US firms view Indonesia as potential regional hub

18 January, 2019 | Source: Antara News

US companies perceive Indonesia as a potential regional hub for conducting their business and trade, Indonesia`s Trade Minister Enggartiasto Lukita stated.

"With inflation under control and the increased level of ease of doing business, they (the US companies) have seen Indonesia`s potential as a regional hub," Lukita noted after the Indonesia-US business meeting forum here on Thursday.

Moreover, he remarked that with the Regional Comprehensive Economic Partnership (RCEP) negotiations among ASEAN members and six partner countries -- China, Japan, South Korea, Australia, India, and New Zealand -- the US companies did not want to miss out on the opportunity.

Earlier in the day, the minister met with some representatives of US companies that have expressed keen interest to increase their market shares in Indonesia.

The meeting also doubled up as a business-matching forum between Indonesian and US businessmen.

"At the meeting, we elaborated on the ease of investment (in Indonesia) and our open market," he stated.

Meanwhile, the ministry`s Director General for National Export Development Arlinda noted that both countries have shared the same commitment to increasing bilateral trade.

"Indonesia and the United States have the same commitment to enhance bilateral trade," Arlinda remarked.

Indonesia has enjoyed US$9.7 billion of surplus in bilateral trade, with total trade of $25.92 billion in 2017.

Trade value during the past five years has shown a positive trend of 0.39 percent.

In 2017, the United States was the second-largest destination country for Indonesian non-oil/gas exports after China, with $17.1 billion of exports during the period.

Indonesia`s main export products to the United States comprised shrimp, natural rubber, footwear, tires, and women`s garments.

 

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