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Jakarta Post

Indonesia, UK seek to boost economic ties

  • News Desk

    The Jakarta Post

Jakarta   /   Mon, November 5, 2018   /   10:20 am
Indonesia, UK seek to boost economic ties Indonesian Ambassador to the United Kingdom Rizal Sukma speaks at the Indonesian Briefing forum in London on Nov. 1. (Courtesy of/Indonesian Embassy to the UK)

Indonesia and the United Kingdom have expressed a wish to strengthen bilateral relations between the two countries amid rising global protectionism sparked by the trade war between the United States and China.

Speaking at the Indonesian Briefing forum in London recently, Indonesian Ambassador to the UK Rizal Sukma stressed the importance for both countries of exploring more detailed information about various sectors to boost trade, investment and tourism.

“The Indonesia Briefing is part of the efforts to monitor the interesting progress in Britain of the Brexit process. For Indonesia it is an opportunity to strengthen bilateral ties,” he said in a press release issued by the Indonesian Embassy to Britain.

Rizal said Indonesia sought to increase bilateral trade from around US$2.5 billion currently to between $5 billion and $7 billion annually.

Similar sentiments were expressed by the UK prime minister’s special envoy for trade for Indonesia and the ASEAN Economic Community Richard Graham, who stressed the importance for UK businesses of exploring business opportunities in Indonesia, the largest country in Southeast Asia.

Gaham underlined opportunities that could be pursued in Indonesia, including financial cooperation, financial technology (fintech), infrastructure, the digital economy and renewable energy.

Meanwhile, Bank Indonesia (BI) deputy governor Rosmaya Hadi explained the solid growth of the Indonesian economy amid the global economic uncertainty. “BI is trying to respond to the global economic fluctuation through introducing mixed policies, covering the monetary, macro prudential and payment systems,” he added

Also speaking during the panel session at the event were Sarah Hewin, chief economist at Standard Chartered Bank, Nezar Patria, editor in chief of The Jakarta Post and Chris Wren, executive director Britcham Indonesia. (bbn)