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Indonesia, UK seek stronger economic ties with first JETCO meeting
At their first Joint Economic and Trade Committee (JETCO) meeting, Indonesia and the United Kingdom agreed to enhance trade and investment in food and beverages, agriculture and renewable energy.
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United Kingdom Secretary of State for International Trade Anne-Marie Trevelyan speaks to Indonesian Trade Minister Muhammad Lutfi at a press conference on Feb. 23, after the first meeting of the Joint Economic and Trade Committee (JETCO). (Indonesian Trade Ministry/-)
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ndonesia and the United Kingdom committed on Tuesday to increasing bilateral trade and investment in specific sectors during the first meeting of the Joint Economic and Trade Committee (JETCO).
JETCO, an annual ministerial dialogue begun in April 2021, established working groups on renewable energy and green growth as well as on food and beverages and on agriculture to identify opportunities for concrete cooperation.
Indonesia and the UK also explored the possibility of a free trade agreement (FTA), according to Indonesian Trade Minister Muhammad Lutfi, who said he was expecting the agreement to materialize “sooner rather than later”.
“This is a very good platform, and hopefully this will be the start of a new beginning in the relationship between the UK and Indonesia,” Lutfi told reporters in a virtual briefing on Wednesday.
