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View all search resultsGovernment upbeat US will maintain GSP status for Indonesia
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Large cranes are operated to load export commodities at Tanjung Priok Port, North Jakarta. Indonesia hopes the United States will maintain the GSP special trade status for Southeast Asia's largest economy. (Antara/Rivan Awal Lingga)
T
he government is upbeat that the United States will maintain the special trade status for Indonesia as most of the US’ concerns on trade privileges have been settled, a senior trade official has said.
Deputy Trade Minister Jerry Sambuaga said in Jakarta on Monday that negotiations over three remaining issues that would enable Indonesia to continue to enjoy the Generalized System of Preferences (GSP) could be concluded in December this year.
He said the three issues were related to data localization, foreign ownership in insurance and reinsurance companies and business licenses.
Jerry said he had talked about the problems with US trade representatives and the US Department of Commerce during his visit to the US recently. “We asked them about the GSP being realized in the near future, this year if possible, " he said during a media briefing on his visit to the US from Nov. 16 to 21.
US President Donald Trump said in April last year that his administration would review the GSP facility given to several developing countries including Indonesia as he considered it to have caused a trade deficit. For Indonesia, Trump plans to review as many as 124 products including textiles, plywood, cotton and several marine products such as shrimp and crabs. Indonesia has enjoyed the GSP facility since 2011.
Indonesia feared the US would end the privilege after the country revoked the GSP eligibility status of India and Thailand in October.
According to Trade Ministry data, Indonesia exported 20 products under the GSP facility, such as leather, jewelry and chemical products, with a total value of $1.6 billion from January to August this year, up from $1.2 billion during the same period last year.
