Indonesia, the Philippines agree to enhance trade and investment

Indonesia, the Philippines agree to enhance trade and investment

During a meeting between Indonesian Trade Minister Enggartiasto Lukita and the Philippines Trade and Industry Minister Ramon M Lopez and Agriculture Minister Immanuel Pinol in Manila, the two governments agreed to enhance trade and investment.

"Hopefully, the JWC will be able to come up with a practical solution and help resolve issues that become the focus of business persons from the two countries."
Jakarta (ANTARA) - During a meeting between Indonesian Trade Minister Enggartiasto Lukita and the Philippines Trade and Industry Minister Ramon M Lopez and Agriculture Minister Immanuel Pinol in Manila, the two governments agreed to enhance trade and investment.

"Indonesia and the Philippines are committed to always maintaining good ties to ensure the continuation of trade and investment between the two countries. The two countries have also agreed to expand access of their export products to each other's markets," Lukita said in a written statement released in Jakarta on Tuesday.

At the bilateral meeting, the delegations of the two neighboring countries discussed how to apply the Special Agricultural Safeguard (SSG) to Indonesia's instant coffee as the Philippines has been using the SSG since August 2018.

According to the Central Statistics Agency (BPS), instant coffee (HS 21011110), one of Indonesia's key export products to the Philippines, was also Indonesia's fourth largest export product in 2018 with a value of US$367.4 million.

"To that end, our task is to maintain the access of our key products (to overseas market), including instant coffee, to export destinations," he said.

At the meeting, the two countries also agreed to reactivate the Joint Working Group (JWG) to discuss a wide range of issues related to bilateral trade.

They also agreed to set up a technical working group on palm in the near future along with Malaysia, he said.

"Hopefully, the JWC will be able to come up with a practical solution and help resolve issues that become the focus of business persons from the two countries," he said. EDITED BY INE

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