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ndonesia and the UK have set up a joint group of eminent businesspeople that will work to enhance long-term economic links.

The vision group would map out available business opportunities in both countries as part of stepped up efforts to boost trade and investment by 2030, visiting UK Trade and Investment Minister Stephen Green said on Tuesday.

For the UK, the existence of such a group was significant as it would help promote greater awareness among British business players of Indonesia'€™s potential, which as an emerging economy saw its people climb to join a higher income bracket, thereby offering immense opportunities, he added.

'€œSome British firms are waking up to the fact that Indonesia serves as an exciting market with new trade and investment opportunities. I don'€™t think if I look back, there'€™s enough British business that has been aware of Indonesia'€™s potential, but I think that'€™s changing now,'€ Green told The Jakarta Post
in Jakarta.

Green was visiting Indonesia as part of his one-week visit to Asia, bringing a few executives from British firms including Arup, Benoy, JCB, HSBC, Mott MacDonald and Oxford Business Group.

During his two-day visit, he witnessed the opening of the British men'€™s wear outlet TM Lewin in Lippo Mall, Kemang, South Jakarta; met with the British Chamber of Commerce in Indonesia; and held a bilateral meeting with his counterpart, Indonesian Trade Minister Gita Wirjawan.

In response to the establishment of the vision group, Gita said the group would allow both countries to forge closer economic cooperation until 2030.

'€œThe vision group that has been founded represents related stakeholders who understand well
our future aspirations to boost both trade value and volume in the future,'€ he told the Post in a text
message.

Last year, Indonesia and the UK targeted the doubling of bilateral trade to US$5 billion by the end of 2015. Two-way trade settled at $3.06 billion last year, up 5.88 percent from a year earlier.

Indonesia exported goods and commodities totaling $1.7 billion, down 1.38 percent from 2011, while it imported $1.37 billion worth of goods, up 16.45 percent on an annual basis.

Green emphasized the current level of trade still did not reflect the potential of both economies and expected to push up trade through a variety of measures, such as lowering tariff and non-tariff barriers through a comprehensive economic partnership agreement (CEPA) between Indonesia and the European Union (EU).

Indonesia and the EU are currently finalizing the scope of the agreement and aim to kick off talks in the third quarter of this year, according to Gita.

The talks were previously set for March and later in November last year, but were delayed.

In terms of investment, Green said Indonesia might see new investment coming from British firms in various areas, including the infrastructure, education, healthcare and creative industries, which would not be limited to major firms, but also smaller ones.