President optimistic of Indonesia securing GSP extension from US

President optimistic of Indonesia securing GSP extension from US

Documentation - A screenshot of Foreign Minister Retno Marsudi briefing the media online (ANTARA/Yashinta Difa)

"The president stressed that Indonesia was eyeing to deepen economic cooperation between the two countries in future, including pinning hopes that (the US) would extend GSP for Indonesia."
Jakarta (ANTARA) - President Joko Widodo called to intensify economic cooperation between Indonesia and the United States through extension of the Generalized System of Preferences (GSP) that he perceives as beneficial in promoting economic development of both nations.

Indonesian Foreign Minister Retno Marsudi made the statement after accompanying President Widodo during a meeting with US Secretary of State Mike Pompeo at the Bogor Presidential Palace in West Java on Thursday.

At the meeting, President Widodo highlighted the significance of mutual understanding and concrete economic cooperation between both nations to maintain the Indonesia-US partnership, Marsudi remarked.

"The president stressed that Indonesia was eyeing to deepen economic cooperation between the two countries in future, including pinning hopes that (the US) would extend GSP for Indonesia," she affirmed.

GSP is a US unilateral program offering a reduction in import duties for exporting nations to export goods to the US.

As many as 3,572 Indonesian products received GSP facilities. However, since 2018, the US has been reviewing the eligibility of Indonesia and several developing countries for extension of the facilities as per Federal Register Vol. 83 on April 27, 2018.

Indonesia is still endeavoring to secure an extension of the GSP as part of the efforts to boost business cooperation between the two nations. Related news: Pompeo hails Indonesia's consistent role in Afghanistan peace process

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