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Jakarta Post

Economy in brief: Indonesia secures US’ GSP, for now

  • The Jakarta Post

Jakarta   /   Sat, January 19 2019   /  03:23 am

Trade Minister Enggartiasto Lukita has welcomed 2019 with an official visit to the United States in an attempt to boost exports amid a slowing global economy.

During his visit this week, Enggartiasto met with US Trade Representative Robert Lightizer to discuss the latter’s Generalized System of Preferences (GSP) — preferential treatment in the form of tariff exemptions for imported products that is granted by developed to developing countries to promote economic development in the latter — with Indonesia.

“The meeting with the trade representative was constructive because both parties understand that the GSP for Indonesia actually benefits both countries,” the minister said in an official statement on Thursday.

Enggartiasto said Indonesian products, which are included in the GSP, were needed by American businesses in their production process. Thus, he added...