group on Renewable Energy and Green Growth will be led by the Ministry of Energy and Mineral Resources.
Meanwhile Secretary Trevelyan said that the cooperation between Indonesia and the UK has great opportunities to continue to be developed, especially in the fields of trade and investment. The two countries also agreed to improve trade relations, particularly in the field of clean and renewable energy.
The total trade between Indonesia and the UK in 2021 is recorded at USD 2.6 billion. During that period, Indonesia's exports to the UK were recorded at USD 1.5 billion, while Indonesia's imports from the UK amounted to USD 1.1 billion. (LM)